Bank Employee Liability Coverage

Most businesses need insurance coverage. More often than not obtaining insurance is required before a business can legally operate. Certain businesses, of course, have a greater risk than others while some businesses have specialized considerations that warrant a unique kind of coverage.

High-Risk Businesses

Businesses that have a high level of risk could include agencies that perform potentially dangerous construction work such as bridge repairs, freeway resurfacing or constructing high rise buildings. It could also include handling rare and/or irreplaceable items and it certainly includes businesses that manage substantial financial assets. Banks, in particular, need to have comprehensive coverage to minimize potential risk and avoid significant financial loss.

Blanket Bond

A blanket bond is a type of insurance coverage that is only used by banks, financial institutions, and brokerage houses. It can sometimes also be referred to as a Fidelity bond or Bankers Blanket Bond insurance coverage. It specifically protects these businesses from losses incurred from an employees unlawful or dishonest acts. It does not protect against losses incurred from any customers. Some common examples of illicit acts that employees may carry out include forgery, fraud, and illegal wire transfers. You can learn more about blanket bond coverage at

What Isnt Covered?

Blanket bonds do not protect against losses incurred from an employees unintentional mistakes or intellectual property theft.