Corgi vs Lockton: Commercial Crime Insurance

Corgi's standalone crime policy for startups comes with proof of coverage it says it can issue the same day; Lockton places crime and fidelity as a brokered program for nonprofit, private and public organizations of any sector.

Van Ness Partners presents a practical comparison of source materials relevant to financial crime exposures.Research updated 2026-09-29

What Are the Key Differences Between Corgi and Lockton Crime Insurance?

Lockton distinguishes financial-institution bonds from general crime coverage and names a Professional & Executive Risk Claims team; Corgi sells a same-day online Crime & Fidelity policy for startups moving customer funds. Choose Lockton if your financial institution needs a bond or you want a broker claims team; choose Corgi if you are a fintech, payroll firm or marketplace needing standalone startup cover. [5] [3]

Same-Day Startup Policy Versus Brokered Program

Corgi sells Crime & Fidelity as a standalone startup policy and says it can issue a binder the same day from an online application. Lockton places Crime and Fidelity as a brokered program protecting against theft, fraud, forgery and embezzlement; Lockton does not underwrite. [3] [5]

Fintech Form Versus FI Bond Distinction

Corgi aims the policy at fintechs, payroll companies and marketplaces and writes it on a discovery basis with an illustrative $1 million limit. Lockton says crime is relevant to nonprofit, private and public organizations of any sector, flags small businesses that lack audit resources, and notes financial institutions are frequently required to carry a financial institution bond distinct from general crime. [3] [5]

Claim Types and Paper

Lockton lists employee theft, forgery, theft on or off premises, computer fraud, counterfeit currency and social-engineering impersonation. Corgi bundles employee dishonesty, social engineering, computer fraud, funds-transfer fraud and forgery, with a common $250,000 social-engineering sublimit. Corgi’s disclaimers name possible underwriters; Lockton’s page does not name placing insurers. [5] [3] [4]

What Should You Confirm in Corgi and Lockton Crime Insurance Quotes?

  • Ask Lockton whether you need a financial institution bond rather than general crime; Corgi’s product is Crime & Fidelity for startups, not that bond. [5] [3]
  • Get Lockton’s placing insurer and limit; compare with Corgi’s $1 million illustration. [5] [3]
  • Confirm discovery wording on Corgi against Lockton’s placed form. [3] [5]
  • Ask how Lockton’s claims team would handle a social-engineering loss versus Corgi’s documented out-of-band control condition. [5] [3]

Corgi fits fintechs wanting online Crime & Fidelity and a same-day binder; Lockton serves private, public and nonprofit organizations and offers claims support through its Professional & Executive Risk team.

Sources consulted

  1. 01
    Commercial Insurance Guide

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

  2. 02
    Social Engineering Fraud Insurance

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

  3. 03
    Crime & Fidelity Insurance for Startups

    Corgi Insurance · What's Actually Inside Your Crime & Fidelity Policy (form CORG-CRM-0100); Anatomy of a $1M/$1M/$10K policy; Scenario notes; Industry Applicability & Compliance; FAQ · accessed 2026-09-23

  4. 04
    Disclaimers

    Corgi Insurance · Carrier Financial Strength: 'Coverage may be underwritten through affiliated or partner carriers, including Corgi Insurance Company, Inc. ... Certain coverages may also be underwritten by Technology Risk Retention Group, Inc.' · accessed 2026-09-23

  5. 05
    Crime and Fidelity Insurance

    Lockton · What is Crime and Fidelity Insurance?; Who needs to purchase Crime and Fidelity Insurance?; Types of Crime and Fidelity claims; Claims management · accessed 2026-09-23

  6. 06
    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

  7. 07
    Crime Non-Financial Applications and Forms

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

  8. 08
    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

Crime coverage

Corgi

  • role: Corgi sells Crime & Fidelity as a standalone startup policy, describing it as first-party coverage that pays the company back when money (not data) is stolen through employee theft, social engineering, computer fraud, forgery or funds-transfer fraud. Product page for form CORG-CRM-0100, last reviewed by Corgi on April 24, 2026 per the page itself.company-reportedSource ↗
  • coverage: The standard policy bundles four insuring agreements: employee dishonesty, social engineering fraud (business email compromise), computer fraud, and funds transfer fraud, plus forgery and alteration of checks or drafts. Coverage summary for form CORG-CRM-0100; the illustrated scenarios are examples, not a guarantee of coverage for a specific claim, and the issued policy controls.company-reportedSource ↗
  • coverage: Social engineering fraud (business email compromise) is commonly sublimited to $250,000 against the $1 million policy aggregate, and Corgi conditions the sublimit on documented out-of-band verification controls for changes to vendor wire instructions. Product-page scenario notes and FAQ; the exact sublimit and required controls are underwriting-dependent and confirmed on the declarations page.company-reportedSource ↗
  • coverage: Corgi's Crime & Fidelity policy is written on a discovery basis, meaning coverage attaches when a loss is discovered during the policy period regardless of when the underlying dishonest act occurred, and it offers an optional discovery period of up to one year after termination to report a loss. Product-page glossary and FAQ description of form CORG-CRM-0100.company-reportedSource ↗
  • limits: Corgi's illustrative Crime & Fidelity structure shows a $1,000,000 per-occurrence and aggregate limit across its insuring agreements, with a $10,000 self-insured retention per occurrence. Illustrative policy structure on the product page ('Anatomy of a $1M / $1M / $10K Crime & Fidelity Policy'); actual limits and retentions appear on the declarations and Corgi says standard limits scale with payment volume for growth-stage and at-scale companies.company-reportedSource ↗
  • insurer: Corgi's disclaimers say coverage may be underwritten through affiliated or partner carriers, including Corgi Insurance Company, Inc. (an admitted carrier) or Technology Risk Retention Group, Inc.; the crime product page itself does not name which entity underwrites a given Crime & Fidelity policy. General carrier-financial-strength disclosure that applies across Corgi's product lines, not a crime-specific underwriter statement; your policy names the actual insurer.company-reportedSource ↗
  • application: Corgi says it can issue Crime & Fidelity coverage and a binder the same day, and offers instant quotes in under 10 minutes through its online application. FAQ marketing claims on the product page; quote and bind speed are not independently verified.company-reportedSource ↗
  • eligibility: Corgi positions Crime & Fidelity primarily for fintechs, payroll companies and marketplaces that move customer funds, noting it is frequently required by sponsor banks and Banking-as-a-Service (BaaS) partners before a fintech can go live. Industry-applicability section of the product page; other startups can also buy the policy, and eligibility for any given business depends on underwriting.company-reportedSource ↗

Lockton

  • role: Lockton places Crime and Fidelity insurance to protect businesses against financial losses from theft, fraud, forgery and embezzlement by employees or third parties; it describes this as a brokered program, not a policy Lockton underwrites. Crime and Fidelity product page as read 2026-09-23.company-reportedSource ↗
  • eligibility: Lockton says crime coverage is relevant to nonprofit, private and public organizations of any sector, and calls out small businesses as particularly exposed because they often lack fraud-prevention and auditing resources. It also notes financial institutions are frequently required to carry a financial institution bond, distinct from general crime coverage. Crime and Fidelity product page as read 2026-09-23.company-reportedSource ↗
  • coverage: Lockton lists the claim types a crime and fidelity program is meant to address: employee theft, forgery or alteration of negotiable instruments, theft on or off premises, computer fraud, counterfeit currency, and social engineering (impersonation) fraud involving customers, vendors or employees. Product page as read 2026-09-23; a capability/claim-type list, not a specimen policy.company-reportedSource ↗
  • claims: Lockton says its Professional & Executive Risk Claims team, which integrates insurance and claims counsel within the broking team rather than treating claims advocacy as a separate profit center, handles Crime and Fidelity claims. Product page as read 2026-09-23. Describes Lockton's advocacy role, not an insurer's claim-paying obligation.company-reportedSource ↗
  • insurer: The page does not name the insurers Lockton places crime and fidelity coverage with. Crime and Fidelity page checked 2026-09-23.not-disclosedSource ↗

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