What we offer
Our expert team underwrites Financial Fidelity Bonds for financial institutions and offers Commercial Crime for commercial companies.
Crime insurance (or fidelity bonds, as policies covering financial institutions are known) protects an organization from loss of money and securities, resulting from theft by its own employees.
It also insures against third party related losses for forgery or alteration, on premises, in transit, money orders and counterfeit currency fraud, computer fraud, client property coverage, credit card coverage and expense coverage.
Our Commercial Crime policy includes an insuring agreement for fraudulent instruction coverage to address losses from the transfer of funds as a result of fraudulent instructions from a person purporting to be a vendor, client or authorized employee, otherwise known as social engineering losses. Coverage is provided subject to an out-of-band authentication, which can be removed for insureds with documented controls and response plans, subject to an additional premium
Limits up to US $25,000,000
How can we help
Our depth and expertise will help you understand the risk that you’re placing and the coverage that we’re quoting.
We respond to submissions quickly and we understand the underwriting intent of what we’re selling, as well as the practical application.
Our underwriting and claims professionals work side by side. For our clients, this ensures that when a claim arises, the intent behind the original policy is respected.
Who we can help
- Companies with $250M annual revenues and greater
- A focus on manufacturing, technology, retail, and healthcare
- Financial Institutions with $500M assets and greater
- A focus on commercial banks, asset managers, insurance companies, mutual funds
Where Is This Offered?
US domiciled businesses
The Beazley Difference
Freedom lies in being bold. We dare to be different and seek bold possibilities to create more innovative, fair and satisfying outcomes for our clients, brokers and employees. From insuring the highest building in the world, to the first commercial lunar vehicle to operate on the moon - we boldly go where others won’t.
STRIVING FOR BETTER
Good is a start, but we go all-out for better. A driven community of individuals relentlessly push the needle and creating value. From launching the market’s first dedicated ESG syndicate to the establishment of our business unit focusing on designing digital insurance solutions, we pride ourselves on always going above and beyond. Simply put, at Beazley we go to 11.
DOING THE RIGHT THING
Acting with integrity in a straightforward, decent way is instinctive. Open and honest with others, we show respect and empathy however challenging the situation – demonstrated by our multi-award winning claims team. Doing the right thing makes for a fair-minded, rewarding environment and makes work and life better for all.
Examples or Scenarios
“Computer crime” is not what it used to be. For decades, commercial crime insurance policies were written contemplating the threat of a hacker cracking into a computer network to score an unauthorized transfer of funds - the cyber equivalent of a thief in the night. Today, one of the most prevalent threats is more direct: Thieves can even come right to the “front door,” or masquerade online as a senior executive, vendor or other trusted associate of a company, tricking an employee into handing over company assets.
The descriptions contained in this communication are for preliminary informational purposes only. In the US, the product may be available on an admitted basis in some but not all jurisdictions through Beazley Insurance Company, Inc. In other US jurisdictions, the product is underwritten by Beazley syndicates at Lloyd’s and is available only on a surplus lines basis through licensed surplus lines brokers. The publication and delivery of the information contained herein is not intended as a solicitation for the purchase of insurance on any US risk. Except where products are issued by Beazley Insurance Company, Inc., coverages are underwritten by Beazley syndicates at Lloyd’s and will vary depending on individual country law requirements and may be unavailable in some countries. The exact coverage afforded by the products described herein is subject to and governed by the terms and conditions of each policy issued. Some coverages are made available through Beazley USA Services, Inc., which is a service company this is a part of the Beazley Group and has authority to enter into contracts of insurance on behalf of the Lloyd’s underwriting members of Lloyd’s syndicates 623 and 2623 which are managed by Beazley Furlonge Limited. Beazley USA Services, Inc. is licensed and regulated by insurance regulatory authorities in the respective states of the US and transacts business in the State of California as Beazley Insurance Services (License#: 0G55497).