Crime Insurance

Global Crime Insurance Market to Reach US$35.4 Billion by 2030

The global market for Crime Insurance estimated at US$16.8 Billion in the year 2024, is expected to reach US$35.4 Billion by 2030, growing at a CAGR of 13.2% over the analysis period 2024-2030. Fraud Cover, one of the segments analyzed in the report, is expected to record a 15.4% CAGR and reach US$16.8 Billion by the end of the analysis period. Growth in the Forgery Cover segment is estimated at 10.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$4.6 Billion While China is Forecast to Grow at 18.1% CAGR

The Crime Insurance market in the U.S. is estimated at US$4.6 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$7.6 Billion by the year 2030 trailing a CAGR of 18.1% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 9.5% and 11.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.5% CAGR.

Global Crime Insurance Market – Key Trends & Drivers Summarized

Why Is Crime Insurance Becoming a Critical Component of Enterprise Risk Portfolios?

Crime insurance, also known as fidelity insurance, is gaining renewed importance as businesses face increasing exposure to both internal and external financial threats, including employee fraud, embezzlement, forgery, cyber-enabled theft, vendor fraud, and third-party collusion. In an age of digital finance and remote operations, the traditional lines between cybercrime and commercial crime have blurred, compelling companies to adopt broader, more agile coverage frameworks that shield against financial loss arising from intentional misconduct.

This insurance class plays a crucial role in risk transfer for organizations that manage large cash flows, decentralized operations, or high-trust employee roles in accounting, procurement, and treasury. With white-collar crimes often going undetected for years and resulting in substantial financial and reputational losses, crime insurance serves as both a financial safeguard and a governance enhancer. It is particularly vital for regulated industries—such as banking, healthcare, and legal services—where fiduciary duties and trust-based roles are subject to increasing scrutiny.

What Coverage Innovations and Digital Threat Dynamics Are Shaping Modern Crime Insurance Policies?

Crime insurance is evolving to cover a broader spectrum of loss types, perpetrators, and access points. Modern policies include coverage for computer fraud, funds transfer fraud, social engineering schemes, and impersonation attacks, reflecting the intersection between cyber tactics and financial theft. Insurers are increasingly bundling crime and cyber liability policies or offering endorsements that bridge these exposures—especially for phishing-induced wire transfers and manipulated vendor instructions.

Loss detection, documentation, and claims recovery are being supported by forensic accounting services and digital evidence protocols, often offered as part of insurer loss prevention programs. Pre-claim advisory services, employee training modules, and fraud risk assessments are also being introduced to strengthen policyholders’ internal controls, thereby reducing claims frequency and improving underwriting outcomes.

Insurtech platforms are transforming how crime risks are underwritten, monitored, and priced. AI-based fraud detection, behavioral risk scoring, and anomaly surveillance tools are increasingly used in policyholder assessments. Real-time telemetry from financial systems, internal audit tools, and cyber monitoring platforms can now be integrated into insurer platforms, enabling dynamic underwriting and claims alerts.

Who Are the Primary Policyholders and How Are Industry-Specific Risks Driving Demand?

Crime insurance is widely adopted across industries where financial transactions, sensitive data, and supply chain interactions are integral to operations. Financial institutions, investment managers, and fintech firms rely on comprehensive fidelity coverage for employee dishonesty, client fund theft, and unauthorized transactions. Healthcare providers, law firms, and NGOs procure coverage for billing fraud, check tampering, and donor fund misappropriation.

Retailers, manufacturers, and logistics operators are purchasing crime insurance to cover inventory theft, procurement collusion, and warehouse fraud. In the construction and real estate sectors, crime policies cover forgery of payment instruments and kickback schemes in contractor management. Even small and medium enterprises (SMEs) are adopting crime policies, often as part of broader commercial package policies, recognizing the rising sophistication and persistence of fraud threats.

Regionally, North America remains the largest market due to regulatory requirements (e.g., financial fidelity bonds), high litigation exposure, and strong uptake by the financial sector. Europe and Asia-Pacific are seeing increased penetration, driven by compliance mandates under GDPR, PSD2, and regional anti-corruption laws. Latin America and the Middle East are also witnessing growing interest as digitization accelerates and awareness of financial crime risks rises among mid-market enterprises and public sector organizations.

What Is Driving the Expansion of the Global Crime Insurance Market?

The growth in the crime insurance market is driven by the increasing complexity, frequency, and financial impact of occupational fraud and third-party financial misconduct. High-profile fraud incidents and regulatory enforcement actions have heightened board-level awareness of internal control risks, prompting CFOs and risk managers to seek comprehensive coverage for intentional acts that fall outside cyber, property, or general liability policies.

Rising adoption of digital payment platforms, remote financial operations, and cloud-based accounting tools is expanding the attack surface for fraud, making traditional internal audits insufficient on their own. Crime insurance provides a safety net that complements internal controls, mitigates reputational damage, and ensures liquidity in the event of uncovered losses.

Moreover, insurers are increasingly offering modular and industry-specific policy structures, making crime coverage more accessible to mid-sized firms and startups. The convergence of financial crime and cybersecurity risks is also prompting carriers to expand coverage definitions and develop new actuarial models. As fraud schemes evolve and global regulatory oversight intensifies, crime insurance is becoming a strategic layer in enterprise risk architecture, ensuring resilience and financial recovery in an era of growing economic, digital, and human risk.

SCOPE OF STUDY:

The report analyzes the Crime Insurance market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Coverage (Fraud Cover, Forgery Cover, Theft Cover, Kidnapping Cover, Other Coverages); End-User (Individuals, Business)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 44 Featured) -

• AIG (American International Group, Inc.)
• Allianz SE
• Aon PLC
• Arthur J. Gallagher & Co.
• Aviva plc
• AXA SE
• Beazley plc
• Berkshire Hathaway Specialty Insurance
• Chubb
• CNA Financial Corporation
• Great American Insurance Group
• HDFC ERGO General Insurance Company Limited
• Morris & Reynolds Insurance
• Nationwide Mutual Insurance Company
• QBE Insurance Group
• RSA Insurance Group
• Sompo International
• The Travelers Companies, Inc.
• Zurich Insurance Group

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