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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.
Types of Bonds. Companies may choose the type of bond that best meets the needs of the organization. Individual bonds cover one employee, while blanket bonds cover all workers in a company. A bond can cover a particular position in the company and cover any employee working in the particular job.ypes of Bonds. Companies may choose the type of bond that best meets the needs of the organization. Individual bonds cover one employee, while blanket bonds cover all workers in a company. A bond can cover a particular position in the company and cover any employee working in the particular job.