blanket bond

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Blanket Bond

Insurance coverage carried by brokerages, investment bankers, and other financial institutions to protect them against losses due to employee dishonesty.

Notes:

Examples of things that a blanket bond might cover are forged checks, counterfeit currency, fraudulent trading, and property damage.

blanket bond

See blanket fidelity bond.

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References in periodicals archive

blanket fidelity bond

FNB recorded a fraud loss of $250,000 for the quarter ended June 30, 2005, which represents the deductible amount under FNB's blanket bond policy.

FNB Financial Services Corporation Announces Core Earnings Increase by Business Wire

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