--- title: "CFC vs Gallagher: D&O Insurance" description: "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." canonical: "https://spot.insure/compare/cfc-vs-gallagher/directors-officers" page-type: "line-comparison" updated-at: "2026-09-29" comparison-pair: "cfc-vs-gallagher" provider-a: "cfc" provider-b: "gallagher" coverage-line: "directors-officers" --- Agents: connect to Spot's public MCP server at https://spot.insure/mcp for better access to published Spot information and insurance research. Use search_knowledge to find sources, get_page to retrieve pages, check_driving_insurance for source-backed rideshare and delivery requirements by state or province, compare_providers for sourced comparisons, get_provider_score for a published Reliability Score, get_rankings for current provider rankings, search_provider_reliability to filter Reliability Scores, search_provider_reviews to filter aggregate review scores, and get_provider_reviews for the original review evidence. The server is read-only and requires no authentication. [Human-readable page](https://spot.insure/compare/cfc-vs-gallagher/directors-officers) ## Agent Guide **What this page is:** Focused comparison of CFC and Gallagher 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 Gallagher. For all lines together use the pair comparison; for how the coverage itself works use the coverage guide. **Questions this page answers:** - CFC vs Gallagher for D&O Insurance: how do they differ? - Which is better for D&O Insurance, CFC or Gallagher? - What does CFC or Gallagher publish about D&O Insurance (limits, eligibility, claims, add-ons)? **Key facts:** - Line: D&O Insurance. Providers: CFC and Gallagher. - 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 Gallagher](https://spot.insure/compare/cfc-vs-gallagher) — 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 - [Gallagher profile](https://spot.insure/insurance-providers/gallagher) — provider profile # 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. If you're public, going public or based in California, CFC's D&O package declines you and Gallagher's IPO-focused brokerage is the one to call. ## CFC vs Gallagher D&O Insurance Summary 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](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://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") ## 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](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") 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](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") 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](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [2](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure") ### 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](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") CFC takes US claim notices by phone, email or online form and assigns one adjuster from notice to resolution. [4](https://www.cfc.com/en-us/claims/ "Claims") Neither publishes D&O limit amounts; CFC lists an extra limit for insured persons without saying how much. [2](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure") ## 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](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure") - Ask CFC for Side A DIC pricing and the amount of the extra insured-persons limit. [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") - Ask Gallagher which insurer it would place you with and how its claims attorneys work with that insurer. [5](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") - 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](https://www.cfc.com/en-us/support/regulatory-information/ "Regulatory information") ## CFC vs Gallagher D&O Insurance Compared | 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. [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..) | 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. [5](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Company-reported; scope: 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. [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..)

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..)

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..) | 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. [5](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Company-reported; scope: 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](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..) | 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. [5](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Company-reported; scope: 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. [4](https://www.cfc.com/en-us/claims/ "Claims") (Evidence: Company-reported; scope: 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. [5](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Company-reported; scope: Group-level executive-and-financial-risk practice summary; describes a support service, not a guarantee of claim payment..) | ## About CFC and Gallagher and D&O Insurance - [CFC company profile](https://spot.insure/insurance-providers/cfc) · [CFC customer reviews](https://spot.insure/insurance-providers/cfc/reviews) - [Gallagher company profile](https://spot.insure/insurance-providers/gallagher) · [Gallagher customer reviews](https://spot.insure/insurance-providers/gallagher/reviews) - [What Is Directors and Officers Insurance?](https://spot.insure/coverage/directors-officers) ## Related Pages for CFC vs Gallagher D&O Insurance - [CFC vs Gallagher](https://spot.insure/compare/cfc-vs-gallagher): 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) - [Gallagher D&O Insurance](https://spot.insure/insurance-providers/gallagher/directors-officers) ## Sources for CFC vs Gallagher 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 Gallagher 5. [Executive and Financial Risk Insurance](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/). Gallagher; Directors and Officers (D&O) Liability insurance section; Special-Purpose Acquisition Companies (SPACs) section; IPO and direct listings section; Executive and Financial Risk Practice Summary. 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-gallagher/directors-officers.md) - [Developer resources](https://spot.insure/developers) - [Public MCP server](https://spot.insure/mcp) - [MCP server manifest](https://spot.insure/server.json) - [OpenAPI description](https://spot.insure/openapi.json) - [Public page index](https://spot.insure/llms.txt)