What Are the Key Differences Between Coverdash and Lockton Crime Insurance?
Financial institutions should ask Lockton whether they need a financial institution bond, which Lockton distinguishes from general crime coverage. Coverdash’s reviewed page does not discuss that distinction or describe claims advocacy. [6] [3]
Digital Brokerage Versus Claims-Integrated Broking
Coverdash arranges commercial crime as a broker and describes a fully digital quote-to-purchase process. Lockton places Crime and Fidelity as a brokered program and says its Professional & Executive Risk Claims team, which integrates insurance and claims counsel inside the broking team, handles those claims. Coverdash’s reviewed crime pages do not describe a comparable claims-advocacy team. [3] [5] [6]
Claim Types Lockton Itemizes
Lockton lists employee theft, forgery or alteration, theft on or off premises, computer fraud, counterfeit currency, and social-engineering impersonation involving customers, vendors or employees. Coverdash describes employee theft, forged checks and counterfeit currency, funds-transfer fraud and social engineering. Neither page names a placing insurer; Coverdash also does not publish limits. [6] [3]
What Should You Confirm in Coverdash and Lockton Crime Insurance Quotes?
- Ask Lockton whether you need a financial institution bond rather than general crime. [6]
- Get both issuing carriers and limits. [6] [3]
- Ask whether Lockton’s on-or-off-premises theft appears on Coverdash’s placed form. [6] [3]
- Ask Coverdash how crime and cyber would coordinate; ask Lockton how its claims team would advocate a social-engineering loss. [4] [6]