Overview
Used to insure banks and other financial institutions against employee dishonesty, burglary, robbery, forgery, and similar crime exposures. Previously called a “bankers blanket bond.” Coverage may be provided on the standard forms promulgated by the Surety Association of America (SAA) or on a special form drafted by the insurer.
Note: The terms and provisions of any bond, policy, form, rider or endorsement govern any questions that arise in connection with their use. Always refer to the appropriate bond or policy for complete details.
Each of the six Financial Institution Bonds is designed for a specific type of business or use:
FORM NUMBER | ELIGIBILITY |
---|---|
Standard Form No. 14 | Stockbrokers and investment bankers |
Standard Form No. 15 | Finance companies |
Standard Form No. 23 | Credit unions |
Standard Form No. 24 | Commercial Banks, Savings and Loan Associations and Savings Banks |
Standard Form No. 25 | Insurance Companies |
Standard Form No. 28 | Excess bond over Insuring Agreement (A) only |