Hub International vs Lockton: Commercial Crime Insurance

Both are brokers. HUB International lists vendor theft and asset misappropriation and cites fraud statistics; Lockton lists employee theft, counterfeit currency and social engineering and runs claims through an in-house team.

Van Ness Partners presents a practical comparison of source materials relevant to financial crime exposures.Research updated 2026-09-25

HUB serves private, public and nonprofit organizations and lists vendor theft, forgery and funds-transfer fraud; Lockton serves those groups with a dedicated crime claims team and flags financial-institution bonds as a separate product.

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 Insurance Brokers

    HUB International · Fraud-loss statistics; coverage types: employee theft, vendor theft, forgery, asset misappropriation, computer fraud, funds transfer fraud; organization types: private, public, not-for-profit; Connect With a Broker · accessed 2026-09-23

  4. 04
    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

  5. 05
    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

  6. 06
    Crime Non-Financial Applications and Forms

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

  7. 07
    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

What Are the Key Differences Between HUB International and Lockton Crime Insurance?

For a financial institution, Lockton says a financial institution bond may be required instead of general crime coverage. HUB names vendor theft and asset misappropriation among its covered crime types; neither broker publishes limits. [4] [3]

Two Brokered Crime Programs

HUB brokers commercial crime insurance rather than underwriting it. Lockton places Crime and Fidelity to protect businesses against losses from theft, fraud, forgery and embezzlement by employees or third parties and describes this as a brokered program, not a policy Lockton underwrites. HUB’s crime page does not name an issuing insurer; Lockton’s page also does not name the insurers it places with. [3] [4]

Vendor Theft Versus Social Engineering and FI Bonds

HUB lists employee theft, vendor theft, forgery, asset misappropriation, computer fraud and funds-transfer fraud. 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]

Private, Public and Nonprofit Buyers

HUB says crime coverage is available for private, public and not-for-profit organizations. 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. Neither page publishes policy limits, deductibles or premiums. [3] [4]

What Should You Confirm in HUB International and Lockton Crime Insurance Quotes?

  • Ask HUB whether vendor theft is on the form; ask Lockton whether social-engineering impersonation and on-or-off-premises theft are on the form. [3] [4]
  • If you are a financial institution, ask Lockton whether a financial institution bond is required. [4]
  • Ask how Lockton’s Professional & Executive Risk Claims team would handle a crime claim compared with HUB’s broker contact path. [4] [3]
  • Get the writing company and limits from both. [3] [4]

Crime coverage

HUB International

  • role: HUB brokers commercial crime insurance rather than underwriting the coverage itself. Crime insurance product page as read 2026-09-23; the page does not name an issuing insurer.company-reportedSource ↗
  • coverage: HUB lists crime coverage types it arranges as employee theft, vendor theft, forgery, asset misappropriation, computer fraud and funds transfer fraud. Product-page coverage list; the issued policy and its exclusions control an actual claim.company-reportedSource ↗
  • eligibility: HUB says crime coverage is available for private, public and not-for-profit organizations. Product-page organization-type list; not a published underwriting appetite by size or industry.company-reportedSource ↗
  • coverage: HUB cites industry statistics that organizations lose about 5% of revenue to fraud each year, that fraud often takes about 18 months to detect, and that more than 23% of fraud cases result in losses of $1 million or more, to frame the need for crime coverage. Product-page statistics are company-cited figures, not independently verified by Spot, and are general fraud statistics rather than HUB-specific claims data.company-reportedSource ↗
  • insurer: The crime insurance page does not name an issuing insurer; HUB places crime coverage with carriers that vary by client and placement. Checked the crime insurance product page on 2026-09-23; no carrier is disclosed there.not-foundSource ↗
  • limits: Published policy limits, deductibles or premium information for HUB-placed crime coverage were not found on the product page. Checked the crime insurance product page on 2026-09-23; limits are set on the quote and declarations.not-disclosedSource ↗
  • application: HUB directs prospects to connect with a broker through its business-insurance contact page; no online quote flow is described. Product-page call to action as read 2026-09-23.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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