Beazley vs Cowbell: How Do They Compare for D&O Insurance?

Cowbell’s Zurich D&O module is limited to private companies below 250 employees and $50 million in assets and is accessed through firms Zurich appoints to distribute the module; Beazley insures private-company D&O up to $20 million.

Beazley writes private-company D&O itself with limits up to $20 million and lets you choose whether it defends you or pays your chosen lawyers. Cowbell's D&O is a Zurich module for private companies under 250 employees and $50 million in assets, reachable only through an appointed wholesaler. ^1,^2,³

What Are the Key Differences Between Beazley and Cowbell D&O Insurance?

Who Qualifies and How Much Limit You Can Get

Beazley's private-company D&O has no stated size cutoff and advertises limits up to $20 million, plus a dedicated Excess Side A limit that protects individual directors when the company can't indemnify them or the main limit runs out. Cowbell's module is gated to private companies with under 250 employees and under $50 million in assets, in industries like technology, construction, manufacturing, hospitality and retail, and neither Cowbell nor Zurich publishes its limits. Choose Beazley if you're above Cowbell's size gate or need more than a small-company limit; choose Cowbell if you're a small private company whose broker works with a Zurich-appointed wholesaler. ¹ ³ ⁴

Standalone or Packaged

Beazley sells D&O standalone or bundled with employment-practices and fiduciary cover in its ExecuGuard package. Cowbell's D&O is one module inside Zurich's Select Plus management-liability product, which Zurich labels "Private Management and Company Liability." Either way, ask whether the modules share a limit. ² ³ ⁴

Defense Terms

Beazley lets you pick "duty to defend," where it runs the defense, or "pay on behalf," where you pick counsel and it pays; it says it pays 100% of defense costs for covered loss. Cowbell's pages say the module covers legal fees, settlements and defense costs but describe no such choice. ¹ ³

What Should You Confirm in Beazley and Cowbell D&O Insurance Quotes?

Check your headcount and assets against Cowbell's under-250 and under-$50 million gate before you ask for a quote. ³
Ask for Cowbell's Select Plus D&O limit and retention; neither Cowbell nor Zurich publishes them. ⁴
Ask Beazley whether your quote is on an admitted or a surplus-lines form, since it offers both, and which Beazley company issues it. ¹
Ask Cowbell's wholesaler to confirm the issuing Zurich company on the policy. ⁴

Beazley vs Cowbell D&O Insurance Compared

Beazley vs Cowbell: D&O Insurance: documented features by provider

Criteria	Beazley D&O – Private Companies	Cowbell / Zurich Select Plus Private Company D&O
Who It’s For	The D&O page targets privately held companies of all sizes facing litigation such as employment allegations, fraud and misrepresentation claims, without a stated employee-count or revenue threshold on that page. ^1,²Company-reported. Private-company D&O only; ExecuGuard buyers can additionally choose to share limits across D&O, EPL and fiduciary coverages.	Cowbell targets this D&O module at private companies with under 250 employees and under $50M in assets, in industries such as technology, construction, manufacturing, hospitality, and retail. ³Company-reported. FAQ 'What size accounts are targeted?' and Target industries list.
How to Apply	Beazley lists a downloadable EPL renewal application as a tool on the D&O page and names regional Executive Risk underwriters and brokers as contacts, but the reviewed page does not describe a self-service online quoting flow for new D&O business. ¹Company-reported. D&O - Private Companies product page as read on 2026-09-23; buyers typically work through a broker or underwriter contact.	This D&O module is accessed only by appointed Zurich E&S wholesalers through the Cowbell platform's API; it is not sold directly to businesses. ³Company-reported. FAQ 'How can I access the Zurich Select Plus management liability product through Cowbell?'.
Coverage Features	The D&O product lets the policyholder choose between a "duty to defend" or "pay on behalf" claim-handling structure, and Beazley says it pays 100% of defense costs for covered loss. ¹Company-reported. D&O - Private Companies product page; actual defense obligations and cost-sharing are set by the issued policy. Beazley offers a dedicated additional Excess Side A limit for individual directors and officers, plus an optional employed-lawyers errors-and-omissions extension. ¹Company-reported. D&O - Private Companies product page; availability and pricing of the extension depend on underwriting.	Cowbell describes D&O liability as protecting the personal assets of directors and officers and the company's financial assets against claims alleging wrongful acts in their capacity as directors and officers. ³Company-reported. FAQ 'What is the difference between management liability and D&O?'.
Role in This Line	Beazley underwrites private-company directors and officers (D&O) liability itself, offered as a standalone product on its D&O - Private Companies page and bundled with employment practices and fiduciary liability coverage in its ExecuGuard package policy. ^1,²Company-reported. US private-company D&O as described on the two reviewed product pages; does not establish which entity issues a particular policy.	Private Company D&O is one module within Cowbell's distribution of Zurich's Select Plus management liability product; Cowbell gives Zurich-appointed E&S wholesalers platform access, and Zurich underwrites the module. Zurich's own page labels this module 'Private Management and Company Liability' rather than plain 'D&O.' ^3,⁴Company-reported. Management liability page intro and module list; Zurich page module-name section.
Risk Services	D&O policyholders get pre-approved choice-of-counsel flexibility, and law-firm insureds can access a bespoke executive-risk wording through Beazley's related Practice Protect product. ¹Company-reported. D&O - Private Companies product page; scope and terms of the Practice Protect wording were not independently reviewed.	Cowbell frames D&O coverage as a way to help attract and retain directors and officers by giving them personal-asset protection, and says the product covers legal fees, settlements, and other defense costs for the company and its management. ³Company-reported. FAQ 'Why does my company need management liability coverage?'.