CFC vs Wtw: Commercial Crime Insurance

CFC includes crime in its US Management Liability package, with a dedicated claims adjuster managing each claim; WTW normally acts as your broker and reviews policy documents.

Van Ness Partners presents a practical comparison of source materials relevant to financial crime exposures.Research updated 2026-10-01

CFC says its US Management Liability package includes crime cover for employee theft and funds-transfer fraud. WTW’s FY2024 annual report listed crime solutions in FINEX, but does not establish current U.S. availability or buyer-specific terms.

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

Package context and covered fraud

CFC places crime within its US Management Liability package rather than offering it as a standalone part of that package. Its brochure lists employee theft, funds-transfer fraud, credit-card and currency fraud, plus client crime and on- or off-premises theft. WTW’s FY2024 annual report listed crime solutions within FINEX, but that historical group-level statement does not establish current U.S. availability or these agreements. Ask CFC how the crime section interacts with the rest of management liability, and ask WTW for the policy’s specific insuring agreements. [5] [11]

Claims handling and availability

CFC describes a dedicated adjuster from notice through resolution, with phone, email, and online notification routes. WTW’s FY2024 annual report lists crime in FINEX but provides only historical, global practice context, not a current U.S. claims route. Confirm whether WTW currently places U.S. crime coverage and, if so, obtain the insurer’s claim-notice instructions before comparing service arrangements. [2] [11]

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

  • Is your company eligible for CFC’s US Management Liability package, and what limits apply separately to company crime and client crime? [5]
  • Does WTW currently place U.S. crime coverage, and if so, which insurer, claim-notice address, and crime agreements will appear in the binder? [11]

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 ↗

WTW

  • role: Under WTW's North American Corporate Risk & Broking terms, WTW normally acts as the client's insurance intermediary for engagements governed by those terms. Terms for applicable North American Corporate Risk & Broking engagements. WTW also discloses separate insurer-side services in some arrangements; this does not determine the role in a specific engagement.company-reportedSource ↗
  • coverage: WTW's FY2024 annual report lists crime insurance solutions within its global Financial, Executive and Professional Risks (FINEX) practice. Historical group-level service description only; it does not establish current U.S. availability, insurer, policy form, or a buyer's eligibility.company-reportedSource ↗
  • application: WTW's North American terms say an insurer quote is not confirmation of coverage; if the client orders binding, WTW seeks a formal insurer commitment, typically a binder. Applies to placements governed by the cited North American Corporate Risk & Broking terms. It does not establish a self-service quote route or promise coverage availability for this line.company-reportedSource ↗
  • services: WTW's North American terms describe reviewing binders, policies, and endorsements against the terms negotiated with the insurer. Broker document-review process under the cited terms, when WTW handles this line's placement. It does not certify that a policy covers a claim or replace the issued wording.company-reportedSource ↗
  • insurer: The reviewed WTW sources do not identify an issuing insurer for a specific crime placement. This is a gap in the cited marketing, annual-report, and brokerage materials; it does not mean WTW lacks insurer markets. Confirm the carrier on the quote and issued policy.not-disclosedSource ↗Source ↗
  • limits: The reviewed sources do not state a buyer-specific crime limit, retention, or deductible. No limit or deductible is inferred from general marketing or WTW's brokerage role; the insurer's quote and issued forms control.not-disclosedSource ↗Source ↗

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
    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

  9. 09
    Crime Non-Financial Applications and Forms

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

  10. 10
    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

  11. 11
    WTW 2024 Form 10-K

    U.S. Securities and Exchange Commission / Willis Towers Watson Public Limited Company · Part I, Item 1, FINEX and Surety business descriptions: the 2024 annual report identifies management and professional liability, employment practices, crime, cyber and M&A insurance solutions, and a global bond-placement team; indexed passages rechecked 2026-09-29. · accessed 2026-09-29

  12. 12
    Corporate Risk & Broking Brokerage Terms, Conditions & Disclosures (Canada & US)

    WTW · Document dated 2025-06-01; pp. 4–6: broker/intermediary role, quote versus binding process, review of binders/policies/endorsements, claims reporting and affiliate disclosures. Reused from the current WTW provider source record after direct PDF retrieval was blocked. · accessed 2026-09-28

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