Crime & Fidelity Insurance and Management Liability Insurance can overlap, but they are designed for different risks.

What does Crime & Fidelity Insurance cover? #

Crime & Fidelity Insurance can respond to certain direct financial losses caused by dishonest or criminal acts.

Depending on the policy, this can include:

• Employee fraud.
• Employee theft.
• Forgery.
• External crime.
• Computer crime.
• Theft of money or securities.
• Social engineering fraud where included.

What does Management Liability Insurance cover? #

Management Liability Insurance commonly combines several sections that can include:

• Directors and Officers Liability.
• Company Liability.
• Employment Practices Liability.
• Statutory Liability.
• Crime or Employee Fraud.
• Other specified management exposures.

The exact structure varies between insurers.

Can Management Liability include Crime cover? #

Yes.

Many Management Liability policies contain a Crime or Employee Fraud section.

However, the Crime cover within a packaged Management Liability policy may be narrower or have lower limits than a standalone Commercial Crime policy.

When might standalone Crime Insurance be considered? #

A dedicated Commercial Crime policy can be relevant where a business has:

• Significant employee fraud exposure.
• Large payment volumes.
• Custody of client money.
• Complex financial systems.
• High-value assets.
• Significant external crime exposure.
• A need for broader Crime limits or extensions.

The Crime section within an existing Management Liability policy should be reviewed before deciding whether separate cover is required.