Lockton vs Wtw: Commercial Crime Insurance

Lockton lists the crime losses its brokered program addresses and has a claims team inside its broking team; WTW normally acts as your broker, reviewing policy documents and seeking a formal insurer commitment on binding.

Van Ness Partners presents a practical comparison of source materials relevant to financial crime exposures.Research updated 2026-10-01

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 ↗

WTW

  • role: Under WTW's North American Corporate Risk & Broking terms, WTW normally acts as the client's insurance intermediary for engagements governed by those terms. Terms for applicable North American Corporate Risk & Broking engagements. WTW also discloses separate insurer-side services in some arrangements; this does not determine the role in a specific engagement.company-reportedSource ↗
  • coverage: WTW's FY2024 annual report lists crime insurance solutions within its global Financial, Executive and Professional Risks (FINEX) practice. Historical group-level service description only; it does not establish current U.S. availability, insurer, policy form, or a buyer's eligibility.company-reportedSource ↗
  • application: WTW's North American terms say an insurer quote is not confirmation of coverage; if the client orders binding, WTW seeks a formal insurer commitment, typically a binder. Applies to placements governed by the cited North American Corporate Risk & Broking terms. It does not establish a self-service quote route or promise coverage availability for this line.company-reportedSource ↗
  • services: WTW's North American terms describe reviewing binders, policies, and endorsements against the terms negotiated with the insurer. Broker document-review process under the cited terms, when WTW handles this line's placement. It does not certify that a policy covers a claim or replace the issued wording.company-reportedSource ↗
  • insurer: The reviewed WTW sources do not identify an issuing insurer for a specific crime placement. This is a gap in the cited marketing, annual-report, and brokerage materials; it does not mean WTW lacks insurer markets. Confirm the carrier on the quote and issued policy.not-disclosedSource ↗Source ↗
  • limits: The reviewed sources do not state a buyer-specific crime limit, retention, or deductible. No limit or deductible is inferred from general marketing or WTW's brokerage role; the insurer's quote and issued forms control.not-disclosedSource ↗Source ↗

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

Claims advocacy and historical crime reference

Lockton says its Professional & Executive Risk Claims team handles crime and fidelity claims as part of the broking team; the description concerns advocacy, not the insurer’s duty to pay. WTW’s FY2024 listing is group-level history and does not establish current U.S. availability. If WTW confirms a current placement, ask for the insurer’s claims contact. A buyer should distinguish broker assistance from claim decisions by the carrier, and ask WTW whether it currently arranges the line and what claims contact the insurer provides. [3] [7]

Covered loss examples

Lockton lists employee theft, forgery, on- or off-premises theft, computer fraud, counterfeit currency, and social engineering among the loss types its crime program addresses. The annual-report entry is historical service evidence, not a specimen policy form. Ask Lockton which of these appear in the proposed form and request WTW’s current insurer and specimen wording before comparing scope. [3] [7]

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

  • Who on Lockton’s claims team will advocate on a crime loss, and which insurer agreements and exclusions govern payment? [3]
  • Does WTW currently place U.S. crime, and if so, what insurer claims contact and policy wording will be provided? [7]

Lockton says its Professional & Executive Risk Claims team handles Crime and Fidelity claims as part of the broking team. WTW’s FY2024 crime entry is historical global practice evidence and does not establish current U.S. placement availability.

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
    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

  5. 05
    Crime Non-Financial Applications and Forms

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

  6. 06
    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

  7. 07
    WTW 2024 Form 10-K

    U.S. Securities and Exchange Commission / Willis Towers Watson Public Limited Company · Part I, Item 1, FINEX and Surety business descriptions: the 2024 annual report identifies management and professional liability, employment practices, crime, cyber and M&A insurance solutions, and a global bond-placement team; indexed passages rechecked 2026-09-29. · accessed 2026-09-29

  8. 08
    Corporate Risk & Broking Brokerage Terms, Conditions & Disclosures (Canada & US)

    WTW · Document dated 2025-06-01; pp. 4–6: broker/intermediary role, quote versus binding process, review of binders/policies/endorsements, claims reporting and affiliate disclosures. Reused from the current WTW provider source record after direct PDF retrieval was blocked. · accessed 2026-09-28

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