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Bankers Blanket Bond (B.B.B.)
  • Bankers Blanket Bond (B.B.B.)
Bankers Blanket Bond insurance is specially designed to cover the financial institutions such as banks from the following types of losses:

Fidelity:  Loss resulting from dishonest or fraudulent act by employees with the intent to obtain financial gain for themselves or to cause the assured to sustain a loss

On Premises: Loss resulting from theft or robbery committed by persons physically present on premises or being damaged, destroyed or displaced.

In Transit: Loss of property from any cause while the property is in transit.

Forgery or Alteration: Loss resulting from:

  • Forgery or alteration of checks, bills of exchange, money orders, etc…
  • Having paid or established credit on the faith of any communication which turned out to be fraudulent.
  • The payment of the Assured of forged or fraudulently altered promissory notes.

Securities: Loss resulting directly from the Assured having, in good faith, acted upon securities which prove to have been counterfeited or forged, fraudulently altered, or lost or stolen.

Counterfeit currency: loss by reason of the receipt by the Assured of counterfeited or altered paper currency issued or purporting to have been issued in which the Assured’s office sustaining the loss is located.

Office and contents: loss of or damage to furnishings, fixtures, equipment (excluding computers and related equipment) within the office of the Assured caused by burglary or vandalism

Legal fees: reasonable fees, costs and expenses incurred and paid by the Assured in defense of a claim, provided that the loss is covered.