Beazley vs Corgi: Commercial Crime Insurance

Aimed at fintechs, payroll companies and marketplaces, Corgi's standalone Crime & Fidelity policy comes with quotes in under 10 minutes and an illustrative $1,000,000 limit; Beazley underwrites commercial crime for commercial companies, advertising limits up to $25 million.

Van Ness Partners presents a practical comparison of source materials relevant to financial crime exposures.Research updated 2026-09-29

Beazley writes Commercial Crime for established commercial companies with limits up to $25 million using downloadable application forms. Corgi sells a startup Crime & Fidelity policy, illustrated at $1 million with a $10,000 retention, for fintechs, payroll companies and marketplaces, with online quotes and same-day binders.

Sources consulted

  1. 01
    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

  2. 02
    Commercial Insurance Guide

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

  3. 03
    Social Engineering Fraud Insurance

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

  4. 04
    Crime & Fidelity Insurance for Startups

    Corgi Insurance · What's Actually Inside Your Crime & Fidelity Policy (form CORG-CRM-0100); Anatomy of a $1M/$1M/$10K policy; Scenario notes; Industry Applicability & Compliance; FAQ · accessed 2026-09-23

  5. 05
    Disclaimers

    Corgi Insurance · Carrier Financial Strength: 'Coverage may be underwritten through affiliated or partner carriers, including Corgi Insurance Company, Inc. ... Certain coverages may also be underwritten by Technology Risk Retention Group, Inc.' · accessed 2026-09-23

  6. 06
    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

  7. 07
    Crime Non-Financial Applications and Forms

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

  8. 08
    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 Beazley and Corgi Crime Insurance?

Built for Fintech Go-Live vs Larger Commercial Programs

Corgi positions its policy for companies that move customer funds, often because a sponsor bank or Banking-as-a-Service partner requires crime cover before launch, and says it quotes online in under 10 minutes and can bind the same day. Beazley markets Commercial Crime to ordinary commercial companies (banks go to its separate fidelity bonds) and lists downloadable Crime and Social Engineering applications rather than an online quote. Choose Corgi if you are a fintech, payroll or marketplace startup that needs proof of crime cover this week; choose Beazley if you need more than a $1 million limit or cover for client property, in-transit loss and credit-card fraud. [4] [1]

How Much Limit You Can Get

Beazley advertises limits up to $25 million but publishes no retentions or sublimits. Corgi's illustration is $1 million per occurrence and aggregate with a $10,000 retention, and it says limits scale with payment volume as you grow. [1] [4]

Wire-Fraud Cover Depends on Your Controls

Both tie social-engineering cover to out-of-band checks on payment instructions. Corgi commonly sublimits it to $250,000 inside the $1 million aggregate and requires documented verification of vendor wire changes. Beazley conditions its fraudulent-instruction agreement on out-of-band authentication but says the condition can be removed, for an extra premium, if you document controls and response plans. [4] [1]

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

  • Ask Corgi for the social-engineering sublimit on your quote and which entity issues it; its disclaimers name Corgi Insurance Company, Inc. or Technology Risk Retention Group, Inc. as possible insurers. [4] [5]
  • Ask Beazley for the retention and any sublimits behind the $25 million headline, and the price of removing the out-of-band condition. [1]
  • Corgi's form is written on a discovery basis with an optional one-year extended reporting window; confirm the trigger on Beazley's form. [4] [1]
  • If a sponsor bank requires crime cover, ask it which limit and form it will accept before you bind. [4]

Crime coverage

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 ↗

Corgi

  • role: Corgi sells Crime & Fidelity as a standalone startup policy, describing it as first-party coverage that pays the company back when money (not data) is stolen through employee theft, social engineering, computer fraud, forgery or funds-transfer fraud. Product page for form CORG-CRM-0100, last reviewed by Corgi on April 24, 2026 per the page itself.company-reportedSource ↗
  • coverage: The standard policy bundles four insuring agreements: employee dishonesty, social engineering fraud (business email compromise), computer fraud, and funds transfer fraud, plus forgery and alteration of checks or drafts. Coverage summary for form CORG-CRM-0100; the illustrated scenarios are examples, not a guarantee of coverage for a specific claim, and the issued policy controls.company-reportedSource ↗
  • coverage: Social engineering fraud (business email compromise) is commonly sublimited to $250,000 against the $1 million policy aggregate, and Corgi conditions the sublimit on documented out-of-band verification controls for changes to vendor wire instructions. Product-page scenario notes and FAQ; the exact sublimit and required controls are underwriting-dependent and confirmed on the declarations page.company-reportedSource ↗
  • coverage: Corgi's Crime & Fidelity policy is written on a discovery basis, meaning coverage attaches when a loss is discovered during the policy period regardless of when the underlying dishonest act occurred, and it offers an optional discovery period of up to one year after termination to report a loss. Product-page glossary and FAQ description of form CORG-CRM-0100.company-reportedSource ↗
  • limits: Corgi's illustrative Crime & Fidelity structure shows a $1,000,000 per-occurrence and aggregate limit across its insuring agreements, with a $10,000 self-insured retention per occurrence. Illustrative policy structure on the product page ('Anatomy of a $1M / $1M / $10K Crime & Fidelity Policy'); actual limits and retentions appear on the declarations and Corgi says standard limits scale with payment volume for growth-stage and at-scale companies.company-reportedSource ↗
  • insurer: Corgi's disclaimers say coverage may be underwritten through affiliated or partner carriers, including Corgi Insurance Company, Inc. (an admitted carrier) or Technology Risk Retention Group, Inc.; the crime product page itself does not name which entity underwrites a given Crime & Fidelity policy. General carrier-financial-strength disclosure that applies across Corgi's product lines, not a crime-specific underwriter statement; your policy names the actual insurer.company-reportedSource ↗
  • application: Corgi says it can issue Crime & Fidelity coverage and a binder the same day, and offers instant quotes in under 10 minutes through its online application. FAQ marketing claims on the product page; quote and bind speed are not independently verified.company-reportedSource ↗
  • eligibility: Corgi positions Crime & Fidelity primarily for fintechs, payroll companies and marketplaces that move customer funds, noting it is frequently required by sponsor banks and Banking-as-a-Service (BaaS) partners before a fintech can go live. Industry-applicability section of the product page; other startups can also buy the policy, and eligibility for any given business depends on underwriting.company-reportedSource ↗

Contact Van Ness Partners to discuss controls, exposures and insurance options.

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