Also known as a “commercial blanket bond,” a blanket honesty bond is no bond at all.
A blanket honesty bond is a type of insurance that covers an employer in the event that their employees did something stupid, i.e. dishonest, even if those employees are unknown.
For instance, if a company...let’s say, Wells Fargo...was to have many employees involved in some type of fraud because of messed-up business incentives (yes, this did happen IRL) and it came to light, then Wells Fargo would be covered by the maximum amount, no matter how many employees were involved, and even if not all of them were named.
