Banker's Blanket Bond
Definition of 'Banker's Blanket Bond'A fidelity bond purchased from an insurance broker that protects a bank against losses from a variety of criminal acts carried out by employees. Some states require blanket bond coverage as a condition of operating a bank.Also known as a blanket fidelity bond. |
|
Investopedia explains 'Banker's Blanket Bond'A fidelity bond is insurance coverage against losses that occur from the dishonest acts of employees. This bond may be applied to individual employees or to job positions in the company. For example, a bank can insure a specific bank manager, or can choose to insure the position itself, so that any employee that assumes those job responsibilities is automatically covered. Some of the employee criminal acts covered by a blanket bond include robbery carried out by an employee and forgery. |
Related Definitions
Articles Of Interest
-
Analyzing A Bank's Financial Statements
A careful review of a bank's financial statements can help you identify key factors in a potential investment. -
Tips For Fitting In At Your Brokerage Firm
Part of starting a successful career as a broker is finding the right place to work. -
10 Bank-Breaking Money Myths
Just because a belief is common, doesn't mean that it's true. Here we separate fact from fiction. -
Identity Theft: Who To Call For Help
If your identity is stolen, it's critical to act fast. Find out what to do if it happens. -
Financial Designations That Employers Require
We break down the designations that are important to have if you want to work in the financial sector. -
Retirement: The One Thing Couples Shouldn't Do Together
Staggering retirement can have both financial and emotional benefits for married couples. -
Top 5 Budgeting Questions Answered
You don't need a degree to understand your money, begin saving and pay down debt. -
Investing In Medical Equipment Companies
Learn the basics about medical equipment companies and how investing in them can benefit growth and value investors alike. -
Tax Variations Of The HEART Act
The HEART Act is designed to allow service members and reservists make a smooth financial transition into active duty and back into civilian life. -
8 Qualities That Make A Good Insurance Agent
Insurance agents must possess each of the following qualities in order to be successful.
Free Annual Reports