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The blanketbondis a form of insurance coverage that provides protection for brokerages in the event of employee error or dishonesty, as well in the case of theft. Blanket bonds are also often carried as part of the broad insurance coverage for other types of financial institutions that are res...
As with any type of insurance coverage, an open policy is only considered to be in effect as long as the insured party is current with the premium payments. Should the client fall behind in the premiums, some insurers do allow a short grace period, usually between ten and thirty days, to...
CPI, Blanket, Self-Insurance Read Part 3, What to Look for in a CPI Provider How does CPI compare to blanket and self-insurance? In Part 2 of our blog series, CPI, Blanket, and Self-Insurance: Which Is Better for Your Financial Institution? we look at some of the pros and cons of...
If you have to file a liability claim and the loss goes over the limit of that underlying policy, your umbrella could kick in to provide extra financial protection. This may include additional coverage for legal costs after a covered claim. Think of it as a security blanket that wraps around...
Financial advisers say life insurance is a safety blanket that helps you prepare for the unexpected.There are various different types of life insurance, depending on the needs of the individual.According to Policyscout.com, life insurance is generally split into two classes: temporary and permanent...
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Blanket insurance is relatively common in everyday life.Mortgage lendersoften require borrowers to gethomeowners insuranceto protect the lender and the property from damage or theft. Homeowners insurance is a type of blanket insurance since it covers both the structure and the contents of your house ...
A banker’s blanket bond is an insurance policy that provides coverage against the direct financial loss from forgery, cyber fraud, physical loss of or alteration to property, extortion, and employee dishonesty. The employee must have committed these fraudulent acts for personal gain for the company...