What Are the Key Differences Between CFC and Founder Shield Crime Insurance?
Package Cover Versus a Brokered Policy
With CFC, crime comes bundled with your management liability cover rather than as a standalone policy; CFC also sells a separate crime section inside its fintech package. Founder Shield, a brokerage within The Baldwin Group, takes your request and shops crime to outside carriers chosen for your industry. Choose CFC if you're buying management liability anyway and aren't California-domiciled or publicly traded in the U.S.; choose Founder Shield if CFC declines you or you want crime placed on its own. [5] [3] [8] [10]
What Each Lists as Covered
CFC’s crime section covers employee theft, funds-transfer fraud, credit-card and currency fraud, client crime (fraud by your clients or their staff) and on- or off-premises theft. Founder Shield lists employee dishonesty by an identified employee, forgery or alteration, computer fraud, and funds-transfer fraud from social engineering. If a client’s staff could steal from you, CFC is the only one of the two that names that cover. [5] [9]
Claims Handling and Buying Path
CFC takes US claim notices by phone, email or online form and assigns a dedicated adjuster from notification through resolution. Founder Shield doesn’t let you bind directly: you request coverage through its site or an advisor, and its placement team approaches carriers, so the claims process depends on the carrier it selects. [2] [8] [10]
What Should You Confirm in CFC and Founder Shield Crime Insurance Quotes?
- Ask Founder Shield which AM Best A- or better carrier is quoting and why it fits your industry. [10]
- Ask CFC whether your crime cover sits in the management or fintech package, and which carrier or syndicate issues it. [5] [3] [6]
- Confirm whether Founder Shield’s employee-dishonesty cover requires you to identify the employee. [9]
- Get crime limits and retentions from both; CFC’s brochure does not publish them. [5]