Beazley vs Gallagher Fidelity Bonds

Beazley underwrites Financial Fidelity Bonds, which it markets specifically to financial institutions, as a separate line from the Commercial Crime product it sells to ordinary commercial companies on the same page. ⁵Company-reported. Crime and Fidelity product page; "fidelity bonds" is the name the page uses for the financial-institution version of this crime coverage.

Gallagher's Executive and Financial Risk practice places fidelity bond coverage with outside carriers alongside its employee-dishonesty (crime) coverage; it does not underwrite the bond. ⁸Company-reported. Group-level executive-and-financial-risk practice page; fidelity bonds are described jointly with crime coverage, not as a fully separate section.

Not described in the reviewed sources.

The executive-and-financial-risk page does not name the insurer that would issue a given client's fidelity bond. ⁸Not publicly disclosed. Checked the group-level executive-and-financial-risk practice page.

Beazley says its expert team underwrites Financial Fidelity Bonds for financial institutions. The page does not name which types of financial institution (e.g., banks, credit unions, broker-dealers) qualify. ⁵Company-reported. Product-page target-customer statement; no institution-type list or asset-size threshold is published.

Gallagher ties fidelity bond limit-setting to a client's required bond limits under ERISA, indicating this offering is aimed at plan sponsors and fiduciaries needing ERISA fidelity bonding rather than a general commercial audience. ⁸Company-reported. Group-level executive-and-financial-risk practice page.

Beazley describes fidelity bonds as protecting a financial institution from loss of money and securities caused by employee theft, plus third-party-related losses such as forgery or alteration, on-premises and in-transit loss, money-order and counterfeit-currency fraud, computer fraud, client-property loss, credit-card fraud and related expenses. ⁵Company-reported. Product page's general description of crime/fidelity coverage; the page does not itemize a separate insuring-agreement list for fidelity bonds versus Commercial Crime.

The reviewed page attributes its fraudulent-instruction (social-engineering) insuring agreement and out-of-band-authentication condition to "our Commercial Crime policy" specifically. It does not state that Financial Fidelity Bonds include this same insuring agreement. ⁵Not found in reviewed sources. Checked against the full product page text as of 2026-09-23; absence of a fidelity-bond-specific statement is not evidence the coverage is unavailable to financial institutions.

Not described in the reviewed sources.

The product page advertises limits of up to US $25,000,000 for this line without separately breaking out a fidelity-bond-specific maximum from the Commercial Crime figure on the same page. ⁵Company-reported. Shared headline limit figure; retentions and bond-specific sub-limits are not published.

The page does not publish specific fidelity bond limits or premium ranges beyond describing the ERISA-linked methodology used to recommend a limit. ⁸Not publicly disclosed. Checked the group-level executive-and-financial-risk practice page.

Beazley says its underwriting and claims professionals for this product family work side by side so that the original underwriting intent is respected when a claim arises. ⁵Company-reported. Company-stated internal process description applying to the Crime and Fidelity product family generally; no fidelity-bond-specific service is separately described.

Gallagher says its methodology for fidelity bond and crime limits includes peer analysis using third-party databases and an exposure index developed by the Surety Association of America with the American Institute of Accountants. ⁸Company-reported. Group-level executive-and-financial-risk practice page.

Beazley lists dedicated Financial Institution bond application forms in its Tools & Resources: FI Bond Form 14, Form 15, Form 24 and Form 25, separate from the Commercial Crime application forms on the same page. ⁵Company-reported. Tools & Resources section of the product page; the page does not describe an online quote or self-service purchase flow.

Not described in the reviewed sources.

The product page links to Beazley's general claim-notification channel for this line. It does not disclose a claims response-time commitment or a dedicated claims process specific to Financial Fidelity Bonds. ⁵Not publicly disclosed. Product page "Notify a Claim" link as read on 2026-09-23; response times were not found.

Gallagher says it reviews coverage to confirm the carrier allows appropriate treatment of older incidents and does not use claims triggers that are too difficult to prove, a review it applies to the same crime-and-fidelity offering. ⁸Company-reported. Group-level executive-and-financial-risk practice page; a stated review practice, not a guarantee of claim payment.