Bankers Blanket Bond Insurance

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Bankers Blanket Bond (BBB)

A Bankers Blanket Bond (BBB) is an insurance policy designed to protect banks and other financial institutions from a wide range of losses that can occur in their operations.

Typical Coverages included in a Banker’s Blanket Bond:

1. Employee Dishonesty

This covers loss of money or property due to fraud and or dishonesty of employees working alone or in collusion with outsiders

2. Forgery or Alteration

Losses from forged or altered cheques, drafts, promissory notes or similar instruments.

3. Loss of Money & Securities (On Premises and in Transit)
  • Theft, robbery or burglary while money or securities are on the bank’s premises including in ATMs or similar devices.
  • Losses during transportation by authorised personnel or armoured carriers.
4. Forgery of Securities

Covers losses due to forged or counterfeit securities or financial instruments.

5. Computer Fraud & Cyber Fraud

Losses due to unauthorised computer use, manipulation, or electronic fraud.

6. Fraudulent Mortgages/Counterfeit Instruments

Losses arising from accepting fraudulent or counterfeit loan documents or instruments.

7. Loan Losses Caused by Fraud

When the bank issues a loan based on forged or falsified documents.