Beazley vs Cowbell: How Do They Compare for Fiduciary Liability Insurance?

Beazley underwrites fiduciary liability for plan administrators; Cowbell distributes Zurich-underwritten coverage for private companies under 250 employees and $50 million in assets, available only through insurance brokers appointed by Zurich, not directly to businesses.

Beazley offers fiduciary coverage alone or in ExecuGuard, with limits up to $20 million; Cowbell’s Zurich Select Plus is for private companies under 250 employees and $50 million in assets, through appointed wholesalers. ^1,^2,^3,⁴

What Are the Key Differences Between Beazley and Cowbell Fiduciary Liability Insurance?

Policy Structure and Insurer

Beazley underwrites fiduciary liability, though the product page does not identify the specific issuing entity. Cowbell operates Zurich’s Select Plus platform, where fiduciary is one of four modules underwritten by Zurich; buyers access it through appointed Zurich wholesalers. ¹ ³ ⁴

Appetite and Access

Cowbell targets private companies with under 250 employees and under $50 million in assets in Select Plus industries such as manufacturing and technology. Access is only through appointed Zurich E&S wholesalers via Cowbell’s API, not a direct business sale. Beazley sells standalone fiduciary and ExecuGuard and lists an ExecuGuard application; its reviewed claims do not publish those SME size caps. ³ ¹

What Each Publishes About Cover

Beazley lists statutory sublimits, HIPAA civil fines, omnibus plan language, settlor-capacity protection, BeazleySure and choice of counsel, with limits up to US $20 million. Cowbell describes fiduciary as protecting against claims from breaches of duties related to a 401(k) or health plan; neither Cowbell nor Zurich’s Select Plus page publishes fiduciary limits or a fiduciary-specific service such as plan-compliance consulting. Both mention claims service at a general level: Beazley on counsel flexibility, Cowbell and Zurich on Zurich Claims service for Select Plus overall. ¹ ³ ⁴

What Should You Confirm in Beazley and Cowbell Fiduciary Liability Insurance Quotes?

Confirm Cowbell access is through an appointed Zurich E&S wholesaler. ³
Ask which Zurich entity issues Select Plus fiduciary. ⁴
Ask Beazley which entity issues and whether ExecuGuard limits are shared. ¹ ²
Check Select Plus employee and asset caps against Beazley’s $20 million capacity. ³ ¹

Beazley vs Cowbell Fiduciary Liability Insurance Compared

Beazley vs Cowbell: Fiduciary Liability Insurance: documented features by provider

Criteria	Beazley Fiduciary Liability	Cowbell / Zurich Select Plus Fiduciary Liability
How to Apply	The Fiduciary page lists a downloadable ExecuGuard application as its Tools & Resources item, rather than a fiduciary-only application. ¹Company-reported. Fiduciary product page Tools & Resources section as read on 2026-09-23.	This fiduciary 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	Beazley explains that fiduciary liability protects the individuals responsible for running employee benefit plans, such as health plans, pension plans and 401(k) accounts, from personal liability if a claim is made against the plan, a personal exposure the page says many plan sponsors don't realize they have. ¹Company-reported. Fiduciary product page description; exclusions and conditions are set by the issued policy. The policy includes statutory-claim sublimits of US $250,000 for claims under the Pension Protection Act of 2006, ERISA Section 502(c), Internal Revenue Code Section 4975 and the PPACA, plus a separate US $1,000,000 sublimit for HIPAA claims and up to US $1,000,000 in coverage for HIPAA civil fines. ¹Company-reported. Fiduciary product page sublimit list; these sublimits sit inside, and are lower than, the overall policy limit. Beazley includes "omnibus" pension and welfare plan language, a US $25,000 sublimit for IRS and DOL voluntary compliance programs other than HIPAA, and settlor-capacity protection now written into the fiduciary insuring clauses. ¹Company-reported. Fiduciary product page feature list; actual plan-coverage scope depends on the issued policy wording.	Cowbell describes fiduciary liability as protecting against claims arising from breaches of fiduciary duties related to employee benefit plans, such as a company's 401(k) or health plan. ³Company-reported. FAQ 'What is the difference between management liability and D&O?'.
Role in This Line	Beazley underwrites fiduciary liability coverage for the individuals who administer employer benefit plans, sold standalone on its dedicated Fiduciary page and as one of three coverages bundled in its ExecuGuard package policy alongside D&O and employment practices liability. ^1,²Company-reported. US fiduciary liability as described on the two reviewed product pages; does not establish which entity issues a particular policy.	Fiduciary liability is one module within Cowbell's distribution of Zurich's Select Plus management liability product; Cowbell operates the platform, Zurich underwrites the module. Zurich's own page lists 'Fiduciary Liability' as one of the four modules a buyer can combine. ^3,⁴Company-reported. Management liability page intro and module list; Zurich page module-name section.

Criteria

Beazley Fiduciary Liability

Cowbell / Zurich Select Plus Fiduciary Liability

How to Apply

The Fiduciary page lists a downloadable ExecuGuard application as its Tools & Resources item, rather than a fiduciary-only application. ¹Company-reported. Fiduciary product page Tools & Resources section as read on 2026-09-23.

This fiduciary 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

Beazley explains that fiduciary liability protects the individuals responsible for running employee benefit plans, such as health plans, pension plans and 401(k) accounts, from personal liability if a claim is made against the plan, a personal exposure the page says many plan sponsors don't realize they have. ¹Company-reported. Fiduciary product page description; exclusions and conditions are set by the issued policy.

The policy includes statutory-claim sublimits of US $250,000 for claims under the Pension Protection Act of 2006, ERISA Section 502(c), Internal Revenue Code Section 4975 and the PPACA, plus a separate US $1,000,000 sublimit for HIPAA claims and up to US $1,000,000 in coverage for HIPAA civil fines. ¹Company-reported. Fiduciary product page sublimit list; these sublimits sit inside, and are lower than, the overall policy limit.

Beazley includes "omnibus" pension and welfare plan language, a US $25,000 sublimit for IRS and DOL voluntary compliance programs other than HIPAA, and settlor-capacity protection now written into the fiduciary insuring clauses. ¹Company-reported. Fiduciary product page feature list; actual plan-coverage scope depends on the issued policy wording.

Cowbell describes fiduciary liability as protecting against claims arising from breaches of fiduciary duties related to employee benefit plans, such as a company's 401(k) or health plan. ³Company-reported. FAQ 'What is the difference between management liability and D&O?'.

Role in This Line

Beazley underwrites fiduciary liability coverage for the individuals who administer employer benefit plans, sold standalone on its dedicated Fiduciary page and as one of three coverages bundled in its ExecuGuard package policy alongside D&O and employment practices liability. ^1,²Company-reported. US fiduciary liability as described on the two reviewed product pages; does not establish which entity issues a particular policy.

Fiduciary liability is one module within Cowbell's distribution of Zurich's Select Plus management liability product; Cowbell operates the platform, Zurich underwrites the module. Zurich's own page lists 'Fiduciary Liability' as one of the four modules a buyer can combine. ^3,⁴Company-reported. Management liability page intro and module list; Zurich page module-name section.