What Are the Key Differences Between Coverdash and Gallagher Crime Insurance?
If you have a large account and need help sizing a limit, Gallagher describes an analysis using peer data and an exposure index; Coverdash publishes no crime limit or limit-setting method. Small businesses start through Gallagher’s advisor form. [6] [3] [7]
Limit Method Gallagher Describes
For larger accounts, Gallagher says its methodology for setting crime coverage limits includes peer analysis using third-party databases and an exposure index developed by the Surety Association of America with the American Institute of Accountants. Coverdash’s crime page does not describe a limit-setting methodology and does not publish figures. Gallagher’s pages also do not publish specific limits. [6] [3] [7]
Perils Each Page Names
Coverdash describes employee theft, forged checks and counterfeit currency, funds-transfer fraud and social engineering. Gallagher describes Fidelity and Crime as covering fraudulent or dishonest acts, including credit card forgery, computer fraud, funds-transfer fraud, employee fraud, theft and destruction of property. Neither crime page names the issuing insurer. [3] [7]
Who It Is For
Coverdash markets to businesses that handle money, payroll or valuable inventory. Gallagher recommends the coverage for small businesses exposed to funds-transfer, computer or employee fraud, or destruction of personal property, with a separate practice for larger executive-risk accounts. [3] [7] [6]
What Should You Confirm in Coverdash and Gallagher Crime Insurance Quotes?
- Ask Gallagher whether your crime quote is small-business or executive-risk, and which carrier issues it. [7] [6]
- Get Coverdash’s issuing carrier and compare both limits. [3]
- Ask whether Gallagher’s credit-card forgery and property-destruction perils appear on Coverdash’s placed form. [7] [3]
- Ask Coverdash how crime and cyber would coordinate on overlapping fraud. [4]