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Survey Report

Insurance Marketplace Realities 2024 Spring Update – Fidelity/crime

May 8, 2024

Pricing remains stable and competitive, which is largely attributable to the profitability of this product line.
Financial, Executive and Professional Risks (FINEX)
Rate predictions: Fidelity/crime
  Trend Range
FI bond Flat, (Neutral decrease) Flat
Commercial crime Flat, (Neutral decrease) Flat


Despite the evolving threat landscape, insurers want to write more crime business.

  • According to annual data published by The Surety & Fidelity Association of America, the average net loss ratio for the top writers of fidelity bonds is very favorable, indicating a highly profitable product line.
  • In 2024, crime underwriters are tasked with maintaining their crime books while managing large growth goals in a competitive environment.
  • Except for a handful of challenged industry classes, crime underwriters generally have no rate initiatives and therefore flat is achievable assuming no material changes in exposure year over year.

What is causing the surge in check fraud? The sophistication of criminals is only being strengthened by technology which allows the bad actors to send encrypted messages while concealing their identities.

  • The types and trends of emerging check fraud include stolen checks, counterfeit, remote deposit capture and ATM deposits.
  • A few tips to mitigate against forged check losses include using online payment rather than physical checks to pay your bills, using post office lobby locations instead of a mailbox or drop-box and checking your bank statements regularly.

Cybercriminals are using artificial intelligence to assist them in identifying high value targets, vulnerabilities and in the execution of the crime itself.

  • Deepfake imposter scams, powered by artificial intelligence, are driving a new wave of fraud and could turbocharge the cybertheft economy, according to the U.S. Federal Trade Commission.
  • Threat actors are using WormGPT and other generative AI tools to help them craft highly targeted and convincing spoofing emails, etc.
  • Like other types of fraud that target individuals through deceptive tactics, companies must maintain robust controls and procedures to mitigate against these types of scams.


Willis Towers Watson hopes you found the general information provided in this publication informative and helpful. The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal advisors. In the event you would like more information regarding your insurance coverage, please do not hesitate to reach out to us. In North America, Willis Towers Watson offers insurance products through licensed entities, including Willis Towers Watson Northeast, Inc. (in the United States) and Willis Canada Inc. (in Canada).


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