What Are the Key Differences Between Marsh and Travelers Crime Insurance?
Marsh describes additional social-engineering cover above an existing program and notes ransomware exclusions are common, so compare the policy forms for both scenarios. [7] [3]
Placement Versus Travelers as Writer
Marsh’s financial and professional liability practice places commercial crime, and Marsh McLennan Agency also places crime bundled with fidelity; Marsh’s reviewed pages do not name a specific crime insurer. Travelers underwrites fidelity and crime through multiple insuring agreements sold under Management & Professional Liability. Travelers’ product-page video disclosure names Travelers Casualty and Surety Company of America and property casualty affiliates. [3] [4] [7]
Ransomware Notes Versus an Endorsement
Marsh lists white-collar fraud, third-party fraud, collusion, hacking, social-engineering fraud and tangible-asset theft, notes that crime policies usually exclude ransomware though most cover funds stolen by hackers, and offers infill social-engineering cover in excess of an existing program. Travelers says the coverage addresses loss from forgery or alteration, loss of money and securities, and reimbursement for claim expenses, and lists employee dishonesty, funds-transfer fraud, computer fraud, employee fraud and social-engineering fraud. Travelers offers a social-engineering fraud endorsement and publishes Coverage 101 resources. [3] [7]
Specialist Engagement Versus Independent Agents
You engage Marsh’s crime specialists directly; the reviewed pages describe advisor-led placement rather than an online quote. Marsh says its team has experience handling complex crime placements ranging from about $10 million to $110 million. Travelers fidelity and crime coverage is bought through a Travelers independent agent, and Travelers markets it to nonprofit organizations, private companies and public companies. Travelers’ reviewed page does not publish limits. [3] [7]
What Should You Confirm in Marsh and Travelers Crime Insurance Quotes?
- Ask which Travelers entity would issue the policy versus which carrier Marsh would place. [7] [3]
- Ask Travelers whether the social-engineering fraud endorsement is included; ask Marsh whether infill social-engineering cover is on the quote. [7] [3]
- Confirm whether ransomware is excluded on the Marsh-placed form. [3]
- Ask Marsh whether the quote is Marsh corporate or MMA. [4] [3]