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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.
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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. |
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