---
title: "CFC vs Travelers: D&O Insurance"
description: "Travelers writes D&O for private, public, financial-institution and nonprofit boards, with a dedicated nonprofit version; CFC's D&O comes only inside a management-liability package that declines US public and California-domiciled companies."
canonical: "https://spot.insure/compare/cfc-vs-travelers/directors-officers"
page-type: "line-comparison"
updated-at: "2026-09-29"
comparison-pair: "cfc-vs-travelers"
provider-a: "cfc"
provider-b: "travelers"
coverage-line: "directors-officers"
---

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

## Agent Guide

**What this page is:** Focused comparison of CFC and Travelers 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 Travelers. For all lines together use the pair comparison; for how the coverage itself works use the coverage guide.

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

**Key facts:**
- Line: D&O Insurance. Providers: CFC and Travelers.
- 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 Travelers](https://spot.insure/compare/cfc-vs-travelers) — 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
- [Travelers profile](https://spot.insure/insurance-providers/travelers) — provider profile

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

Travelers insures D&O for private, public, nonprofit, and financial organizations through independent agents; CFC includes it in a US management-liability package and separately offers Side A DIC excess cover.

Travelers writes D&O for public companies, financial institutions and nonprofits through independent agents; CFC's D&O package turns away public and California-domiciled companies.

## CFC vs Travelers D&O Insurance Summary

Travelers writes D&O for private, public, financial-institution and nonprofit boards, with a dedicated nonprofit version; CFC's D&O comes only inside a management-liability package that declines US public and California-domiciled companies. [5](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") [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")

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

### Broad Appetite Through Local Agents vs a Narrower Package

You buy Travelers D&O through an independent agent, standalone or with other management-liability coverage. CFC's D&O is one part of its US Management Liability package, with an extra limit for insured persons and an excess Side A DIC policy available on top. Choose Travelers if you're a public company, bank or financial institution, nonprofit, or California-domiciled business; choose CFC if you're a private company outside California that wants D&O packaged with other management cover. [5](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") [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")

### What Claims Can Cost

Travelers' claim examples run from roughly $85,000 to over $1 million in settlements and defense costs, a useful yardstick when you pick a limit, though neither insurer publishes limits or premiums. [5](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") [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 Travelers D&O Insurance Quotes?

- Ask your Travelers agent whether you're on the private, public, financial-institution or nonprofit form, and which Travelers company issues it. [5](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance")
- Ask CFC how large the additional insured-persons limit is and whether Side A DIC is worth adding. [2](https://webcdn.cfc.com/media/0ttjwk3e/management-liablity_product-brochure_us_0126.pdf "Management liability — United States product brochure") [1](https://www.cfc.com/en-us/products/class/management-liability/ "Management liability")
- Ask CFC which insurer or Lloyd's syndicate issues a US D&O policy; its materials don't say. [3](https://www.cfc.com/en-us/support/regulatory-information/ "Regulatory information")

## CFC vs Travelers D&O Insurance Compared

| Criteria | CFC Directors & Officers Liability | Travelers Directors & 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..) | 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. [5](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. [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..) | 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. [5](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..) |
| 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..) | Travelers underwrites D&O liability insurance as part of its Management & Professional Liability line, sold standalone or alongside other management liability coverages. [5](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..) |

## About CFC and Travelers and D&O Insurance

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

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

- [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): 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)
- [Travelers D&O Insurance](https://spot.insure/insurance-providers/travelers/directors-officers)

## Sources for CFC vs Travelers 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 Travelers

5. [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.

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.

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