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

Lockton places crime and fidelity as a brokered program for nonprofit, private and public organizations, with a claims team inside its broking team; Cowbell's Zurich-underwritten crime module targets companies under 250 employees and $50M in assets via appointed wholesalers.

Cowbell fits smaller private companies under 250 employees and $50 million in assets that can access a wholesaler; Lockton serves private, public and nonprofit buyers with a dedicated crime claims team. ^1,^2,³

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

If you are a financial institution, Lockton says you may need a financial institution bond instead of general crime insurance. Lockton also names a claims team for crime losses, while Cowbell’s reviewed pages do not describe line-specific claims support. ³ ¹

Distribution Platform Versus Crime and Fidelity Brokerage

Cowbell distributes Zurich’s Select Plus crime module; Zurich underwrites it on admitted paper and Cowbell operates the platform. Lockton places Crime and Fidelity to address theft, fraud, forgery and embezzlement by employees or third parties and describes that as a brokered program, not a Lockton-issued policy. ¹ ² ³

Claims Advocacy and Product Split

Lockton says its Professional & Executive Risk Claims team, which keeps insurance and claims counsel inside the broking team rather than as a separate profit center, handles Crime and Fidelity claims. Cowbell’s reviewed pages describe Select Plus claims backing only at the whole-product level and do not describe crime-specific risk-control or claims advocacy. Lockton also notes that financial institutions are often required to carry a financial institution bond, distinct from general crime coverage; Cowbell’s module is not described that way. ³ ¹ ²

Appetite and Access

Cowbell targets private companies under 250 employees and under $50 million in assets and sells only through appointed Zurich E&S wholesalers via API. Lockton says crime coverage is relevant to nonprofit, private and public organizations of any sector, calls small businesses particularly exposed because they often lack fraud-prevention and auditing resources, and does not name the insurers it uses. Lockton lists employee theft, forgery or alteration, theft on or off premises, computer fraud, counterfeit currency and social-engineering impersonation. ¹ ³

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

Confirm Cowbell access only through an appointed Zurich E&S wholesaler. ¹
Ask Lockton whether you need a financial institution bond or a general crime and fidelity program. ³
Ask how Lockton’s Professional & Executive Risk Claims team would handle a crime claim versus Zurich’s Select Plus claims path. ³ ¹
Check Cowbell’s employee and asset caps if you are quoting that module. ¹

Cowbell vs Lockton Crime Insurance Compared

Cowbell vs Lockton: Crime Insurance: documented features by provider

Criteria	Cowbell / Zurich Select Plus Crime Coverage	Lockton Crime and Fidelity Insurance Brokerage
Who It’s For	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. ¹Company-reported. FAQ 'What size accounts are targeted?' and Target industries list.	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. ³Company-reported. Crime and Fidelity product page as read 2026-09-23.
Coverage Features	Cowbell describes crime coverage as protecting against losses resulting from criminal acts such as theft, fraud, and embezzlement committed by employees or third parties. ¹Company-reported. FAQ 'What is the difference between management liability and D&O?'.	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. ³Company-reported. Product page as read 2026-09-23; a capability/claim-type list, not a specimen policy.
Role in This Line	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. ^1,²Company-reported. Management liability page intro and module list; Zurich page module-name section.	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. ³Company-reported. Crime and Fidelity product page as read 2026-09-23.