CFC vs Markel: Commercial Crime Insurance

Markel Insurance lists eCrime within the fraud section of Cyber 360, covering expenses from unauthorized money transfers and fake payment instructions subject to policy terms; CFC puts employee theft, funds transfer fraud and client crime in its US management liability package.

Van Ness Partners presents a practical comparison of source materials relevant to financial crime exposures.Research updated 2026-09-30

CFC lists employee theft, funds-transfer fraud, client crime, and theft within a Management Liability package. Markel describes eCrime for unauthorized transfers and fake payment instructions as a Cyber 360 component, not a demonstrated standalone crime policy.

What Are the Key Differences Between CFC and Markel Insurance Crime Insurance?

Crime Policy Placement

CFC places crime within its U.S. Management Liability package and its brochure lists employee theft, funds-transfer fraud, credit-card and currency fraud, client crime, and on- and off-premises theft. Markel’s reviewed page places eCrime inside Cyber 360 and does not establish a standalone commercial crime policy. If you need a dedicated fidelity or crime form, CFC’s package is explicitly described as crime coverage, while Markel’s documented route is a cyber-policy component; ask for the actual form before treating them as interchangeable. [5] [8]

Fraud Scenarios and Access

Markel specifically names unauthorized money transfers and fake payment instructions as examples of eCrime expenses, subject to policy terms. CFC lists funds-transfer fraud alongside employee and client crime in its package. Those labels may address overlapping events, but the published summaries do not show how each form treats social engineering, who may be protected, or whether coverage responds to a direct loss or related expense. CFC also identifies California-domiciled businesses and U.S. public companies among declined risks for the package; Markel describes the cyber resources for Cyber 360 policyholders. [8] [5] [8]

Published Limits

CFC’s brochure does not publish a crime limit, sublimit, or retention, and Markel’s eCrime overview likewise leaves exact terms to the quoted policy. Compare the crime-specific schedule and wording rather than relying on the broader Management Liability or Cyber 360 headline limit. [5] [8]

What Should You Confirm in CFC and Markel Insurance Crime Insurance Quotes?

  • Ask CFC for the crime section’s limit, sublimits, and retention within the Management Liability package, plus the issuing insurer for your placement. [5]
  • Ask Markel whether eCrime is included in your Cyber 360 form and whether it covers the exact transfer or payment-instruction scenario you face. [8]
  • If your business is California-domiciled or publicly traded in the U.S., ask CFC to confirm eligibility before completing an application. [5]

Crime coverage

CFC

  • role: CFC includes crime coverage inside its US Management Liability package. The reviewed management-liability materials do not offer it as a standalone product within that package. Management-liability product page and brochure; package composition as CFC describes it.company-reportedSource ↗Source ↗
  • eligibility: CFC's brochure lists California-domiciled business and US publicly traded companies among the risks it declines for the package that carries this crime coverage. Brochure's 'What we decline' list; underwriting still applies to any individual business.company-reportedSource ↗
  • coverage: CFC's brochure describes company crime cover including employee theft, funds transfer fraud, and credit card and currency fraud. Brochure's 'Crime cover' description; the issued policy wording determines the actual insuring agreements and any sub-limits.company-reportedSource ↗
  • coverage: The brochure also lists client crime, meaning fraud by clients or their staff, and on-premises and off-premises theft, as part of the crime section. Brochure's 'Crime cover' description.company-reportedSource ↗
  • coverage: CFC separately sells crime coverage for employee infidelity and third-party fraud within its fintech package. The reviewed pages do not state whether that fintech crime coverage is the same crime coverage sold inside the management-liability package. Fintech product page compared against the management-liability brochure; both accessed 2026-09-23. This does not establish overlap or difference in wording between the two products.company-reportedSource ↗Source ↗
  • limits: The reviewed brochure does not publish a dollar limit, sublimit or retention for crime coverage. Those figures appear only on the quote and declarations. Brochure as read on 2026-09-23.not-disclosedSource ↗
  • insurer: CFC's regulatory page discloses CFC Underwriting Limited's FCA authorization and CFC's Lloyd's Syndicate 1988, managed by Asta Managing Agency Ltd, but neither the regulatory page nor the management-liability brochure names the carrier or syndicate that would issue a given US crime policy. Regulatory information page and brochure as read on 2026-09-23.not-disclosedSource ↗Source ↗
  • claims: CFC provides a US claim-notification route by phone, email and online form, and says a dedicated claims adjuster manages a claim from notification through resolution. Claims page as read on 2026-09-23; not specific to crime claim outcomes or timing.company-reportedSource ↗

Markel Insurance

  • role: Markel lists eCrime within the fraud and unauthorized-use section of Cyber 360; the reviewed source does not establish a standalone commercial crime policy from this page. Cyber policy component only; not a fidelity bond.company-reportedSource ↗
  • coverage: The page says eCrime may cover expenses from fraudulent activity such as unauthorized money transfers and fake payment instructions, subject to policy terms. Cyber 360 marketing description; does not establish a general crime-form grant.company-reportedSource ↗
  • eligibility: Markel describes these resources and coverages for Cyber 360 policyholders; the exact availability and terms require the quoted policy. Policyholder-specific access and policy wording apply.company-reportedSource ↗

Sources consulted

  1. 01
    Commercial Insurance Guide

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

  2. 02
    Claims

    CFC · Notify a claim or cyber incident; We're in it with you · accessed 2026-09-23

  3. 03
    Fintech insurance

    CFC · What does CFC's fintech policy cover? Crime coverage for employee infidelity and third-party fraud · accessed 2026-09-23

  4. 04
    Management liability

    CFC · Our management liability products: Management liability, Side A DIC · accessed 2026-09-23

  5. 05
    Management liability — United States product brochure

    CFC · Crime cover; At a glance: What we like; What we decline; What else is in the policy? · accessed 2026-09-23

  6. 06
    Regulatory information

    CFC · CFC Underwriting Limited; CFC Lloyd's Syndicate 1988 · accessed 2026-09-23

  7. 07
    Social Engineering Fraud Insurance

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

  8. 08
    Cyber Insurance Coverage

    Markel · Cyber 360 coverage options: media liability; technology professional liability; eCrime; coverages listed within the cyber policy · accessed 2026-09-29

  9. 09
    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

  10. 10
    Crime Non-Financial Applications and Forms

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

  11. 11
    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

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