AIG vs Beazley: Commercial Crime Insurance

Beazley underwrites commercial crime for companies and advertises limits up to US $25,000,000, with wire-fraud cover conditioned on verifying payment instructions separately; AIG markets crime insurance for commercial and governmental entities.

Van Ness Partners presents a practical comparison of source materials relevant to financial crime exposures.Research updated 2026-09-30

AIG describes crime coverage for commercial and governmental entities. Beazley targets commercial companies and separates financial-institution bonds.

Sources consulted

  1. 01
    Crime and Fidelity Insurance

    AIG · Official AIG page, lines 242–270 and 353–354: crime-loss examples, commercial/government entity audience, CrimeGuard Choice sample policy/application, and policy/state availability caveat. · accessed 2026-09-30

  2. 02
    Crime and Fidelity

    Beazley · What we offer: Commercial Crime for commercial companies; fraudulent-instruction/social-engineering insuring agreement and out-of-band authentication condition; Limits up to US $25,000,000; How can we help; Tools & Resources application forms · accessed 2026-09-23

  3. 03
    Commercial Insurance Guide

    California Department of Insurance · Crime · accessed 2026-09-16

  4. 04
    Social Engineering Fraud Insurance

    Chubb · Opening; coverage highlights · accessed 2026-09-16

  5. 05
    Crime Terms and Conditions

    The Travelers Companies, Inc. · I.A–G, printed/PDF pages 1–4; III.RR, printed/PDF p.13; V.B.1–2, printed/PDF pp.18–20; Consideration, printed/PDF p.1; III.P p.8; V.A.3 pp.16–17; V.A.4 p.17; V.B.3 p.20; I.A.3 p.1; III.C p.7; III.S pp.8–9; III.II and III.KK p.12; III.QQ p.13; V.A.5 pp.17–18 (printed/PDF pages); IV.J–O, printed/PDF pages 14–15 · accessed 2026-09-16

  6. 06
    Crime Non-Financial Applications and Forms

    Travelers · Opening paragraph; Sample Policy Forms · accessed 2026-09-16

  7. 07
    Commercial Crime Coverage Application

    Travelers Casualty and Surety Company of America · I–III pages 1–2; IX–XI pages 3–4; V–VII, printed/PDF pages 2–3 · accessed 2026-09-16

What Are the Key Differences Between AIG and Beazley Crime Insurance?

Beazley underwrites Commercial Crime for commercial companies; AIG offers crime insurance for commercial and governmental entities.

AIG’s page describes crime insurance for commercial and governmental organizations, including potential losses of money, securities, and other assets from dishonesty, theft, or fraud. Beazley underwrites Commercial Crime for ordinary commercial companies and treats Financial Fidelity Bonds for financial institutions as a separate product. A bank should ask about the bond line; a nonfinancial company can compare the crime forms and confirm which insured entities are scheduled. [1] [2]

AIG describes crime coverage for commercial and governmental entities. Beazley targets commercial companies and separates financial-institution bonds.

Beazley advertises limits up to $25 million and says its underwriting and claims professionals work together; AIG identifies dedicated underwriting and experienced claims professionals. Neither figure establishes a buyer’s sublimits or retention, and neither service description guarantees claim outcomes. A buyer should compare the proposed insuring agreements, social-engineering conditions, and retentions, then confirm who coordinates the claim with the underwriter. [1] [2]

What Should You Confirm in AIG and Beazley Crime Insurance Quotes?

  • Ask AIG for the quoted limit, retention, and whether computer fraud and social engineering are covered. [1]
  • Ask Beazley for the offered aggregate, sublimits, out-of-band authentication condition, and claim contacts. [2]

Crime coverage

AIG

  • role: AIG markets crime insurance as a risk-bearing insurance product for commercial and governmental entities, separate from its financial-institution bond offering. The policy issuer is not named for a particular buyer. Role in this product is limited to the description on the linked AIG source.company-reportedSource ↗
  • eligibility: AIG says its crime insurance is available for commercial and governmental entities. Financial-institution bonds are described separately for banks, non-bank lenders, asset managers and insurance companies. Audience is the segment AIG names on the linked source; this is not an underwriting decision, quote or guarantee of availability.company-reportedSource ↗
  • coverage: AIG describes potential crime coverage for loss of money, securities and other assets from dishonesty, theft or fraud, including computer fraud. AIG links a CrimeGuard Choice sample policy; actual terms and state availability vary. AIG’s public product description is not the policy. Actual entitlement depends on the applicable issued form, endorsements and declarations.company-reportedSource ↗
  • services: AIG identifies a dedicated underwriting team and experienced claims professionals for its Crime and Fidelity business. The page does not promise claim outcomes or specify account-level service terms. The linked page describes company-reported support; specific account services and third-party arrangements must be confirmed.company-reportedSource ↗
  • limits: The reviewed page and linked product overview do not state a standard buyer-specific limit, retention or deductible. Confirm those in the quote and issued policy. This statement reports only what the linked public source discloses and does not substitute for a quote or issued policy.not-disclosedSource ↗

Beazley

  • role: Beazley underwrites Commercial Crime insurance for commercial companies. The same product page separately describes Financial Fidelity Bonds, a related but distinct product line for financial institutions. Crime and Fidelity product page; distinguishes the commercial-company product from the financial-institution fidelity bond described on the same page.company-reportedSource ↗
  • eligibility: Beazley markets Commercial Crime to ordinary commercial companies, not to banks or other financial institutions, which it addresses separately through Financial Fidelity Bonds. Product page target-customer language; no industry list or size threshold is published.company-reportedSource ↗
  • coverage: Beazley says Commercial Crime protects an organization from loss of money and securities caused by theft by its own employees, plus third-party-related losses such as forgery or alteration, on-premises and in-transit loss, money-order and counterfeit-currency fraud, computer fraud, client-property loss, credit-card fraud and related expense coverage. Product-page description of insuring agreements; exclusions, conditions and available sub-limits appear only in the issued policy.company-reportedSource ↗
  • coverage: Beazley says its Commercial Crime policy includes a fraudulent-instruction (social-engineering) insuring agreement covering losses from wire transfers made on instructions from someone posing as a vendor, client or authorized employee, and that this cover is conditioned on out-of-band authentication of payment instructions. Product-page description; Beazley says the out-of-band-authentication condition can be removed for insureds with documented controls and response plans, subject to an additional premium.company-reportedSource ↗
  • limits: Beazley advertises Commercial Crime limits of up to US $25,000,000. The page does not publish retentions, sub-limits by insuring agreement, or a minimum limit. Product-page headline limit figure; the page does not split the figure between Commercial Crime and Financial Fidelity Bonds.company-reportedSource ↗
  • services: Beazley says its underwriting and claims professionals for this line work side by side so that, when a claim arises, the original underwriting intent of the policy is respected. Company-stated internal process description; no independent claims-handling outcome data is provided.company-reportedSource ↗
  • application: Beazley lists a standalone Crime application, a Massachusetts-specific Crime application and a separate Social Engineering application among its Tools & Resources, distinct from the Financial Fidelity Bond application forms on the same page. Tools & Resources section of the product page; the page does not describe an online quote or self-service purchase flow.company-reportedSource ↗
  • claims: The product page links to Beazley's general claim-notification channel for this line. It does not disclose a claims response-time commitment or a dedicated claims-handling process specific to Commercial Crime. Product page "Notify a Claim" link as read on 2026-09-23; response times were not found.not-disclosedSource ↗

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