Commercial Blanket Bond
Definition
- Insurance coverage purchased by a business that protects them from losses due to dishonest employees. A commercial blanket bond provides blanket coverage for all employees, and provides coverage for various forms of fraud including embezzlement, forgery or securities theft, or other business related crimes, even when the guilty employee(s) cannot be determined.
Synonyms
embezzlement insurance, forgery insurance, revenue loss insurance, commercial insurance, employee fraud insurance
Related Terms and Acronyms
- Business Crime Insurance — Definition,
- Insurance that covers losses due to criminal acts perpetrated by customers or employees.
- Business Insurance — Definition,
- An umbrella term for insurance that covers various losses that may arise due to the operation of a business.
- Commercial Multiple Peril Insurance — Definition,
- Insurance policies that provide businesses coverage for more than one named peril.
- Commercial Property Insurance — Definition,
- Property insurance that provides coverage for damages to commercial property due to named perils such as fire or theft.
- Fidelity Bond — Definition,
- Insurance that protects a business from losses due to employee fraud, such as theft, forgery or fraudulent trading.
- Multiline Insurance Policy — Definition,
- A combination of different insurance policies that are rolled into a single insurance policy.
- Umbrella Insurance — Definition,
- Insurance used to cover different types of property in a single policy.
- Vandalism and Malicious Mischief Coverage — Definition,
- Insurance that covers property owners for damages resulting from acts of vandalism.
