What Are the Key Differences Between Aon and Beazley Crime Insurance?
Who Underwrites the Policy
Aon presents Crime as a line its Professional Services Practice helps arrange or advise on, rather than issuing the underlying policy. Beazley says it underwrites Commercial Crime for commercial companies and addresses financial institutions separately through fidelity bonds. Ask Aon which carrier will issue your policy and confirm whether Beazley’s commercial form fits your organization. [1] [2]
Crime Losses and Limit
Beazley lists employee theft of money and securities, forgery, on-premises and in-transit loss, computer fraud, client-property loss, and social engineering subject to out-of-band payment verification; it advertises limits up to $25 million. Aon lists Crime but gives no covered acts or limit, so request the proposed insuring agreements and sublimits. [2] [1]
Claims Coordination and Application
Beazley says its underwriting and claims professionals work together and lists standalone and Massachusetts-specific crime applications plus a separate social-engineering application. Aon describes brokerage and professional-services risk advice but no crime-specific application or claim process. Ask Aon about its submission route and claim advocacy contact. [2] [1]
What Should You Confirm in Aon and Beazley Crime Insurance Quotes?
- Which social-engineering authentication controls, sublimits, retentions, and maximum limit will Beazley offer?
- For Aon, identify the insurer, covered crime agreements, and who coordinates a claim.