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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.
The term blanket coverage refers to a category of business insurance policies covering multiple properties that are similar in nature but not at the same location. For example, a franchise restaurant owner who operates several sandwich stores around a city may purchase a single insurance policy covering all locations.