Beazley vs Lockton: How Do They Compare for Crime Insurance?

Lockton places crime and fidelity as a brokered program, with a dedicated claims team inside its broking team; Beazley underwrites commercial crime up to an advertised $25 million, with underwriters and claims staff working side by side.

Beazley writes the crime policy itself, with limits up to $25 million and wire-fraud cover that requires out-of-band payment verification; Lockton is a broker that shops your crime and fidelity cover and puts its own claims counsel on your side if you have a loss. ^1,²

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

Insurer Claims Staff vs Broker Claims Advocates

Beazley underwrites its Commercial Crime policy and says its underwriting and claims staff work side by side, so the policy's original intent is respected at claim time. Lockton doesn't issue policies; it places crime and fidelity cover with insurers it doesn't name, and its Professional & Executive Risk Claims team, with claims counsel inside the broking team, advocates for you with that insurer. Choose Beazley if you need limits up to $25 million and want to deal directly with the insurer that pays the claim; choose Lockton if you want a broker to compare insurers and argue your claim for you. ¹ ²

Commercial Companies vs Financial Institutions

Beazley's Commercial Crime is for ordinary commercial companies; banks and other financial institutions go to its separate Financial Fidelity Bonds. Lockton notes that financial institutions are often required to carry a financial institution bond, and flags small businesses as especially exposed because they often lack fraud-prevention and audit resources. If you're a financial institution, neither firm's commercial crime product is the right starting point. ¹ ²

Wire Fraud Conditions and Covered Losses

Both address employee theft, forgery, computer fraud, counterfeit currency and social-engineering fraud. Beazley adds client-property loss and in-transit loss, and conditions its fraudulent-instruction cover on out-of-band verification of payment instructions; it says insureds with documented controls can remove that condition for an extra premium. Lockton's page lists claim types, not policy conditions, so you'll see any verification requirement only in the insurer's quote. ¹ ²

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

If you're a financial institution, ask whether you need a financial institution bond or Beazley's Financial Fidelity Bonds rather than commercial crime. ² ¹
Ask Lockton which insurer and limit it proposes; its page names neither. ²
Ask Beazley for your quoted limit and retention, since $25 million is the advertised maximum and retentions aren't published. ¹
Check whether your payment process meets the out-of-band verification condition on social-engineering cover. ¹

Beazley vs Lockton Crime Insurance Compared

Beazley vs Lockton: Crime Insurance: documented features by provider

Criteria	Beazley Commercial Crime	Lockton Crime and Fidelity Insurance Brokerage
Who It’s For	Beazley markets Commercial Crime to ordinary commercial companies, not to banks or other financial institutions, which it addresses separately through Financial Fidelity Bonds. ¹Company-reported. Product page target-customer language; no industry list or size threshold is published.	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. ²Company-reported. Crime and Fidelity product page as read 2026-09-23.
Coverage Features	Beazley says Commercial Crime protects an organization from loss of money and securities caused by theft by its own employees, 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 expense coverage. ¹Company-reported. Product-page description of insuring agreements; exclusions, conditions and available sub-limits appear only in the issued policy. Beazley says its Commercial Crime policy includes a fraudulent-instruction (social-engineering) insuring agreement covering losses from wire transfers made on instructions from someone posing as a vendor, client or authorized employee, and that this cover is conditioned on out-of-band authentication of payment instructions. ¹Company-reported. Product-page description; Beazley says the out-of-band-authentication condition can be removed for insureds with documented controls and response plans, subject to an additional premium.	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. ²Company-reported. Product page as read 2026-09-23; a capability/claim-type list, not a specimen policy.
Role in This Line	Beazley underwrites Commercial Crime insurance for commercial companies. The same product page separately describes Financial Fidelity Bonds, a related but distinct product line for financial institutions. ¹Company-reported. Crime and Fidelity product page; distinguishes the commercial-company product from the financial-institution fidelity bond described on the same page.	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. ²Company-reported. Crime and Fidelity product page as read 2026-09-23.

Criteria

Beazley Commercial Crime

Lockton Crime and Fidelity Insurance Brokerage

Who It’s For

Beazley markets Commercial Crime to ordinary commercial companies, not to banks or other financial institutions, which it addresses separately through Financial Fidelity Bonds. ¹Company-reported. Product page target-customer language; no industry list or size threshold is published.

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. ²Company-reported. Crime and Fidelity product page as read 2026-09-23.

Coverage Features

Beazley says Commercial Crime protects an organization from loss of money and securities caused by theft by its own employees, 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 expense coverage. ¹Company-reported. Product-page description of insuring agreements; exclusions, conditions and available sub-limits appear only in the issued policy.

Beazley says its Commercial Crime policy includes a fraudulent-instruction (social-engineering) insuring agreement covering losses from wire transfers made on instructions from someone posing as a vendor, client or authorized employee, and that this cover is conditioned on out-of-band authentication of payment instructions. ¹Company-reported. Product-page description; Beazley says the out-of-band-authentication condition can be removed for insureds with documented controls and response plans, subject to an additional premium.

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. ²Company-reported. Product page as read 2026-09-23; a capability/claim-type list, not a specimen policy.

Role in This Line

Beazley underwrites Commercial Crime insurance for commercial companies. The same product page separately describes Financial Fidelity Bonds, a related but distinct product line for financial institutions. ¹Company-reported. Crime and Fidelity product page; distinguishes the commercial-company product from the financial-institution fidelity bond described on the same page.

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. ²Company-reported. Crime and Fidelity product page as read 2026-09-23.