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DEFINITION of 'Blanket Bond'. Insurance coverage carried by brokerages, investment bankers, and other financial institutions to protect them against losses due to employee dishonesty. Next Up. Examples of things that a blanket bond might cover are forged checks, counterfeit currency, fraudulent trading, and property damage.
Blanket Additional Insured Clause. Also known as an automatic additional insured clause, this language in your business liability policy provides liability coverage for subcontractors on your project that you are contractually required to add to the policy.