What type of bond covers dishonest employees acting separately or together by position, with limits applying to each loss?

The correct answer is Commercial Blanket Bonds. This type of bond is specifically designed to protect businesses against losses caused by dishonest acts of employees. The coverage extends to dishonest actions that may be performed either individually or collectively by employees in specific positions within the organization.

These bonds provide a limit for each loss incurred due to this dishonesty, allowing organizations to have their financial interests safeguarded over repeated or varied occurrences of loss. The term "blanket" implies that the coverage encompasses a wide range of employees and positions, rather than being limited to specific individuals or roles. This flexibility is crucial for businesses with numerous employees who might be in positions where they handle money or valuable property.

In contrast, the other options you presented serve different purposes. Position Schedule Bonds cover specifically identified positions within an organization where the fidelity of the employee in that role is being insured, and the amounts are predetermined for each position. Name Schedule Bonds provide coverage for specific named individuals rather than roles, while Blanket Position Bonds, though similar in concept, typically do not operate with the same broad scope and loss limits per event as Commercial Blanket Bonds. Hence, for comprehensive coverage against employee dishonesty, Commercial Blanket Bonds are the most suitable choice.