Alliance Risk vs CFC: How Do They Compare for D&O Insurance?

Alliance Risk offers broker review and markets D&O to carriers; CFC includes D&O in a US management-liability package, excludes some California and public-company risks, and separately offers Side A DIC excess cover.

Alliance Risk shops standalone D&O for you and publishes sample Side A limits and premium bands. CFC sells D&O only inside its US Management Liability package, which declines California-domiciled and US publicly traded companies. ^1,^3,⁴

What Are the Key Differences Between Alliance Risk and CFC D&O Insurance?

Broker Who Shops Standalone D&O vs a Package Module

With Alliance Risk, a broker takes your D&O to management-liability specialists, so the insurer you end up with depends on the placement. With CFC, you get D&O as one part of a management-liability package, plus a separate Side A DIC policy that sits as excess above D&O you already have. Choose Alliance Risk if you are California-domiciled, US-listed, or want D&O on its own; choose CFC if you want D&O bundled with other management cover or need Side A excess over an existing program. ¹ ³ ⁴

CFC Turns Away California and Public Companies

Alliance Risk targets venture-backed and public companies and tells founders to buy D&O at their first priced funding round. CFC's package brochure lists California-domiciled businesses and US publicly traded companies among the risks it declines, so those buyers can't use CFC's package at all. ¹ ² ⁴

Published Price Bands vs No Published Numbers

Alliance Risk gives sample Side A limits and premium bands, which helps you budget before you talk to anyone. It also warns that entry-level packages combining D&O, EPLI and fiduciary cover often share one aggregate limit, so one claim can drain all three. CFC covers the company itself as well as its directors and adds an extra limit for individuals, but publishes no dollar amounts or retentions. ¹ ² ⁴

What Should You Confirm in Alliance Risk and CFC D&O Insurance Quotes?

If you are California-domiciled or US-listed, ask CFC whether the package is available to you before spending time on an application. ⁴
Ask Alliance Risk which insurers it will approach and whether your D&O limit is shared with EPLI or fiduciary cover. ¹ ²
Ask CFC for the dollar amount of the extra limit for individuals and whether Side A DIC would sit above the package. ⁴ ³
Ask both for the insurer that will issue the policy. CFC's regulatory pages name CFC Underwriting Limited and Lloyd's Syndicate 1988 but not the issuer of a given US D&O policy. ¹ ⁵

Alliance Risk vs CFC D&O Insurance Compared

Alliance Risk vs CFC: D&O Insurance: documented features by provider

Criteria	Alliance Risk Directors & Officers (D&O) Insurance	CFC Directors & Officers Liability
Who It’s For	Alliance Risk says D&O is relevant to venture-backed and public companies, high-risk industries such as fintech, healthcare, real estate and financial services, companies going through M&A, IPO or leadership changes, nonprofits, and small private companies without outside investors. ¹Company-reported. D&O product page; eligibility for a particular company depends on underwriting. Alliance Risk says a company should turn on D&O coverage at its first priced funding round, because institutional investment brings personal exposure for directors and officers from day one. ²Company-reported. Management liability page's program-staging guidance, describing D&O specifically among the three bundled lines.	CFC's brochure lists California-domiciled business and US publicly traded companies among the risks it declines for the package that carries this D&O coverage. ⁴Company-reported. Brochure's 'What we decline' list; underwriting still applies to any individual business.
Coverage Features	Alliance Risk describes D&O policies it places as having three parts: Side A for individual directors and officers when the company cannot indemnify them, Side B reimbursing the company for indemnification costs, and Side C covering the company directly for certain liabilities. ¹Company-reported. D&O product page; actual policy structure and whether sides are combined or separately limited depend on the carrier and the policy as issued. Alliance Risk lists standard D&O exclusions it sees, including fraud and intentional misconduct, criminal acts, bodily injury and property damage, and often prior acts before the policy started; it says employment practices and ERISA benefit-plan claims are typically excluded and need separate EPLI or fiduciary liability coverage. ¹Company-reported. D&O product page; exclusion wording varies by carrier and the policy as issued.	CFC says its directors and officers cover includes protection for the entity itself and aims to prevent directors and officers from having to sell personal assets to pay defense costs. ⁴Company-reported. Brochure's 'Directors and officers cover' description; the issued policy wording determines actual entity and Side B/C coverage terms. CFC's brochure lists an additional limit for insured persons as part of the directors and officers liability section, on top of the package's base limit. ⁴Company-reported. Brochure's 'What else is in the policy?' list; the dollar amount of that additional limit is not stated on the reviewed pages. CFC separately offers Side A DIC (difference in conditions), which it describes as excess coverage for directors and officers of private and publicly traded organizations, sitting above the primary management-liability D&O cover. ³Company-reported. Management-liability product page; Side A DIC has its own brochure that was not opened for this record, so its terms are not otherwise described here.
Role in This Line	Alliance Risk places D&O insurance as a broker: it reviews a company's existing D&O program and markets the risk to carriers that specialize in management liability. ¹Company-reported. D&O product page; Alliance Risk does not underwrite the policy itself.	CFC includes directors and officers liability inside its US Management Liability package rather than selling it as a standalone product. It separately sells Side A DIC, an excess policy that sits above a company's existing D&O program. ^3,⁴Company-reported. CFC's management-liability product page and brochure; package composition as CFC describes it.

Criteria

Alliance Risk Directors & Officers (D&O) Insurance

CFC Directors & Officers Liability

Who It’s For

Alliance Risk says D&O is relevant to venture-backed and public companies, high-risk industries such as fintech, healthcare, real estate and financial services, companies going through M&A, IPO or leadership changes, nonprofits, and small private companies without outside investors. ¹Company-reported. D&O product page; eligibility for a particular company depends on underwriting.

Alliance Risk says a company should turn on D&O coverage at its first priced funding round, because institutional investment brings personal exposure for directors and officers from day one. ²Company-reported. Management liability page's program-staging guidance, describing D&O specifically among the three bundled lines.

CFC's brochure lists California-domiciled business and US publicly traded companies among the risks it declines for the package that carries this D&O coverage. ⁴Company-reported. Brochure's 'What we decline' list; underwriting still applies to any individual business.

Coverage Features

Alliance Risk describes D&O policies it places as having three parts: Side A for individual directors and officers when the company cannot indemnify them, Side B reimbursing the company for indemnification costs, and Side C covering the company directly for certain liabilities. ¹Company-reported. D&O product page; actual policy structure and whether sides are combined or separately limited depend on the carrier and the policy as issued.

Alliance Risk lists standard D&O exclusions it sees, including fraud and intentional misconduct, criminal acts, bodily injury and property damage, and often prior acts before the policy started; it says employment practices and ERISA benefit-plan claims are typically excluded and need separate EPLI or fiduciary liability coverage. ¹Company-reported. D&O product page; exclusion wording varies by carrier and the policy as issued.

CFC says its directors and officers cover includes protection for the entity itself and aims to prevent directors and officers from having to sell personal assets to pay defense costs. ⁴Company-reported. Brochure's 'Directors and officers cover' description; the issued policy wording determines actual entity and Side B/C coverage terms.

CFC's brochure lists an additional limit for insured persons as part of the directors and officers liability section, on top of the package's base limit. ⁴Company-reported. Brochure's 'What else is in the policy?' list; the dollar amount of that additional limit is not stated on the reviewed pages.

CFC separately offers Side A DIC (difference in conditions), which it describes as excess coverage for directors and officers of private and publicly traded organizations, sitting above the primary management-liability D&O cover. ³Company-reported. Management-liability product page; Side A DIC has its own brochure that was not opened for this record, so its terms are not otherwise described here.

Role in This Line

Alliance Risk places D&O insurance as a broker: it reviews a company's existing D&O program and markets the risk to carriers that specialize in management liability. ¹Company-reported. D&O product page; Alliance Risk does not underwrite the policy itself.

CFC includes directors and officers liability inside its US Management Liability package rather than selling it as a standalone product. It separately sells Side A DIC, an excess policy that sits above a company's existing D&O program. ^3,⁴Company-reported. CFC's management-liability product page and brochure; package composition as CFC describes it.