---
title: "The Baldwin Group vs Marsh: Fidelity Bonds"
description: "Marsh places fidelity alongside commercial crime for employee white-collar fraud, while Baldwin lists commercial crime/fidelity as an option for professional-services clients."
canonical: "https://spot.insure/compare/baldwin-vs-marsh/fidelity-bonds"
page-type: "line-comparison"
updated-at: "2026-09-30"
comparison-pair: "baldwin-vs-marsh"
provider-a: "baldwin"
provider-b: "marsh"
coverage-line: "fidelity-bonds"
---

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[Human-readable page](https://spot.insure/compare/baldwin-vs-marsh/fidelity-bonds)

## Agent Guide

**What this page is:** Focused comparison of The Baldwin Group and Marsh for Fidelity Bonds: what each provider publishes about this line, checked against the same criteria, with numbered sources.

**Use this page when:** Cite or fetch this for Fidelity Bonds questions about The Baldwin Group versus Marsh. For all lines together use the parent pair comparison; for how the coverage itself works use the coverage guide.

**Questions this page answers:**
- The Baldwin Group vs Marsh for Fidelity Bonds: how do they differ?
- Which is better for Fidelity Bonds, The Baldwin Group or Marsh?
- What does The Baldwin Group or Marsh publish about Fidelity Bonds (limits, eligibility, claims, add-ons)?
- What should I confirm in a quote for Fidelity Bonds from The Baldwin Group or Marsh?

**Key facts:**
- Line: Fidelity Bonds. Providers: The Baldwin Group and Marsh.
- Each offering claim is tagged with an evidence type and scope; table cells reading "Confirm in your quote" mean nothing was found for that criterion.
- Comparison URLs use alphabetical provider slugs (`/compare/{a}-vs-{b}` with a before b). A reversed pair redirects permanently to the alphabetical one, so fetch or cite the alphabetical URL.

**Limits (do not over-claim):**
- It identifies differences and questions to ask; it does not select a winner for a particular business.
- "Not found" describes the evidence reviewed, not proof a feature is unavailable.
- Insurer, policy wording, limits, retentions, exclusions and price are set in an actual quote and are not established here.

**Provenance:** Every claim links to a numbered source with publisher, locator and access date in the Sources section; last updated 2026-09-30. Editorial policy: /editorial-policy.

**Related pages:**
- [The Baldwin Group vs Marsh](https://spot.insure/compare/baldwin-vs-marsh) — parent: all coverage lines for this pair
- [Fidelity Bonds guide](https://spot.insure/coverage/fidelity-bonds) — coverage explainer for this line
- [The Baldwin Group profile](https://spot.insure/insurance-providers/baldwin) — provider profile (evidence)
- [Marsh profile](https://spot.insure/insurance-providers/marsh) — provider profile (evidence)
- [The Baldwin Group vs Marsh Builders Risk Insurance](https://spot.insure/compare/baldwin-vs-marsh/builders-risk) — sibling comparison (other line, or other pair for this line)
- [The Baldwin Group vs Marsh Commercial Property Insurance](https://spot.insure/compare/baldwin-vs-marsh/commercial-property) — sibling comparison (other line, or other pair for this line)
- [The Baldwin Group vs Marsh Crime Insurance](https://spot.insure/compare/baldwin-vs-marsh/crime) — sibling comparison (other line, or other pair for this line)
- [The Baldwin Group vs Marsh Cyber Insurance](https://spot.insure/compare/baldwin-vs-marsh/cyber) — sibling comparison (other line, or other pair for this line)
- [The Baldwin Group vs Marsh Employment Practices Liability Insurance](https://spot.insure/compare/baldwin-vs-marsh/employment-practices) — sibling comparison (other line, or other pair for this line)
- [The Baldwin Group vs Marsh Equipment Breakdown Insurance](https://spot.insure/compare/baldwin-vs-marsh/equipment-breakdown) — sibling comparison (other line, or other pair for this line)
- [The Baldwin Group vs Marsh Fiduciary Liability Insurance](https://spot.insure/compare/baldwin-vs-marsh/fiduciary) — sibling comparison (other line, or other pair for this line)
- [The Baldwin Group vs Marsh Surety Bonds](https://spot.insure/compare/baldwin-vs-marsh/surety-bonds) — sibling comparison (other line, or other pair for this line)
- [The Baldwin Group vs Marsh Workers’ Compensation Insurance](https://spot.insure/compare/baldwin-vs-marsh/workers-compensation) — sibling comparison (other line, or other pair for this line)
- [AIG vs The Baldwin Group Fidelity Bonds](https://spot.insure/compare/aig-vs-baldwin/fidelity-bonds) — sibling comparison (other line, or other pair for this line)
- [AIG vs Marsh Fidelity Bonds](https://spot.insure/compare/aig-vs-marsh/fidelity-bonds) — sibling comparison (other line, or other pair for this line)
- [The Baldwin Group vs Beazley Fidelity Bonds](https://spot.insure/compare/baldwin-vs-beazley/fidelity-bonds) — sibling comparison (other line, or other pair for this line)
- [The Baldwin Group vs CNA Fidelity Bonds](https://spot.insure/compare/baldwin-vs-cna/fidelity-bonds) — sibling comparison (other line, or other pair for this line)
- [The Baldwin Group vs Coverdash Fidelity Bonds](https://spot.insure/compare/baldwin-vs-coverdash/fidelity-bonds) — sibling comparison (other line, or other pair for this line)
- [The Baldwin Group vs Founder Shield Fidelity Bonds](https://spot.insure/compare/baldwin-vs-foundershield/fidelity-bonds) — sibling comparison (other line, or other pair for this line)

# The Baldwin Group vs Marsh: How Do They Compare for Fidelity Bonds?

Marsh places fidelity alongside commercial crime for employee white-collar fraud, while Baldwin lists commercial crime/fidelity as an option for professional-services clients.

## Research Scope and Use

Use this comparison to evaluate The Baldwin Group and Marsh for Fidelity Bonds against the same documented criteria. It identifies differences and questions to confirm; it does not select a winner for a particular business. Offering claims are what each provider publishes about this line unless marked otherwise. “Not found” describes the evidence reviewed, not proof that a feature is unavailable. Confirm the insurer, policy wording, limits, retentions, exclusions and cost in an actual quote.

## Summary

Marsh explains fidelity through commercial-crime protection for trusted-employee fraud and uses a specialist placement route; The Baldwin Group lists a bond option but does not describe covered acts or a separate fidelity product. [3](https://baldwin.com/business-insurance/industries/professional-services/ "Professional Liability Insurance & Services") [8](https://www.marsh.com/en/services/financial-professional-liability/expertise/commercial-crime-insurance.html "Commercial crime insurance")

## What Is the Baldwin Group?

Baldwin’s Insurance Advisory Solutions group describes commercial-risk and employee-benefit services for businesses and private-risk management for high-net-worth individuals and families; its business-insurance page outlines a five-step RiskMap process. [1](https://www.sec.gov/Archives/edgar/data/1781755/000178175526000018/bwin-20251231.htm "The Baldwin Insurance Group, Inc. Form 10-K for fiscal year ended December 31, 2025") [2](https://baldwin.com/business-insurance/ "Business Insurance")

[The Baldwin Group profile](https://spot.insure/insurance-providers/baldwin)

## What Is Marsh?

Marsh suits technology and larger businesses seeking specialist cyber placement or broad global risk advice; small firms wanting a quick standard quote should compare its MMA route or digital agencies. [4](https://www.marsh.com/en/home.html "Marsh | Leader in risk, strategy, people, and investments") [5](https://www.marsh.com/content/dam/marsh/Documents/PDF/US-en/us-client-compensation-guide.pdf "Compensation guide for US clients") [6](https://www.marsh.com/en/services/marsh-mclennan-agency.html "Marsh McLennan Agency (MMA)") [7](https://www.marsh.com/en/industries/technology.html "Technology | Insurance Broking & Risk Management")

[Marsh profile](https://spot.insure/insurance-providers/marsh)

## What Are Fidelity Bonds?

Fidelity coverage can reimburse certain losses when employees steal money or property they handle. If employees manage company funds, customer property or benefit-plan assets, identify each owner and compare the required protection for each interest. [10](https://content.naic.org/glossary-insurance-terms "Glossary of Insurance Terms") [11](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf "Field Assistance Bulletin No. 2008-04: Guidance Regarding ERISA Fidelity Bonding Requirements") [12](https://asset.trvstatic.com/download/assets/cri-3001.pdf/98f30f1063c911eeb2f1deb19c93b21f "Crime Terms and Conditions")

## Key Differences in Fidelity Bonds

### Combined crime and fidelity scope

Marsh says it places fidelity together with commercial crime and describes employee white-collar fraud as a risk those policies address. Baldwin lists a commercial crime/fidelity bond option for professional-services clients but does not describe the coverage form. Ask Marsh and Baldwin whether employee dishonesty is addressed by a crime policy, a bond, or both, and compare the covered persons and proof requirements. [8](https://www.marsh.com/en/services/financial-professional-liability/expertise/commercial-crime-insurance.html "Commercial crime insurance") [3](https://baldwin.com/business-insurance/industries/professional-services/ "Professional Liability Insurance & Services")

### Placement path

Marsh directs buyers to a crime and fidelity specialist rather than a separate fidelity application. Baldwin describes market navigation and risk advice for professional services. Buyers should ask both who will place the coverage and whether the quote includes a bond certificate for any client or contractual requirement. [8](https://www.marsh.com/en/services/financial-professional-liability/expertise/commercial-crime-insurance.html "Commercial crime insurance") [3](https://baldwin.com/business-insurance/industries/professional-services/ "Professional Liability Insurance & Services")

## What to Confirm in Fidelity Bonds Quotes

- Does Marsh’s combined crime placement provide the specific fidelity bond your contract requires? What bond form and employee-dishonesty limit would Baldwin secure?

## Offering Details

| Criteria | Baldwin Commercial Fidelity Bond Brokerage and Advisory | Marsh Fidelity Coverage |
| --- | --- | --- |
| Role in This Line | The source describes The Baldwin Group’s brokerage or advisory role for Commercial Fidelity Bond. It does not identify Baldwin as the risk-bearing insurer for a particular placement. [3](https://baldwin.com/business-insurance/industries/professional-services/ "Professional Liability Insurance & Services") (Evidence: Company-reported; scope: The cited company page describes its brokerage/advisory role and does not name the issuer for a buyer-specific placement..) | Marsh does not sell fidelity coverage as a separate product line in the pages reviewed. It bundles fidelity with commercial crime insurance, and MMA lists "commercial crime/fidelity" together as one item in its executive and professional liability practice. [9](https://www.marshmma.com/us/solutions/executive-and-professional-liability.html "Expert Executive and Professional Liability Insurance") [8](https://www.marsh.com/en/services/financial-professional-liability/expertise/commercial-crime-insurance.html "Commercial crime insurance") (Evidence: Company-reported; scope: MMA executive and professional liability page and Marsh's commercial crime page..) |
| Issuing Insurer | Confirm in your quote. | The reviewed pages do not name a specific insurer for fidelity or crime/fidelity coverage. [8](https://www.marsh.com/en/services/financial-professional-liability/expertise/commercial-crime-insurance.html "Commercial crime insurance") [9](https://www.marshmma.com/us/solutions/executive-and-professional-liability.html "Expert Executive and Professional Liability Insurance") (Evidence: Not publicly disclosed; scope: Commercial crime insurance and MMA executive and professional liability pages as read on 2026-09-23..) |
| Who It’s For | Baldwin lists professional-services firms among the commercial sectors for which it can arrange crime/fidelity-bond options. The page does not establish a bond applicant’s eligibility or identify a surety. [3](https://baldwin.com/business-insurance/industries/professional-services/ "Professional Liability Insurance & Services") (Evidence: Company-reported; scope: This is the audience or client context named on Baldwin’s page, not an underwriting decision or guarantee of product availability..) | Confirm in your quote. |
| Coverage Features | Baldwin lists a commercial crime/fidelity bond as an option for professional-services clients. It does not describe a specific bond form, protected obligee, covered employee conduct or bond amount. [3](https://baldwin.com/business-insurance/industries/professional-services/ "Professional Liability Insurance & Services") (Evidence: Company-reported; scope: The statement reports Baldwin’s marketed coverage or advisory description only. No individual quote, binder, policy form, schedule or endorsement was reviewed; policy entitlement and terms remain unknown..) | Marsh describes employee white-collar fraud, meaning fidelity losses caused by trusted employees who exploit systems for personal gain, as one of the risks a commercial crime policy addresses; it says these losses make up about half of the crime-policy notifications in its data. [8](https://www.marsh.com/en/services/financial-professional-liability/expertise/commercial-crime-insurance.html "Commercial crime insurance") (Evidence: Company-reported; scope: Commercial crime insurance page; a fidelity-specific policy form was not identified as a distinct product from crime coverage..) |
| Limits and Retentions | The reviewed source does not state a buyer-specific limit, retention, deductible or coverage schedule. Confirm the quote and issued policy or bond. [3](https://baldwin.com/business-insurance/industries/professional-services/ "Professional Liability Insurance & Services") (Evidence: Not publicly disclosed; scope: No buyer quote, binder, policy or bond form was available in the reviewed public sources..) | Confirm in your quote. |
| Risk Services | Baldwin describes market navigation and tailored risk and insurance advice for accountants, architects, engineers, financial advisers, lawyers, consultants and surveyors. [3](https://baldwin.com/business-insurance/industries/professional-services/ "Professional Liability Insurance & Services") (Evidence: Company-reported; scope: These are company-described brokerage and risk-advisory services; account-specific service commitments and third-party terms are not established..) | Confirm in your quote. |
| How to Apply | Confirm in your quote. | You would engage a Marsh or MMA crime and fidelity specialist directly, since fidelity is placed together with commercial crime rather than through a separate application path in the reviewed pages. [8](https://www.marsh.com/en/services/financial-professional-liability/expertise/commercial-crime-insurance.html "Commercial crime insurance") [9](https://www.marshmma.com/us/solutions/executive-and-professional-liability.html "Expert Executive and Professional Liability Insurance") (Evidence: Company-reported; scope: Commercial crime insurance and MMA executive and professional liability pages..) |

## Full Comparison

- [The Baldwin Group vs Marsh](https://spot.insure/compare/baldwin-vs-marsh): all coverage lines, business roles, service and claims.
- [What Are Fidelity Bonds?](https://spot.insure/coverage/fidelity-bonds): Fidelity coverage can reimburse certain losses from employee theft; identify whether you need protection for company funds, client property or benefit-plan assets.
- [The Baldwin Group vs Marsh Builders Risk Insurance](https://spot.insure/compare/baldwin-vs-marsh/builders-risk)
- [The Baldwin Group vs Marsh Commercial Property Insurance](https://spot.insure/compare/baldwin-vs-marsh/commercial-property)
- [The Baldwin Group vs Marsh Crime Insurance](https://spot.insure/compare/baldwin-vs-marsh/crime)
- [The Baldwin Group vs Marsh Cyber Insurance](https://spot.insure/compare/baldwin-vs-marsh/cyber)
- [The Baldwin Group vs Marsh Employment Practices Liability Insurance](https://spot.insure/compare/baldwin-vs-marsh/employment-practices)
- [The Baldwin Group vs Marsh Equipment Breakdown Insurance](https://spot.insure/compare/baldwin-vs-marsh/equipment-breakdown)
- [The Baldwin Group vs Marsh Fiduciary Liability Insurance](https://spot.insure/compare/baldwin-vs-marsh/fiduciary)
- [The Baldwin Group vs Marsh Surety Bonds](https://spot.insure/compare/baldwin-vs-marsh/surety-bonds)
- [The Baldwin Group vs Marsh Workers’ Compensation Insurance](https://spot.insure/compare/baldwin-vs-marsh/workers-compensation)
- [AIG vs The Baldwin Group Fidelity Bonds](https://spot.insure/compare/aig-vs-baldwin/fidelity-bonds)
- [AIG vs Marsh Fidelity Bonds](https://spot.insure/compare/aig-vs-marsh/fidelity-bonds)
- [The Baldwin Group vs Beazley Fidelity Bonds](https://spot.insure/compare/baldwin-vs-beazley/fidelity-bonds)
- [The Baldwin Group vs CNA Fidelity Bonds](https://spot.insure/compare/baldwin-vs-cna/fidelity-bonds)
- [The Baldwin Group vs Coverdash Fidelity Bonds](https://spot.insure/compare/baldwin-vs-coverdash/fidelity-bonds)
- [The Baldwin Group vs Founder Shield Fidelity Bonds](https://spot.insure/compare/baldwin-vs-foundershield/fidelity-bonds)

## Sources

### The Baldwin Group

1. [The Baldwin Insurance Group, Inc. Form 10-K for fiscal year ended December 31, 2025](https://www.sec.gov/Archives/edgar/data/1781755/000178175526000018/bwin-20251231.htm). U.S. Securities and Exchange Commission; filed by The Baldwin Insurance Group, Inc.; Part I, Item 1, “The Company,” lines 194–196; “Operating Groups,” lines 260–263; “Clients and Insurers,” lines 286–288; pp. 6–10; opened 2026-09-28.. Accessed 2026-09-28.
2. [Business Insurance](https://baldwin.com/business-insurance/). The Baldwin Group; RiskMap process, lines 40–68; Connect With Us consultation invitation, lines 182–187; accessed 2026-09-28.. Accessed 2026-09-28.
3. [Professional Liability Insurance & Services](https://baldwin.com/business-insurance/industries/professional-services/). The Baldwin Group; Professional-services customer population lines 35–64; coverage snapshot lines 68–84 lists property, general/professional liability, cyber, workers’ compensation, D&O, fiduciary, crime/fidelity bond, EPL, and IP liability; Employee benefits lines 93–95; accessed 2026-09-29.. Accessed 2026-09-30.

### Marsh

4. [Marsh | Leader in risk, strategy, people, and investments](https://www.marsh.com/en/home.html). Marsh; Hero and capability tiles; FAQ: What does Marsh do?; industries served; Is Marsh the same as Marsh McLennan? January 2026 brand change. Accessed 2026-09-16.
5. [Compensation guide for US clients](https://www.marsh.com/content/dam/marsh/Documents/PDF/US-en/us-client-compensation-guide.pdf). Marsh; US broking segments; broker role; retail commissions, client fees, wholesale, insurer consulting, contingent and supplemental commissions; Marsh LLC and Marsh USA LLC; page 3: broker role and Marsh & McLennan Agency segment; page 7: copyright © 2024 Marsh LLC. Accessed 2026-09-16.
6. [Marsh McLennan Agency (MMA)](https://www.marsh.com/en/services/marsh-mclennan-agency.html). Marsh; Middle-market US organizations; wholly-owned subsidiary; business insurance, employee health and benefits, retirement, private client. Accessed 2026-09-16.
7. [Technology | Insurance Broking & Risk Management](https://www.marsh.com/en/industries/technology.html). Marsh; Opening Technology Practice description; practice links including data center insurance, fintech and Stratus; Talk to us. Accessed 2026-09-16.
8. [Commercial crime insurance](https://www.marsh.com/en/services/financial-professional-liability/expertise/commercial-crime-insurance.html). Marsh; Employee white-collar fraud: Marsh data shows around 50% of crime policy notifications are for employee fidelity losses, involving trusted employees who exploit systems for personal gain. Accessed 2026-09-23.
9. [Expert Executive and Professional Liability Insurance](https://www.marshmma.com/us/solutions/executive-and-professional-liability.html). Marsh McLennan Agency; Our policies include D&O, E&O, EPL, commercial crime/fidelity, network security privacy risk/cyber, fiduciary, media liability, IP, architects and engineers, lawyers professional, and kidnap and ransom. Accessed 2026-09-23.

### Fidelity Bonds Guide

10. [Glossary of Insurance Terms](https://content.naic.org/glossary-insurance-terms). National Association of Insurance Commissioners; Fidelity; Surety Bond. Accessed 2026-09-16.
11. [Field Assistance Bulletin No. 2008-04: Guidance Regarding ERISA Fidelity Bonding Requirements](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf). U.S. Department of Labor, Employee Benefits Security Administration; Q1–Q3 pp.2–3; Q2 pp.2–3. Accessed 2026-09-16.
12. [Crime Terms and Conditions](https://asset.trvstatic.com/download/assets/cri-3001.pdf/98f30f1063c911eeb2f1deb19c93b21f). Travelers Casualty and Surety Company of America; I.A.1–3 p.1; III.S pp.8–9; V.B.1–2 pp.18–20; CRI consideration p.1; III.P p.8; V.A.3 pp.16–17; V.A.4 p.17; V.B.3 p.20; IV.L p.15. Accessed 2026-09-16.

Updated 2026-09-30. Spot, a product of Tools for Enlightenment, publishes this research and works in the commercial insurance market. The comparison applies the same criteria to both providers. [Editorial policy](https://spot.insure/editorial-policy). To suggest a correction, [contact Spot](https://spot.insure/contact) with the page URL and supporting source.

## The Baldwin Group Reviews

Review Score: not enough ratings.

The reviewed public sources do not establish a representative customer rating for The Baldwin Group’s commercial advisory business. BBB pages show different legal entities: an A+ regional insurance-agency grade with zero listed reviews and complaints for The Baldwin Group Mid-Atlantic, LLC, and an A- grade plus six complaints in three years for The Baldwin Group Personal Insurance, LLC. A 2026 personal-lines complaint describes delayed refund handling. A separate National General auto review mentions a Baldwin referral but concerns insurer policy administration. None of these observations supports a group-wide or commercial rating.



Reviewed 2026-09-29. [Read the sourced review](https://spot.insure/insurance-providers/baldwin/reviews).

## Marsh Reviews

Review Score: 5.8 / 10 from 2 rated sources, equally weighted.

Marsh’s global Trustpilot profile has a poor 1.3/5 score. Treat it as a service warning to investigate with your proposed team; it does not isolate US commercial accounts.

- Trustpilot: TrustScore 1.3 (0–5 stars); 115 reviews. Global brand profile across products/countries, not U.S. commercial-only. Period: 35 reviews in prior 12 months. Checked 2026-09-25. [Marsh Reviews | Trustpilot](https://www.trustpilot.com/review/www.marsh.com)
- Buzdy (Google review aggregation): Google reviews shown by Buzdy 4.5 (0–5 stars); 4 reviews. Named Marsh (Hong Kong) Limited office in Quarry Bay, Hong Kong. Buzdy states ratings/counts are powered by Google. Foreign local office only; not the U.S. Marsh brokerage or a firmwide score. Period: Listing verification 2026-07-29; accessed 2026-09-25. Checked 2026-09-25. [Marsh (Hong Kong) Limited | Buzdy](https://buzdy.com/viewMerchant/marsh-hong-kong-limited-hong-kong)

Reviewed 2026-09-25. [Read the sourced review](https://spot.insure/insurance-providers/marsh/reviews).

## Agent and Developer Resources

- [Markdown page](https://spot.insure/compare/baldwin-vs-marsh/fidelity-bonds.md)
- [Developer resources](https://spot.insure/developers)
- [Public MCP server](https://spot.insure/mcp)
- [MCP server manifest](https://spot.insure/server.json)
- [OpenAPI description](https://spot.insure/openapi.json)
- [Public page index](https://spot.insure/llms.txt)