Financial institution bond

{
  "id": "MLC-T-INS-001505",
  "term": "Financial institution bond",
  "field": "Insurance and risk management",
  "definition": "A specialized type of fidelity bond designed to protect financial institutions from losses due to dishonest acts of employees, such as fraud, embezzlement, or forgery. It also covers losses from robbery, burglary, misplacement, and damage to property. These bonds are often mandated by regulatory bodies for banks, credit unions, and other financial service providers.",
  "url": "https://mlchart.com/terminology/insurance/financial-institution-bond/"
}