Commercial Blanket Bond
Coverage of the employer for all employees on a blanket basis, with the maximum limit of coverage applied to any one loss without regard for the number of employees involved. Both commercial and position blanket bonds work the same way if only one employee causes the loss, or if the guilty employee (s) cannot be identified. For example, five identifiable employees as a team steal $50,000. A $10,000 blanket position bond would cover the loss in full. A $50,000 commercial blanket bond would be required to repay the insured business for the same loss.
Popular Insurance Terms
Modified endowment insurance policy under which the insured receives one-half the death benefit as the maturity value of the policy. ...
Actual mortality experience of an insured group as compared to the expected mortality for that group. ...
Term in pensions; leaving a job before normal retirement age, subject to minimum requirements of age and years of service. There usually is a reduction in the monthly retirement benefit. ...
Annuity guaranteeing a given number of income payments whether or not the annuitant is alive to receive them. If the annuitant is living after the guaranteed number of payments have been ...
Act that regulates the variable dollar insurance products (equity related) sold by insurance companies. The act includes regulations that stipulate: the variable dollar insurance products ...
End of a defined time period that dividends become payable to the policyholder. ...
All sources of cash flow, usually stated on an annual basis. ...
Association of independent agents whose objective is to further the interests of these agents through education, lobbying, and professional ethics. ...
Physical, moral, or financial circumstance of a life insurance applicant that sets him or her apart from a physically, morally, and financially sound standard applicant. The underwriting ...

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