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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.
Primary Commercial Blanket Bond. This type of employee theft bond is much like the blanket position bond except that it covers each employee in your company. And whether one or more employees committed the stealing, you are able to claim a loss for the same amount.