---
title: "CFC vs Travelers D&O Insurance"
description: "CFC’s D&O package declines US public and California-domiciled risks; Travelers underwrites D&O for private, public, financial-institution and nonprofit boards through independent agents."
canonical: "https://spot.insure/compare/cfc-vs-travelers/directors-officers"
page-type: "line-comparison"
updated-at: "2026-09-23"
---

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# CFC vs Travelers D&O Insurance

CFC’s D&O package declines US public and California-domiciled risks; Travelers underwrites D&O for private, public, financial-institution and nonprofit boards through independent agents.

## Research Scope and Use

Use this comparison to evaluate CFC and Travelers for D&O Insurance against the same documented criteria. It identifies differences and questions to confirm; it does not select a winner for a particular business. Offering claims are what each provider publishes about this line unless marked otherwise. “Not found” describes the evidence reviewed, not proof that a feature is unavailable. Confirm the insurer, policy wording, limits, retentions, exclusions and cost in an actual quote.

## Summary

CFC includes D&O inside its US Management Liability package and lists California-domiciled and US publicly traded companies among declined risks. Travelers underwrites D&O as part of Management & Professional Liability, names Travelers Casualty and Surety Company of America and affiliates in video disclosures, markets to private, public, financial-institution and nonprofit boards, and sells through independent agents. [5](https://www.cfc.com/en-us/products/class/management-liability/ "Management liability") [6](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure") [11](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance")

## What Is CFC Insurance?

CFC provides specialty insurance through an MGA model, with technology products for startups through multinational businesses. Its U.S. technology materials describe combined liability and cyber protection, while California eligibility requires product-specific confirmation. [1](https://www.cfc.com/en-us/company/ "About CFC") [2](https://www.cfc.com/en-us/products/industry/technology/ "Technology") [3](https://webcdn.cfc.com/media/ywdbvkpy/technology_product-brochure_us_0525_v2.pdf "Technology — United States product brochure") [4](https://www.cfc.com/en-us/support/regulatory-information/ "Regulatory information")

[CFC profile](https://spot.insure/insurance-providers/cfc)

## What Is Travelers Insurance?

Travelers is a U.S. property-casualty insurance group that markets business coverage, including a technology practice, through independent agents and brokers. Buyers can investigate CyberRisk Tech, a small-business technology-services policy, and other commercial lines, then confirm the issuing company and California availability on a quote. [8](https://www.travelers.com/business-insurance/technology "Technology Insurance") [9](https://www.travelers.com/about-travelers/producer-compensation-disclosure "Travelers Producer Compensation Disclosure (United States)") [10](https://www.travelers.com/contact-us "Contact Us")

[Travelers profile](https://spot.insure/insurance-providers/travelers)

## What Is Directors and Officers Insurance?

Directors and officers liability insurance addresses covered claims alleging wrongful acts in managing an organization. [12](https://www.thehartford.com/business-insurance/glossary-of-business-insurance-terms "Glossary of Business Insurance Terms")

## Key Differences in D&O Insurance

### Named Travelers Affiliates Versus an Unnamed US Issuer

Travelers underwrites D&O and names Travelers Casualty and Surety Company of America and its property casualty affiliates, noting the specific issuing entity can vary. CFC’s directors and officers cover sits in its US Management Liability package; its regulatory materials disclose CFC Underwriting Limited and Lloyd’s Syndicate 1988 but do not name the issuer of a given US D&O policy. [11](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") [5](https://www.cfc.com/en-us/products/class/management-liability/ "Management liability") [4](https://www.cfc.com/en-us/support/regulatory-information/ "Regulatory information")

On a Travelers quote you can ask which affiliate is on the declarations. On a CFC quote that name is not in the reviewed package materials. [11](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") [4](https://www.cfc.com/en-us/support/regulatory-information/ "Regulatory information")

### Who Each Will Write

Travelers markets D&O to private companies, public companies, financial institutions and nonprofit organizations with boards, and offers a version specifically for nonprofits. CFC lists US publicly traded companies and California-domiciled business among declined risks for the package that carries this D&O. [11](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") [6](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure")

A US-public, California-domiciled, financial-institution or nonprofit buyer may still be in Travelers’ described audience. A US-public or California-domiciled buyer may be outside CFC’s package. [11](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") [6](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure")

## What to Confirm in D&O Insurance Quotes

- Ask Travelers which affiliate would issue the policy and whether you are on the private, public, financial-institution or nonprofit form. [11](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance")
- Ask CFC whether US-public status or California domicile blocks the package. [6](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure")
- Do not treat Travelers’ $85,000-to-$1 million illustrations as quoted limits. [11](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance")
- Ask CFC for the additional insured-persons amount and Side A DIC. [6](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure") [5](https://www.cfc.com/en-us/products/class/management-liability/ "Management liability")

## Offering Details

| Criteria | CFC Directors & Officers Liability | Travelers Directors & Officers (D&O) Liability Insurance |
| --- | --- | --- |
| 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. [5](https://www.cfc.com/en-us/products/class/management-liability/ "Management liability") [6](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..) | Travelers underwrites D&O liability insurance as part of its Management & Professional Liability line, sold standalone or alongside other management liability coverages. [11](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") (Evidence: Company-reported; scope: Product page general framing; confirmed against the broader Management and Professional Liability Insurance page..) |
| Issuing Insurer | CFC's regulatory page discloses CFC Underwriting Limited's FCA authorization and CFC's Lloyd's Syndicate 1988, managed by Asta Managing Agency Ltd, but neither the regulatory page nor the management-liability brochure names the carrier or syndicate that would issue a given US D&O policy. [4](https://www.cfc.com/en-us/support/regulatory-information/ "Regulatory information") [6](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure") (Evidence: Not publicly disclosed; scope: Regulatory information page and brochure as read on 2026-09-23..) | The product page's video disclosures name Travelers Casualty and Surety Company of America and its property casualty affiliates; the specific issuing entity for a given policy can vary. [11](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") (Evidence: Company-reported; scope: Product page video legal footer..) |
| 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. [6](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..) | Travelers markets D&O coverage to private companies, public companies, financial institutions and nonprofit organizations with boards of directors, and offers a version specifically for nonprofit organizations. [11](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") (Evidence: Company-reported; scope: Product page "Who is D&O liability insurance right for?" section and nonprofit D&O video segment..) |
| 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. [6](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. [6](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. [5](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..) | Travelers says D&O insurance protects directors and officers from personal losses if sued by employees, vendors, customers or other parties, covering defense costs, settlements and other costs from wrongful-act allegations such as securities litigation, regulatory actions and breach-of-fiduciary-duty claims. [11](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") (Evidence: Company-reported; scope: Product page introduction and "Travelers knows Directors & Officers Liability Insurance" section; exact terms and exclusions are set by the issued policy..) |
| Limits and Retentions | The reviewed brochure does not publish a specific dollar limit, retention, or the size of the additional insured-persons limit for D&O. Those figures appear only on the quote and declarations. [6](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure") (Evidence: Not publicly disclosed; scope: Brochure as read on 2026-09-23..) | The reviewed page does not publish D&O limits, retentions or premiums; it references illustrative claim examples (settlements and defense costs from roughly $85,000 to over $1 million) as general risk context, not as policy terms. [11](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") (Evidence: Not found in reviewed sources; scope: Product page video claim scenarios as read on 2026-09-23..) |
| How to Apply | Not described in the reviewed sources. | D&O coverage is bought through a Travelers independent agent. [11](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") (Evidence: Company-reported; scope: Product page "Find an insurance agent" call to action..) |
| 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. [7](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..) | Not described in the reviewed sources. |

## Full Comparison

- [CFC vs Travelers](https://spot.insure/compare/cfc-vs-travelers): all coverage lines, business roles, service and claims.
- [What Is Directors and Officers Insurance?](https://spot.insure/coverage/directors-officers): Directors and officers insurance can help pay for covered claims against company leaders over decisions they make in running the business.
- [CFC vs Travelers Commercial Property Insurance](https://spot.insure/compare/cfc-vs-travelers/commercial-property)
- [CFC vs Travelers Crime Insurance](https://spot.insure/compare/cfc-vs-travelers/crime)
- [CFC vs Travelers Cyber Insurance](https://spot.insure/compare/cfc-vs-travelers/cyber)
- [CFC vs Travelers Employment Practices Liability Insurance](https://spot.insure/compare/cfc-vs-travelers/employment-practices)
- [CFC vs Travelers General Liability Insurance](https://spot.insure/compare/cfc-vs-travelers/general-liability)
- [CFC vs Travelers Kidnap and Ransom Insurance](https://spot.insure/compare/cfc-vs-travelers/kidnap-ransom)
- [CFC vs Travelers Management Liability Insurance](https://spot.insure/compare/cfc-vs-travelers/management-liability)
- [CFC vs Travelers Professional Liability (E&O) Insurance](https://spot.insure/compare/cfc-vs-travelers/professional-errors-omissions)
- [CFC vs Travelers Tech E&O Insurance](https://spot.insure/compare/cfc-vs-travelers/technology-errors-omissions)
- [CFC vs Travelers Umbrella and Excess Liability Insurance](https://spot.insure/compare/cfc-vs-travelers/umbrella-excess)
- [Alliance Risk vs CFC D&O Insurance](https://spot.insure/compare/alliance-risk-vs-cfc/directors-officers)
- [Alliance Risk vs Travelers D&O Insurance](https://spot.insure/compare/alliance-risk-vs-travelers/directors-officers)
- [Amelia Risk vs CFC D&O Insurance](https://spot.insure/compare/amelia-risk-vs-cfc/directors-officers)
- [Amelia Risk vs Travelers D&O Insurance](https://spot.insure/compare/amelia-risk-vs-travelers/directors-officers)
- [Beazley vs CFC D&O Insurance](https://spot.insure/compare/beazley-vs-cfc/directors-officers)
- [Beazley vs Travelers D&O Insurance](https://spot.insure/compare/beazley-vs-travelers/directors-officers)

## Sources

### CFC

1. [About CFC](https://www.cfc.com/en-us/company/). CFC; Matt Taylor biography: independent MGA and Syndicate 1988. Accessed 2026-09-16.
2. [Technology](https://www.cfc.com/en-us/products/industry/technology/). CFC; Introduction; Technology key features; Digitally traded. Accessed 2026-09-16.
3. [Technology — United States product brochure](https://webcdn.cfc.com/media/ywdbvkpy/technology_product-brochure_us_0525_v2.pdf). CFC; Page 1: coverage sections, including Products and services liability; Response app highlights; Limits and deductibles. Accessed 2026-09-16.
4. [Regulatory information](https://www.cfc.com/en-us/support/regulatory-information/). CFC; CFC Underwriting Limited; CFC Lloyd's Syndicate 1988. Accessed 2026-09-23.
5. [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.
6. [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.
7. [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.

### Travelers

8. [Technology Insurance](https://www.travelers.com/business-insurance/technology). Travelers; Technology insurance products we offer: CyberRisk Tech, Global Companion Plus+, general liability, commercial property, workers compensation, commercial auto, umbrella; startup-to-established-leader audience. Accessed 2026-09-16.
9. [Travelers Producer Compensation Disclosure (United States)](https://www.travelers.com/about-travelers/producer-compensation-disclosure). Travelers; Independent producers; seven compensation types; Simply Business, Inc. and InsuraMatch, LLC ownership; The Travelers Indemnity Company footer; Northfield Excess & Surplus Lines product list. Accessed 2026-09-16.
10. [Contact Us](https://www.travelers.com/contact-us). Travelers; Business insurance sold through independent agents; business claims 1.800.238.6225; MyTravelers for business features. Accessed 2026-09-16.
11. [Directors and Officers (D&O) Liability Insurance](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers). Travelers; What Is Directors & Officers Liability Insurance?; Who is D&O liability insurance right for?; video legal footer naming Travelers Casualty and Surety Company of America. Accessed 2026-09-23.

### D&O Insurance Guide

12. [Glossary of Business Insurance Terms](https://www.thehartford.com/business-insurance/glossary-of-business-insurance-terms). The Hartford; Directors and Officers Liability Insurance; Errors and Omissions Insurance; Employment Practices Liability Insurance. Accessed 2026-09-16.

Updated 2026-09-23. 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.

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