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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.
An insurer of a blanket accident and health insurance policy must remit benefit payments directly to the persons insured under the policy. A licensed insurance broker reported that his client, a fire district, âhas an agreement with their career staff (fire fighters) that provides unlimited sick time.