blanket bond
- An insurance agreement that provides coverage for all or a group of employees, such as bank employees or public trustees, against theft or dishonest acts
- The bank decided to purchase a blanket bond to protect itself from potential thefts by its employees.
- As a trustee in bankruptcy, he was covered by a blanket bond which protected against fraudulent activities.
- The financial institution enacted a blanket bond to shield itself from the risk of dishonest acts committed by employees.
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