What Are the Key Differences Between Lockton and Marsh Crime Insurance?
Marsh’s placement range describes complex programs it has handled, not a quoted limit; its infill option adds social-engineering protection above an existing program. Lockton names claims support and calls out a separate bond need for financial institutions. [4] [3]
Two Large-Broker Crime Practices
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. Marsh’s financial and professional liability practice places commercial crime, and Marsh McLennan Agency also places crime bundled with fidelity. You engage Marsh’s crime specialists directly. Neither reviewed page names the issuing insurers. [3] [4] [5]
Crime Services Each Broker Describes
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. Marsh says it provides insights on emerging crime risks, claim examples, market conditions and product education throughout renewal and placement, and offers infill and top-up social-engineering cover in excess of a client’s existing program. [3] [4]
Perils, FI Bonds and Ransomware
Lockton lists employee theft, forgery or alteration of negotiable instruments, theft on or off premises, computer fraud, counterfeit currency, and social-engineering impersonation fraud, and notes financial institutions are frequently required to carry a financial institution bond distinct from general crime coverage. Marsh lists employee white-collar fraud, third-party fraud, collusion, hacking or computer-related crime, social-engineering fraud and tangible-asset theft, and notes that crime policies usually exclude ransomware though most cover funds stolen by hackers. [3] [4]
What Should You Confirm in Lockton and Marsh Crime Insurance Quotes?
- Ask Marsh whether the quote is Marsh corporate or MMA and whether the limit sits in the $10–$110 million range it cites. [4] [5]
- Confirm whether ransomware is excluded and whether Marsh social-engineering infill is included. [4]
- Ask how Lockton’s Professional & Executive Risk Claims team would handle a theft claim. [3]