What Are the Key Differences Between Beazley and Founder Shield Crime Insurance?
Industry-Matched Carrier Screen Versus a Stated Maximum
Founder Shield says it selects carriers rated A- or better by AM Best for the client’s industry, but its reviewed materials do not name the crime insurer. Beazley offers its own Commercial Crime product and advertises limits up to $25 million. Choose Founder Shield if your business is in one of those sectors and you want an industry-matched A- or better carrier; choose Beazley if you want a standalone product with a published maximum. [6] [5] [1]
Coverage Lists and Industries
Founder Shield lists employee dishonesty (theft or embezzlement by an identified employee), forgery or alteration of financial instruments, computer fraud, and funds-transfer fraud from social engineering. Beazley lists employee theft of money and securities plus third-party-related losses including forgery, on-premises and in-transit loss, computer fraud, client-property loss, credit-card fraud and fraudulent-instruction cover conditioned on out-of-band authentication, and markets Commercial Crime to ordinary commercial companies rather than banks. [5] [1]
What Should You Confirm in Beazley and Founder Shield Crime Insurance Quotes?
- Ask Founder Shield which A- or better carrier is proposed and whether that carrier’s form includes client-property and in-transit loss, which Beazley lists. [6] [1]
- Ask Beazley for the bound limit versus the advertised $25 million maximum. [1]
- Confirm whether Founder Shield’s “identified employee” wording for employee dishonesty appears on the placed form. [5]
- Ask Beazley whether out-of-band authentication is required for fraudulent-instruction cover. [1]