What is an essential feature of a blanket bond?

A blanket bond is specifically designed to provide comprehensive coverage for various forms of employee theft and dishonesty. This type of bond extends protection to multiple employees, rather than being limited to specific individuals, and it often covers a range of fraudulent activities. By offering broad protection, a blanket bond helps businesses safeguard themselves against potential financial losses that could arise from dishonest actions by their employees, which is crucial in maintaining trust and financial stability in any organization.

In contrast, the other options do not accurately reflect the primary characteristics of a blanket bond. Options that suggest limitations to coverage or imply higher costs and applications do not align with the purpose and usability of blanket bonds, which aim to simplify coverage for multiple scenarios of employee dishonesty.