Alliance Risk vs Corgi D&O Insurance

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. ³Company-reported. D&O product page; Alliance Risk does not underwrite the policy itself.

Corgi sells D&O as a standalone startup policy and also bundles it into its stage-based packages starting at pre-seed and seed, describing it as protection for directors and officers against personal financial liability for management decisions. ¹⁰Company-reported. Product page for form CORG-DO-0100, last reviewed by Corgi on April 24, 2026 per the page itself.

The reviewed D&O page does not name the insurer that would issue a policy; it says Alliance Risk markets a company's risk to carriers that specialize in management liability, so the issuing insurer depends on the placement. ³Not publicly disclosed. D&O product page as read on 2026-09-23.

Corgi's D&O product page states directly that the policy is a claims-made policy underwritten by Technology Risk Retention Group, Inc., a risk retention group. ¹⁰Company-reported. Policy Boundaries section of the D&O product page; this is a line-specific underwriter statement, distinct from Corgi's general multi-entity disclaimer.

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. ³Company-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. ⁴Company-reported. Management liability page's program-staging guidance, describing D&O specifically among the three bundled lines.

Not described in the reviewed sources.

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. ³Company-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. ³Company-reported. D&O product page; exclusion wording varies by carrier and the policy as issued.

The policy has three coverage parts: Side A pays individual directors and officers directly when the company cannot indemnify them and carries no retention; Side B reimburses the company when it does indemnify directors and officers; Side C covers the company entity itself, subject to additional exclusions including intellectual-property claims and contractual liability. ¹⁰Company-reported. Coverage summary for form CORG-DO-0100; the issued policy and declarations control.

The standard policy excludes claims from registered public securities offerings, but a carve-back preserves coverage for exempt transactions such as Regulation D private placements, which Corgi says covers how most startups raise capital. ¹⁰Company-reported. Scenario notes for form CORG-DO-0100; not every fundraising structure automatically qualifies as exempt.

Corgi covers individual directors and officers (Sides A and B) who receive a Wells Notice, subpoena or target letter from a regulator, but the standard policy excludes entity-level regulatory investigations of the company itself. ¹⁰Company-reported. Policy notes for form CORG-DO-0100; informal inquiries and document requests that don't rise to these triggers are not covered.

Alliance Risk publishes indicative Side A limit and premium ranges: mid-size companies ($5M-$50M revenue) typically carry $2M-$5M in Side A limits, and larger private companies $5M-$25M or more. It shows overall D&O premium bands from $2,500-$10,000 for small private companies up to $50,000-$500,000 for large private companies, noting fintech, crypto and venture-backed companies often pay 2-3x more. ³Company-reported. D&O product page; illustrative bands, not a quote for any particular company.

Alliance Risk says entry-level management-liability packages that bundle D&O with EPLI and fiduciary often share a single aggregate limit, so a large EPLI or fiduciary settlement earlier in the policy year can reduce what is left for a later D&O claim; it says a specialist broker structures shared versus separate limits to manage that risk. ⁴Company-reported. Management liability page's discussion of bundled D&O, EPLI and fiduciary programs.

Corgi's illustrative D&O structure shows limits up to $1 million per claim and $2 million in the aggregate, with a $25,000 self-insured retention per claim (no retention on Side A) and defense costs included within the limit. ¹⁰Company-reported. Illustrative policy structure on the product page; actual limits and retentions appear on the declarations.

Alliance Risk offers a no-charge review of an existing D&O policy, identifying gaps in the Side A/B/C structure and missing endorsements and comparing the program to market options. ³Company-reported. D&O product page, Get Your D&O Risk Review section.

Corgi offers three optional D&O endorsements: Outside Directorship (extends coverage to directors and officers serving on outside boards at the company's request), Crisis Event Expense (covers PR and crisis-communications costs after negative publicity), and Investigative Costs (broader coverage for regulatory inquiries short of a formal claim). ¹⁰Company-reported. Available Add-ons section of the product page; endorsement availability varies by jurisdiction and underwriting, and each requires a separate endorsement to apply.

For a D&O quote, Alliance Risk asks for company revenue, industry and stage, board composition, investor structure, current D&O coverage and carrier, five-year claims history and upcoming events such as M&A or an IPO, and says it typically delivers proposals within a few business days. ³Company-reported. D&O product page, What We Need for Your Quote section; timing is a company estimate, not a guarantee.

You can request a D&O quote online through Corgi's self-serve application. ¹⁰Company-reported. Product page quote call to action.

The reviewed D&O page does not describe an Alliance Risk claims-handling or claims-advocacy process; it discusses what a D&O policy covers rather than how Alliance Risk itself supports a claim. ³Not found in reviewed sources. D&O product page as read on 2026-09-23.

Not described in the reviewed sources.