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Connecticut crime insurance guide

Connecticut’s money-transmitter law requires a surety bond tied to the licensee’s money-transmission obligations, with minimum amounts based on average weekly volume for businesses that do not transmit virtual currency. That statutory bond is a customer-claim security requirement, not a general first-party crime policy. A transmitter should review employee and delegate theft, customer-fund handling, and electronic payment fraud separately with its broker. 1,2

What Is Crime?

Crime insurance can help reimburse specified business losses from theft and fraud, including employee theft and forgery. Compare those protections separately and ask whether a payment sent after an impersonation scam is covered. Read the national Crime guide.

Connecticut Requirements

RequirementDetails
Licensed money transmitter bondAs a condition of obtaining and retaining a Connecticut money-transmission license, a licensee must file an approved surety bond. For licensees not transmitting virtual currency, the statutory minimum is $300,000 when average weekly transmission volume is below $300,000, $500,000 from $300,000 through $500,000, and $1 million above $500,000. The commissioner sets the amount for virtual-currency transmission based on market volatility. 1
Supervision of employees and delegatesConnecticut prohibits covered licensees from failing to maintain policies and procedures reasonably designed to supervise employees, agents, and office operations for compliance with money-transmission laws. The statute also prohibits failing to truthfully account for money belonging to a transmission party. 2

What to Watch for in Connecticut

  • Separate the statutory bond from crime insurance

    The bond backs the licensee’s money-transmission obligations and allows damaged parties to proceed against the bond. Its required presence does not establish coverage for every employee theft, social-engineering payment, or other internal loss under a business’s own crime policy. 1

  • Confirm the volume tier and virtual-currency status

    The non-virtual-currency bond minimum depends on average weekly transmissions measured over the most recent 12-month period ending June 30. A business transmitting virtual currency is subject to an amount set by the commissioner; the non-virtual tiers should not be applied to it. 1

  • Review who can claim and whose conduct is covered

    The statute extends the bond condition to obligations of the licensee’s authorized delegates and allows a person damaged by failure to perform those obligations to proceed against the bond. Ask the broker to map the crime policy’s employee, agent, customer-property, and payment-fraud terms to your own operations; the law does not establish that those losses are insured. 1

Who Regulates Insurance in Connecticut

Connecticut Insurance Department

The Connecticut Insurance Department licenses insurance producers and companies, oversees insurers and regulated insurance activity, and investigates insurance complaints. Its complaint and license-search services let you raise an issue or check an insurance professional or company. 3,4,5

Surplus-lines tax and stamping office

Reported tax rate: 4% of gross premium when Connecticut is the home state When Connecticut is the insured’s home state, surplus-lines tax is 4% of gross premium; certain state and local government insureds are exempt, and broker or policy fees are not part of the premium-tax base. Connecticut’s required notice says these policies are outside the state guaranty association. Most placements require three declinations or an export-list qualification; an exempt commercial purchaser may qualify for the federal § 8205 search exception after disclosure and a written request. 6,7,8

Providers With Documented State Licenses

These providers publish a national listing for Crime; the state records document licenses for the entities and roles shown below. Some records rely on company-reported information rather than independent regulator verification. A national listing does not confirm the product is available in Connecticut. Check the regulator’s license lookup and confirm state availability for your business when requesting a quote.

  • CoalitionCoalition Insurance Solutions, Inc.Insurance producer, Surplus-lines broker · checked 2026-09-28Coalition’s license page lists producer and surplus-lines licenses for Coalition Insurance Solutions, Inc. in all 50 states and the District of Columbia. The page separately lists insurers; this record covers the brokerage entity only. 10
  • CorgiCorgi Insurance Services, Inc.Insurance producer · checked 2026-09-28Corgi’s company producer-license table lists 50 jurisdictions: 49 states and the District of Columbia, including DC license 3003091619. New Mexico does not appear in the table and is not included here; the omission does not establish that Corgi is unlicensed there. The company-reported table has no stated as-of date and does not establish product availability. 11
  • VouchVouch Specialty Insurance Services, LLCInsurance producer, Surplus-lines broker · checked 2026-09-28Vouch’s licenses page, effective January 16, 2025, lists producer licenses in all 50 states and DC. Its separate surplus-lines table includes Idaho number 870820, while a footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses. Because those statements conflict for Idaho, this record keeps Idaho producer-only and does not treat the table number as established agency surplus-lines authority. The page is company-reported and does not establish product availability. 15

Questions to Ask Before You Buy in Connecticut

  1. Are our Connecticut activities money transmission that require a license, and do any exemptions or delegate arrangements change who holds the obligation?
  2. What average weekly transmission volume and virtual-currency activity did we report when the bond amount was set?
  3. Does our crime policy address dishonest acts by employees and authorized delegates who handle customer funds, and what conditions or exclusions apply?
  4. How are payment instructions independently verified, and what records would show when a loss was discovered and reported?

Crime in Connecticut: FAQ

Does the Connecticut money-transmitter bond replace a crime policy? 1

The bond is conditioned on performance of the licensee’s money-transmission obligations and supports claims by people damaged when those obligations are not performed. It is not described as general first-party crime insurance for a business’s own losses. 1

What bond amount applies to a Connecticut virtual-currency transmitter? 1

The commissioner determines the principal sum for a licensee that will or may transmit virtual currency, using a calculation that reasonably addresses current and prospective market volatility. The fixed $300,000, $500,000, and $1 million thresholds apply to applicants and licensees not engaged in virtual-currency transmission. 1

Crime in Other States

Other Coverage in Connecticut

Sources

  1. Connecticut General Statutes, 2026 Supplement, Chapter 668, § 36a-602. Connecticut General Assembly; Subsections (a)–(b), surety bond condition, volume thresholds, virtual-currency amount, and claimant rights. The 2026 supplement is revised through January 1, 2026; § 36a-602 reflects P.A. 13-253 and later amendments. Accessed 2026-09-28.
  2. Connecticut General Statutes, 2026 Supplement, Chapter 668, § 36a-607. Connecticut General Assembly; Subsection (c)(1), (3), (7), and (10), prohibitions on fraud, obtaining property by fraud, failure to account for party funds, and failure to supervise employees and agents; current text checked in the 2026 supplement. Subsection (a) also assigns trust handling and contractual supervision duties to authorized delegates. Accessed 2026-09-28.
  3. Connecticut Insurance Department. Connecticut Insurance Department; Official Department homepage; mission and department resources. Accessed 2026-09-28.
  4. Licensing. Connecticut Insurance Department; Department licensing resource landing page; links to state agent and company license lookup. Accessed 2026-09-28.
  5. Ask a Question or File a Complaint. Connecticut Insurance Department; Online complaint form and consumer affairs helpline. Accessed 2026-09-28.
  6. FAQs: Surplus Lines Brokers. Connecticut Insurance Department; Current tax rate, tax base and exemptions, diligent-search rules, guaranty-fund notice. Accessed 2026-09-28.
  7. FAQs: Surplus Lines Brokers. Connecticut Insurance Department; Question on surplus-lines notice states Connecticut Insurance Guaranty Association does not cover these policies. Accessed 2026-09-28.
  8. 15 U.S.C. § 8205: Streamlined application for commercial purchasers. U.S. House of Representatives, Office of the Law Revision Counsel; Broker's due-diligence search exception for an exempt commercial purchaser requires prior disclosure that admitted-market insurance may offer greater protection/regulatory oversight and the purchaser's subsequent written request for nonadmitted placement. Accessed 2026-09-28.
  9. Licenses. At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21.
  10. Licenses and Carriers. Coalition; Licenses and Carriers, re-read 22 September 2026: Insurance Licenses table for Coalition Insurance Solutions, Inc., national producer number 18419475, with producer and surplus-lines numbers for all 50 states and DC including California 0L76155, Georgia 196479, Texas 2199630 and 2205589, Pennsylvania 815731 and 817452, Colorado 539028 and Wisconsin 3000108852. Insurance Carriers table naming, with NAIC numbers, Allianz Underwriters Insurance Company 36420, Arch Specialty Insurance Company 21199, Ascot Specialty Insurance Company 45055, Ascot Insurance Company 23752, Aspen Specialty Insurance Company 10717, Chaucer Insurance Company DAC, Coalition Insurance Company 29530, Fireman's Fund Indemnity Corporation 11380, Fortegra Specialty Insurance Company 16823, Lloyd's of London, MSIG Specialty Insurance USA Inc. 34886, MS Transverse Specialty Insurance Company 41807, Steadfast Insurance Company 26387, Vantage Risk Specialty Insurance Company 16275 and Zurich American Insurance Company 16535. Accessed 2026-09-22.
  11. Insurance Producer Licenses. Corgi Insurance; Current complete Insurance Producer Licenses table for Corgi Insurance Services, Inc.; 50 rows covering 49 states and DC (DC 3003091619); no New Mexico row; no NPN or as-of date shown. Accessed 2026-09-28.
  12. About Hiscox US Insurance. Hiscox; Hiscox Insurance Company Inc. NAIC 10200 as Chicago, IL domiciled insurer admitted or licensed in all 50 states and D.C.; Hiscox Inc. as general agent and Lloyd’s coverholder for Syndicates 33 and 3624; surplus-lines placements through licensed surplus-lines brokers; A.M. Best rating statement. Accessed 2026-09-16.
  13. Licenses. ERGO NEXT Insurance; Current entity-by-state license table reopened 28 September 2026: 50 rows under Next First Insurance Agency, Inc., including Washington, DC; New York rows instead list Next Insurance Services PC-1423070 and AP Intego BR-1198885. Accessed 2026-09-28.
  14. Insurance Licenses by State. TechInsurance; Current state table; identifies TechInsurance as a division of Specialty Program Group LLC d/b/a SPG Insurance Solutions; lists DC 3000041536 and labels Rhode Island “Individual licenses,” without an agency license number. Accessed 2026-09-28.
  15. Licenses. Vouch; Effective 16 January 2025: Vouch Specialty Insurance Services, LLC, NPN 19926463; P&C table (50 states and DC); surplus-lines table includes Idaho 870820; footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses; Idaho retained as producer-only due to conflict. Accessed 2026-09-15.

Updated .

This guide is informational and does not determine whether a policy is available or meets your needs. Editorial policy. To suggest a correction, contact Spot with a supporting source.

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