The standard Bankers'' Blanket Bond
policy separates this form of coverage
from the Forgery section, and covers
losses arising from situations where the
institution has "acted upon" (e.g.
accepted as collateral) any forged or
fraudulently altered securities.
This area of coverage is now frequently
being extended to incorporate
uncertified (i.e. electronic) securities
and the statements representing such
securities.
