Which bond specifically protects against employee theft without listing individuals?

The bond that specifically protects against employee theft without listing individuals is known as a Blanket Position Bond. This type of bond provides coverage for various positions within a company rather than naming specific employees, thereby offering a broader protection against dishonest acts within the organization. If an employee in any covered position commits theft or embezzlement, the bond can be triggered regardless of the individual’s identity.

This flexibility makes Blanket Position Bonds particularly useful for businesses that experience frequent turnover or have numerous positions that involve access to funds or important information, allowing for comprehensive theft protection without necessitating constant updates to the bond itself whenever personnel change.

In contrast, a Surety Bond functions more as a guarantee of performance or adherence to contractual obligations and does not specifically cover employee theft. A Performance Bond ensures that a contractor fulfills their obligations under a contract but is not related to employee dishonesty. Fidelity Insurance Bonds do provide coverage against employee theft but are typically issued on an individual basis, listing specific employees rather than applying broadly to positions, thus differing from the nature of a Blanket Position Bond.