What Are the Key Differences Between Alliance Risk and CFC Crime Insurance?
Bundled Package vs Brokered Crime Cover
With CFC you buy crime as one section of a wider management-liability policy, and its fintech package separately includes employee infidelity and third-party fraud. Alliance Risk shops crime cover for you and names cash-handling, payments, healthcare, retail and logistics businesses and nonprofits among typical buyers. Choose CFC if you are an eligible private company that also wants D&O and related cover in one policy; choose Alliance Risk if you are California-domiciled, publicly traded or only need crime. [7] [5] [2]
What Each Lists as Covered
Both list employee theft and funds-transfer fraud. Alliance Risk adds forgery, social-engineering impersonation and burglary and robbery, with client-property theft only by endorsement; CFC's brochure includes client crime and on- and off-premises theft in the crime section. Alliance Risk excludes business income lost to a crime unless endorsed, and it excludes dishonest acts by owners or partners. [2] [7]
Cost, Limits and Claims
Alliance Risk publishes typical premiums of $500–$2,000 a year for small businesses up to $10,000–$50,000+ for large ones; CFC publishes no price. Neither publishes crime limits or retentions. CFC gives a US claim-notification line and says a dedicated adjuster handles each claim, while Alliance Risk's crime page does not say who manages a claim. [2] [7] [4]
What Should You Confirm in Alliance Risk and CFC Crime Insurance Quotes?
- Ask CFC whether you'd be quoted through management liability or the fintech package, and whether crime can be bought on its own. [7] [5]
- Get the crime limit, sublimits and retention in writing from both. [2] [7]
- Ask both which insurer or Lloyd's syndicate issues the policy; neither names it for US crime cover. [2] [8]
- Ask Alliance Risk to add client-property theft and business-income loss by endorsement if you need them. [2]
- Ask Alliance Risk who you call to report a crime loss. [2]