CFC vs 
Cowbell: How Do They Compare for Crime Insurance?
Reached only through appointed Zurich wholesalers, Cowbell's crime module targets private companies with under 250 employees and under $50 million in assets; CFC includes crime in its US Management Liability package, which declines California-domiciled business.
CFC excludes California-domiciled and U.S. public companies from its package; Cowbell offers a Zurich crime module to private businesses below 250 employees and $50 million in assets through appointed wholesalers. 1,2,6,7
What Are the Key Differences Between CFC and Cowbell Crime Insurance?
Package Eligibility and Buyer Access
CFC includes crime in its US Management Liability package and declines California-domiciled businesses and U.S. public companies. Cowbell offers Zurich’s Select Plus crime module to private companies with fewer than 250 employees and less than $50 million in assets, but only through appointed wholesale brokers. Choose CFC if you meet its company eligibility and want crime in a management-liability package; choose Cowbell if your private company fits those size caps and can access an appointed wholesaler. 1 6
Paper, Access and Coverage Wording
Cowbell and Zurich both say Select Plus modules, including crime, are written on Zurich admitted paper. CFC’s regulatory page discloses FCA authorization and Lloyd’s Syndicate 1988 but does not name the issuer for a given US crime policy. The Cowbell crime module is accessed only by appointed Zurich E&S wholesalers through Cowbell’s API, not sold direct to businesses. CFC also sells crime inside a fintech package whose wording the reviewed pages do not equate with the management package. 6 7 4 3
What the Cover Descriptions Say
Cowbell describes crime as protecting against theft, fraud and embezzlement by employees or third parties. CFC’s brochure lists employee theft, funds-transfer fraud, credit-card and currency fraud, client crime, and on- or off-premises theft. Neither CFC’s brochure nor the Cowbell or Zurich Select Plus pages publish crime limits or retentions. 6 1 7
What Should You Confirm in CFC and Cowbell Crime Insurance Quotes?
- Confirm you are a private company under Cowbell’s 250-employee and $50 million-asset band if the quote is Select Plus. 6
- Ask CFC whether California domicile or public-company status is a decline, and whether crime is the management or fintech package. 1 3
- Ask which Zurich entity issues the Select Plus crime module; the pages name admitted paper without identifying the specific issuer. 7
- Get crime limits and retentions from both quotes; neither reviewed set publishes them. 1 6
CFC vs Cowbell Crime Insurance Compared
CFC vs Cowbell: Crime Insurance: documented features by provider
| Criteria | CFC Crime | Cowbell / Zurich Select Plus Crime Coverage |
|---|---|---|
| Who It’s For | CFC's brochure lists California-domiciled business and US publicly traded companies among the risks it declines for the package that carries this crime coverage. 1Company-reported. Brochure's 'What we decline' list; underwriting still applies to any individual business. | Cowbell targets this crime module at private companies with under 250 employees and under $50M in assets, across the same target industries listed for the broader Select Plus product. 6Company-reported. FAQ 'What size accounts are targeted?' and Target industries list. |
| Coverage Features | CFC's brochure describes company crime cover including employee theft, funds transfer fraud, and credit card and currency fraud. 1Company-reported. Brochure's 'Crime cover' description; the issued policy wording determines the actual insuring agreements and any sub-limits. The brochure also lists client crime, meaning fraud by clients or their staff, and on-premises and off-premises theft, as part of the crime section. 1Company-reported. Brochure's 'Crime cover' description. CFC separately sells crime coverage for employee infidelity and third-party fraud within its fintech package. The reviewed pages do not state whether that fintech crime coverage is the same crime coverage sold inside the management-liability package. 3,1Company-reported. Fintech product page compared against the management-liability brochure; both accessed 2026-09-23. This does not establish overlap or difference in wording between the two products. | Cowbell describes crime coverage as protecting against losses resulting from criminal acts such as theft, fraud, and embezzlement committed by employees or third parties. 6Company-reported. FAQ 'What is the difference between management liability and D&O?'. |
| Role in This Line | CFC includes crime coverage inside its US Management Liability package. The reviewed management-liability materials do not offer it as a standalone product within that package. 1,2Company-reported. Management-liability product page and brochure; package composition as CFC describes it. | Crime coverage is one module within Cowbell's distribution of Zurich's Select Plus management liability product; Cowbell operates the platform, Zurich underwrites the module. Zurich's own page lists 'Crime Insurance' as one of the four modules a buyer can combine. 6,7Company-reported. Management liability page intro and module list; Zurich page module-name section. |
