Blanket Position Bond Law and Legal Definition
Blanket position bond is one of the two common forms of blanket bond. The bond protects the employers against the actions of employees who hold specific positions within the firm. The amount of coverage is based on the particular position covered. In the event that several employees are involved in the loss, the blanket bond will allow for maximum coverage that is a cumulative total of the insured amount for all positions involved in the loss.
