Lockton vs Markel: Commercial Crime Insurance

Lockton places brokered crime and fidelity programs for nonprofit, private and public organizations, with a claims team inside its broking team; Markel Insurance lists eCrime within Cyber 360 for unauthorized money transfers and fake payment instructions.

Van Ness Partners presents a practical comparison of source materials relevant to financial crime exposures.Research updated 2026-09-30

Lockton lists employee theft, forgery, computer fraud, counterfeit currency, and social engineering among crime and fidelity scenarios, with a dedicated claims team. Markel’s reviewed eCrime coverage is part of Cyber 360 and does not establish a standalone crime policy.

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

Crime and Fidelity Program Scope

Lockton places crime and fidelity insurance as a brokered program and lists employee theft, forgery or alteration, on- and off-premises theft, computer fraud, counterfeit currency, and social engineering involving customers, vendors, or employees. Markel’s page places eCrime in Cyber 360, citing unauthorized transfers and fake payment instructions without establishing a standalone crime form. Lockton’s list gives a wider set of named crime scenarios; ask for the actual form to determine which losses and insured parties meet its definitions. [3] [4]

Buyer Type and Claims Support

Lockton says its program is relevant to nonprofit, private, and public organizations across sectors, and describes a Professional & Executive Risk Claims team that handles Crime and Fidelity claims. Markel’s reviewed description instead ties eCrime resources to Cyber 360 policyholders and does not describe a crime-specific claims team. If claims advocacy is part of your buying decision, ask Lockton how that team works on your placement and Markel who handles an eCrime loss under the cyber policy. [3] [4]

Financial Institution Bond Distinction

Lockton distinguishes a financial institution bond, often required for financial institutions, from general crime coverage. Markel’s eCrime description covers examples involving fraudulent money transfers and payment instructions but does not state whether a bond is available. Financial institutions should confirm whether their requirement calls for a bond or a crime policy before comparing Markel’s Cyber 360 component. [3] [4]

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

  • Ask Lockton which insurer will issue the crime and fidelity placement and whether your institution needs a financial institution bond. [3]
  • Ask Markel whether the Cyber 360 eCrime section covers your specific transfer or social-engineering scenario and who handles the claim. [4]
  • Request the crime limit, retention, and definitions for employee, vendor, and customer-related fraud from both placements. [3]

Crime coverage

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 ↗

Markel Insurance

  • role: Markel lists eCrime within the fraud and unauthorized-use section of Cyber 360; the reviewed source does not establish a standalone commercial crime policy from this page. Cyber policy component only; not a fidelity bond.company-reportedSource ↗
  • coverage: The page says eCrime may cover expenses from fraudulent activity such as unauthorized money transfers and fake payment instructions, subject to policy terms. Cyber 360 marketing description; does not establish a general crime-form grant.company-reportedSource ↗
  • eligibility: Markel describes these resources and coverages for Cyber 360 policyholders; the exact availability and terms require the quoted policy. Policyholder-specific access and policy wording apply.company-reportedSource ↗

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 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

  4. 04
    Cyber Insurance Coverage

    Markel · Cyber 360 coverage options: media liability; technology professional liability; eCrime; coverages listed within the cyber policy · accessed 2026-09-29

  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

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