What Are the Key Differences Between Lockton and Newfront Crime Insurance?
Newfront describes integrated claims negotiation and round-the-clock policy access across Executive Risk, but groups crime with fidelity rather than listing crime agreements. [4] [3]
Itemized Crime and Fidelity Versus a Combined Label
Lockton places Crime and Fidelity as a brokered program, not a policy it underwrites, and lists employee theft, forgery or alteration of negotiable instruments, theft on or off premises, computer fraud, counterfeit currency, and social-engineering impersonation fraud. Newfront brokers crime as part of Executive Risk, grouped with fidelity under one Key Coverages entry, and its Executive Risk page does not separately describe crime-specific insuring agreements such as employee theft, computer fraud or funds-transfer fraud. Neither page names the insurer. [3] [4]
Claims Counsel in the Broking Team Versus Integrated Negotiation
Lockton says its Professional & Executive Risk Claims team integrates insurance and claims counsel within the broking team rather than treating claims advocacy as a separate profit center. Newfront says it provides integrated claims and coverage negotiation for Executive Risk lines, which would apply to a crime claim, and that clients get 24/7 dashboard access to policies, certificates and billing with renewals using pre-populated historical data. [3] [4]
Who Each Practice Names as a Buyer
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. Newfront says Executive Risk services private companies from seed round through every series of funding and describes work with over 500 publicly traded companies, without a crime-specific eligibility threshold. [3] [4]
What Should You Confirm in Lockton and Newfront Crime Insurance Quotes?
- Ask Newfront which agreements sit under Fidelity and Crime compared with Lockton’s listed claim types. [4] [3]
- If you are a financial institution, ask Lockton whether a financial institution bond is required. [3]
- Compare how each firm would handle a crime claim: Lockton’s Professional & Executive Risk Claims team versus Newfront’s integrated claims negotiation. [3] [4]
- Get the writing company and limits from both. [3] [4]