What Are the Key Differences Between Heffernan Insurance Brokers and Lockton Crime Insurance?
Lockton also flags that financial institutions may need a financial institution bond, a separate product from general crime. [4] [3]
Home-Care Context Versus Lockton’s Brokered Program
Heffernan arranges crime listed as Crime – Third Party Theft inside packages for home care, home health and hospice businesses; this record only documents crime in that home-care context. Lockton places Crime and Fidelity to protect businesses against financial losses from theft, fraud, forgery and embezzlement by employees or third parties and describes this as a brokered program, not a policy Lockton underwrites. Neither reviewed page names the issuing insurers. [3] [4]
Package Items Versus Claim Types Lockton Names
Heffernan lists Crime – Third Party Theft and a separate Employee Dishonesty Bond among the coverages in its home-care package. Lockton lists 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. [3] [4]
Who Each Practice Names as a Buyer
Heffernan markets this crime coverage to home health and in-home providers, hospices, staffing agencies and registries, infusion therapy providers and personal care assistants, and says its home-care programs cover all states and agency sizes. 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. [3] [4]
What Should You Confirm in Heffernan Insurance Brokers and Lockton Crime Insurance Quotes?
- Confirm whether you belong on Heffernan’s home-care crime and employee dishonesty bond or Lockton’s Crime and Fidelity program. [3] [4]
- If you are a financial institution, ask Lockton whether a financial institution bond is required instead of general crime. [4]
- Ask how Lockton’s Professional & Executive Risk Claims team would handle a theft claim versus Heffernan’s home-care specialists. [4] [3]
- Get limits and the writing company from both; Heffernan’s page does not publish crime or bond amounts. [3] [4]