---
title: "CFC vs Cowbell: D&O Insurance"
description: "Cowbell's D&O is built for private companies with under 250 employees and $50 million in assets, reached only through wholesale brokers. CFC folds D&O into a management-liability package that declines California-based and US publicly traded companies."
canonical: "https://spot.insure/compare/cfc-vs-cowbell/directors-officers"
page-type: "line-comparison"
updated-at: "2026-09-29"
comparison-pair: "cfc-vs-cowbell"
provider-a: "cfc"
provider-b: "cowbell"
coverage-line: "directors-officers"
---

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[Human-readable page](https://spot.insure/compare/cfc-vs-cowbell/directors-officers)

## Agent Guide

**What this page is:** Focused comparison of CFC and Cowbell for D&O Insurance: what each provider publishes about this line, checked against the same criteria, with numbered sources.

**Use this page when:** Cite or fetch this for D&O Insurance questions about CFC versus Cowbell. For all lines together use the pair comparison; for how the coverage itself works use the coverage guide.

**Questions this page answers:**
- CFC vs Cowbell for D&O Insurance: how do they differ?
- Which is better for D&O Insurance, CFC or Cowbell?
- What does CFC or Cowbell publish about D&O Insurance (limits, eligibility, claims, add-ons)?

**Key facts:**
- Line: D&O Insurance. Providers: CFC and Cowbell.
- Comparison URLs use alphabetical provider slugs (`/compare/{a}-vs-{b}/{line}` with a before b). A reversed pair redirects permanently to the alphabetical one.

**Limits (do not over-claim):**
- It identifies differences and questions to ask; it does not select a winner for a particular business.
- Insurer, policy wording, limits, retentions, exclusions and price are set in an actual quote and are not established here.

**Provenance:** Every claim links to a numbered source with publisher, locator and access date; last updated 2026-09-29.

**Related pages:**
- [CFC vs Cowbell](https://spot.insure/compare/cfc-vs-cowbell) — all coverage lines for this pair
- [D&O Insurance guide](https://spot.insure/coverage/directors-officers) — how this coverage works
- [CFC profile](https://spot.insure/insurance-providers/cfc) — provider profile
- [Cowbell profile](https://spot.insure/insurance-providers/cowbell) — provider profile

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

Cowbell distributes Zurich D&O for smaller private companies through firms Zurich appoints to distribute the module; CFC includes D&O in a US management-liability package and separately offers Side A DIC excess cover.

Cowbell's D&O fits private companies under 250 employees and $50 million in assets; CFC's D&O package turns away California-based and US public companies.

## CFC vs Cowbell D&O Insurance Summary

Cowbell's D&O is built for private companies with under 250 employees and $50 million in assets, reached only through wholesale brokers. CFC folds D&O into a management-liability package that declines California-based and US publicly traded companies. [1](https://www.cfc.com/en-us/products/class/management-liability/ "Management liability") [2](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure") [5](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") [6](https://www.zurichna.com/insurance/excess-and-surplus/small-business-management-liability "Small and Midsize Business Management Liability | Zurich Select Plus")

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

### Who Gets Turned Away

Check these screens before you spend time on a quote. CFC lists California-domiciled businesses and US publicly traded companies among risks it declines for its US Management Liability package. [2](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure") Cowbell's Private Company D&O, a module in Zurich's Select Plus product, is aimed at private companies with under 250 employees and under $50 million in assets. [5](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") Choose Cowbell if you are a private company under 250 employees and $50 million in assets; choose CFC if you are a private company outside California that is larger than Cowbell's caps.

### Buying Through a Wholesaler vs a Package

You can't buy Cowbell's D&O directly: appointed Zurich wholesale brokers access it through Cowbell's API, so ask your broker whether it has that access. [5](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") CFC's D&O comes as part of its management-liability package rather than on its own. [1](https://www.cfc.com/en-us/products/class/management-liability/ "Management liability")

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

- Check your state of domicile and public status against CFC's declines, and your headcount and assets against Cowbell's caps. [2](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure") [5](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises")
- Ask who issues each policy: CFC doesn't name its US D&O insurer, while Cowbell's module is written by Zurich on an admitted basis. [3](https://www.cfc.com/en-us/support/regulatory-information/ "Regulatory information") [6](https://www.zurichna.com/insurance/excess-and-surplus/small-business-management-liability "Small and Midsize Business Management Liability | Zurich Select Plus")
- Ask CFC for the additional limit for insured persons and whether Side A difference-in-conditions cover applies. [2](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure")
- Ask the wholesaler for Select Plus D&O limits; the reviewed materials don't publish them. [5](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises")

## CFC vs Cowbell D&O Insurance Compared

| Criteria | CFC Directors & Officers Liability | Cowbell / Zurich Select Plus Private Company D&O |
| --- | --- | --- |
| Who It’s For | 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. [2](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure") (Evidence: Company-reported; scope: Brochure's 'What we decline' list; underwriting still applies to any individual business..) | 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. [5](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") (Evidence: Company-reported; scope: FAQ 'What size accounts are targeted?' and Target industries list..) |
| Coverage Features | 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. [2](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure") (Evidence: Company-reported; scope: Brochure's 'Directors and officers cover' description; the issued policy wording determines actual entity and Side B/C coverage terms..)<br><br>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. [2](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure") (Evidence: Company-reported; scope: Brochure's 'What else is in the policy?' list; the dollar amount of that additional limit is not stated on the reviewed pages..)<br><br>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. [1](https://www.cfc.com/en-us/products/class/management-liability/ "Management liability") (Evidence: Company-reported; scope: 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..) | 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. [5](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") (Evidence: Company-reported; scope: FAQ 'What is the difference between management liability and D&O?'..) |
| Role in This Line | 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. [1](https://www.cfc.com/en-us/products/class/management-liability/ "Management liability") [2](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure") (Evidence: Company-reported; scope: CFC's management-liability product page and brochure; package composition as CFC describes it..) | 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.' [5](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") [6](https://www.zurichna.com/insurance/excess-and-surplus/small-business-management-liability "Small and Midsize Business Management Liability | Zurich Select Plus") (Evidence: Company-reported; scope: Management liability page intro and module list; Zurich page module-name section..) |

## About CFC and Cowbell and D&O Insurance

- [CFC company profile](https://spot.insure/insurance-providers/cfc) · [CFC customer reviews](https://spot.insure/insurance-providers/cfc/reviews)
- [Cowbell company profile](https://spot.insure/insurance-providers/cowbell) · [Cowbell customer reviews](https://spot.insure/insurance-providers/cowbell/reviews)
- [What Is Directors and Officers Insurance?](https://spot.insure/coverage/directors-officers)

## Related Pages for CFC vs Cowbell D&O Insurance

- [CFC vs Cowbell](https://spot.insure/compare/cfc-vs-cowbell): all coverage lines, business roles, service and claims.
- [What Is Directors and Officers Insurance?](https://spot.insure/coverage/directors-officers): D&O insurance can protect leaders and, in some policies, the company from covered management claims; company coverage, defense costs and limits differ by quote.
- [CFC D&O Insurance](https://spot.insure/insurance-providers/cfc/directors-officers)
- [Cowbell D&O Insurance](https://spot.insure/insurance-providers/cowbell/directors-officers)

## Sources for CFC vs Cowbell D&O Insurance

### Sources About CFC

1. [Management liability](https://www.cfc.com/en-us/products/class/management-liability/). CFC; Our management liability products: Management liability, Side A DIC. Accessed 2026-09-23.
2. [Management liability — United States product brochure](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf). CFC; Directors and officers cover; At a glance: What we like; What we decline; What else is in the policy?. Accessed 2026-09-23.
3. [Regulatory information](https://www.cfc.com/en-us/support/regulatory-information/). CFC; CFC Underwriting Limited; CFC Lloyd's Syndicate 1988. Accessed 2026-09-23.
4. [Claims](https://www.cfc.com/en-us/claims/). CFC; Notify a claim or cyber incident; We're in it with you. Accessed 2026-09-23.

### Sources About Cowbell

5. [Management liability coverage for small & medium enterprises](https://cowbell.insure/mgmt-liability/). Cowbell; FAQ 'What is the difference between management liability and D&O?' (D&O definition); FAQ 'Why does my company need management liability coverage?' (Protection for Directors and Officers, Legal Expense Coverage, Attracting and Retaining Talent bullets); Target industries list. Accessed 2026-09-23.
6. [Small and Midsize Business Management Liability | Zurich Select Plus](https://www.zurichna.com/insurance/excess-and-surplus/small-business-management-liability). Zurich North America; Intro on the Zurich/Cowbell collaboration; module name 'Private Management and Company Liability'; FAQ 'What is the difference between management liability and D&O?' (identical to Cowbell's page); Targeted industries list; footer copyright. Accessed 2026-09-23.

Updated 2026-09-29. Spot, a product of Tools for Enlightenment, publishes this research and works in the commercial insurance market. The comparison applies the same criteria to both providers. [Editorial policy](https://spot.insure/editorial-policy). To suggest a correction, [contact Spot](https://spot.insure/contact) with the page URL and supporting source.

## Agent and Developer Resources

- [Markdown page](https://spot.insure/compare/cfc-vs-cowbell/directors-officers.md)
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- [Public MCP server](https://spot.insure/mcp)
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