What Are the Key Differences Between Gallagher and Marsh Fidelity Bonds?
Plan-Bond Limit Advice or Crime-Coverage Bundle
Gallagher helps plan sponsors set fidelity limits using ERISA requirements, peer data and claims-trigger review. Marsh handles employee fidelity within commercial-crime coverage and its MMA practice lists commercial crime/fidelity together. Choose Gallagher if you need help setting a plan bond's limit; choose Marsh if you want fidelity bundled with a broader crime placement. [1] [2] [3]
Limit-Setting Versus Loss Description
Gallagher ties fidelity bond limit-setting to a client’s required bond limits under ERISA, and says its method includes peer analysis using third-party databases and an exposure index developed by the Surety Association of America with the American Institute of Accountants. Marsh describes trusted employees exploiting systems for personal gain and says those fidelity losses are about half of crime-policy notifications in its data. Marsh’s reviewed pages do not publish a limit-setting method. [1] [2]
How You Reach Each Practice
Gallagher’s reviewed executive-and-financial-risk page does not describe an application or bind path for this line. Marsh’s reviewed pages send you to a Marsh or MMA crime and fidelity specialist, because fidelity is placed together with commercial crime. Neither names the issuing insurer. [1] [2] [3]
What Should You Confirm in Gallagher and Marsh Fidelity Bonds Quotes?
- Ask Gallagher for the recommended limit from its ERISA-linked method and whether crime cover is placed alongside the bond. [1]
- Ask Marsh whether the quote is commercial crime, a fidelity placement, or both. [2] [3]
- Confirm who needs to be bonded and what limit Gallagher’s ERISA methodology produces; Marsh’s pages do not publish that sizing. [1] [2]
- Get the carrier and retention from both quotes. [1] [2]