What Are the Key Differences Between Chubb and Lockton Crime Insurance?
Broker Claims Team Versus Digital Binding
Lockton serves nonprofit, private and public organizations, and says its Professional & Executive Risk Claims team integrates insurance and claims counsel into the broking team to handle crime and fidelity claims. Chubb Marketplace targets organizations under 250 employees and $50 million in revenue, with digital quote and bind; its reviewed materials do not describe a comparable claims-advocacy team. Choose Lockton if you want a broker and a named team to advocate on a crime claim; choose Chubb if your company fits the size caps and online binding is your priority. [5] [3]
Cover Lists and Paper
Lockton lists employee theft, forgery or alteration, theft on or off premises, computer fraud, counterfeit currency, and social-engineering impersonation fraud. Chubb lists social-engineering fraud, employee theft including temporary and contracted workers, client theft, and funds-transfer fraud, and names ACE American and affiliates. Lockton’s page does not name the insurers it places with. ForeFront, including Crime, is available on Chubb Marketplace. [5] [4] [3]
What Should You Confirm in Chubb and Lockton Crime Insurance Quotes?
- Ask Lockton whether you need a financial institution bond rather than general crime and fidelity. [5]
- Confirm you fit Chubb’s ForeFront size band and get crime limits. [3] [4]
- Ask how Lockton’s Professional & Executive Risk Claims team would handle a crime loss. [5]
- Get Lockton’s issuing insurer; Chubb’s sheet names ACE American. [5] [4]