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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Commercial Blanket Bond


Synonyms:commercial insurance, embezzlement insurance, employee fraud insurance, forgery insurance, revenue loss insurance
Filed Under: financial-banking, insurance
Tags: banking, bonds, insurance
 

Definition of commercial blanket bond

commercial blanket bond
1. 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.

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