What Is a Banker’s Blanket Bond?

Out of all of the industries that need high-quality insurance coverage, the financial industry is one of the most important. Losses for a financial institution don’t only impact the company itself but may also devastate the financial welfare of their clientele. When it comes to financial institution bond coverage, you want to know about banker’s blanket bonds. They are very similar to fidelity bonds, and the two terms are often used interchangeably. These types of bonds cover very specific types of situations that could result in large losses for a financial institution. Covered for Employee Misconduct The main purpose of...