blanket bond

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Blanket Bond

A bond or insurance policy covering a company in the event it loses money as the result of employee theft or fraud. It is important to note that blanket bonds generally only cover situations in which an employee commits fraud for personal gain; it does not cover situations in which the employee (without support or knowledge of management) falsifies trading so that it makes the company appear healthier that it is. The Federal Bonding Program, which is run through the Department of Labor, insures or guarantees the insurance of ex-offenders whose employment adds significant risk of theft or fraud. See also: Bonding, Operational risk.

blanket bond

References in periodicals archive ?
The forum will address issues related to professional indemnity, bankers blanket bonds, political violence and medical malpractice.
The Professional Liability Insurance Forum will address issues related to professional indemnity, bankers blanket bonds, political violence and medical malpractice, said the event organisers FinMark Communications.
This is available in three formats: individual bonds, schedule bonds and blanket bonds.
It also offers all financial institution forms, including bankers, brokers and insurance company blanket bonds, registered mail and excess securities.