What Are the Key Differences Between Beazley and Embroker Crime Insurance?
Limit Size and How You Buy It
Beazley underwrites Commercial Crime for ordinary commercial companies and advertises limits up to $25 million, with separate Crime, Massachusetts Crime and Social Engineering applications. Embroker sells a standalone crime policy but says smaller businesses sometimes add crime as an endorsement to a BOP or directors and officers policy, and it publishes no standard limits. Choose Beazley if you need a large standalone limit; choose Embroker if you're a smaller business that would rather extend a policy you already carry. [1] [4]
Wire-Fraud Cover and Its Conditions
Beazley's fraudulent-instruction agreement covers wires sent on fake vendor, client or employee instructions, but only if you verify payment instructions through a separate channel; it says documented controls can remove that condition for extra premium. Embroker lists social-engineering fraud among covered losses without describing any such condition. If your team doesn't call back to verify wire changes, that condition decides whether a Beazley claim pays. [1] [4]
Exclusions and Fidelity Bonds
Embroker says its policy excludes lost income, indirect losses, executives colluding with employees, third-party liability and theft of patents, trade secrets or customer lists. It also explains that a fidelity bond, typically 0.5% to 2% of the bond value, can reimburse customers harmed by crime, while crime insurance usually carries higher limits. Beazley keeps fidelity bonds for financial institutions as a separate product and doesn't publish exclusions. [4] [1]
What Should You Confirm in Beazley and Embroker Crime Insurance Quotes?
- Ask Embroker whether the quote is standalone crime, a BOP or D&O endorsement, or a fidelity bond. [4]
- Ask Beazley what limit and retention it will actually offer against the $25 million maximum. [1]
- Confirm the payment-verification condition on Beazley's social-engineering cover and any sublimit on Embroker's. [1] [4]
- Ask Embroker which insurer issues the policy and how you get a crime quote; its page links only to a general quote form. [4]