CFC vs 
Gallagher: How Do They Compare for D&O Insurance?
Gallagher places D&O and offers claims advocacy for IPO and blank-check merger programs; CFC packages D&O with US management liability and also sells Side A DIC excess cover.
CFC sells D&O inside its US Management Liability package and declines California-based and US publicly traded companies. Gallagher is a broker that specializes in companies going public by IPO, SPAC or direct listing and has in-house attorneys who advocate on claims. 1,2,5
What Are the Key Differences Between CFC and Gallagher D&O Insurance?
Private-Company Package vs Going-Public Specialist
Public directors aren't entirely shut out at CFC: it sells Side A DIC (extra personal protection for directors) separately to directors of both private and public organizations, just not the main package. 1 2 Gallagher's Executive and Financial Risk practice targets SPACs around IPO and de-SPAC and companies listing by IPO or direct listing, and can bundle pre- and post-IPO D&O with representations and warranties, E&O, cyber, tax and contingent liability. 5 Choose Gallagher if you're public or planning to list; choose CFC if you're a private company outside California that wants D&O packaged with other management liability. 5 2
Who Helps When You Have a Claim
Gallagher has its own claims-advocacy team with in-house attorneys for these lines, and benchmarks your limit, including by the court venue you'd likely face. 5 CFC takes US claim notices by phone, email or online form and assigns one adjuster from notice to resolution. 4 Neither publishes D&O limit amounts; CFC lists an extra limit for insured persons without saying how much. 2
What Should You Confirm in CFC and Gallagher D&O Insurance Quotes?
- If you're California-based or public, ask CFC upfront whether you can get the package at all. 2
- Ask CFC for Side A DIC pricing and the amount of the extra insured-persons limit. 1 2
- Ask Gallagher which insurer it would place you with and how its claims attorneys work with that insurer. 5
- Ask CFC which company issues the US policy; its regulatory page names CFC Underwriting Limited and Lloyd's Syndicate 1988 but not the US D&O issuer. 3
CFC vs Gallagher D&O Insurance Compared
CFC vs Gallagher: D&O Insurance: documented features by provider
| Criteria | CFC Directors & Officers Liability | Gallagher Directors and Officers (D&O) Liability Insurance |
|---|---|---|
| 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. 2Company-reported. Brochure's 'What we decline' list; underwriting still applies to any individual business. | Gallagher specifically markets D&O placement and advisory support to special-purpose acquisition companies (SPACs) around their IPO and de-SPAC process, and to companies going public through an IPO or direct listing. 5Company-reported. Group-level executive-and-financial-risk practice page, SPAC and IPO subsections. |
| 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. 2Company-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. 2Company-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. 1Company-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. | Gallagher says its D&O team constructs policies addressing lawsuits from shareholders, employees, competitors, suppliers and government bodies, and can evaluate an existing D&O program against the market. 5Company-reported. Group-level executive-and-financial-risk practice page; a service description, not a specific policy's insuring agreement. |
| 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. 1,2Company-reported. CFC's management-liability product page and brochure; package composition as CFC describes it. | Gallagher's Executive and Financial Risk practice places D&O liability insurance and advises on program design; it does not underwrite the policy, which is issued by a carrier selected during placement. 5Company-reported. Group-level executive-and-financial-risk practice page. |
| Claims Support | CFC provides a US claim-notification route by phone, email and online form, and says a dedicated claims adjuster manages a claim from notification through resolution. 4Company-reported. Claims page as read on 2026-09-23; not specific to D&O claim outcomes or timing. | Gallagher says its Executive and Financial Risk practice has a dedicated claims-advocacy team with in-house attorneys specializing in these lines, and that it uses quantitative benchmarking, including measuring the judicious use of Side-A-only D&O coverage, to guide more precise coverage structures. 5Company-reported. Group-level executive-and-financial-risk practice summary; describes a support service, not a guarantee of claim payment. |
