Chubb vs Gallagher: How Do They Compare for D&O Insurance?

Gallagher places D&O and has claims advocacy for IPO and blank-check merger programs; Chubb insures D&O directly for smaller private companies and lists specific limits within the policy.

Chubb sells a ready-made D&O form, ForeFront Portfolio 3.0, for smaller private companies, with a guaranteed IPO quotation built in. Gallagher is a broker that designs D&O programs for SPACs and companies going public, backed by in-house claims attorneys. ^1,^2,³

What Are the Key Differences Between Chubb and Gallagher D&O Insurance?

Ready-Made Small-Company Form vs Custom Program for Going Public

Chubb writes D&O and Entity Liability on ForeFront Portfolio 3.0 for smaller privately held companies, with separate versions for not-for-profits and healthcare. Your agent quotes it through Chubb Marketplace. ¹ ² Gallagher's Executive and Financial Risk practice doesn't issue policies; it picks carriers using performance data and your insurer history, and targets SPACs around IPO and de-SPAC and companies listing through an IPO or direct listing. ³ Choose Chubb if you are a smaller private company that wants a standard form quoted quickly through your agent; choose Gallagher if you are a SPAC or preparing to go public and need D&O built alongside reps and warranties, E&O, cyber and tax cover.

What the Chubb Form Already Includes

Chubb's smaller-private form covers private placements and failed IPOs, guarantees an IPO quotation, sets a $500,000 sublimit for costs of evaluating security-holder derivative demands, and offers an optional extra $500,000 Side A limit for individuals. ¹ Gallagher publishes no D&O limits or retentions. ³

Claims Help and Benchmarking

Gallagher has a dedicated claims-advocacy team with in-house attorneys and benchmarks programs, including how often peers buy Side-A-only D&O. That helps you size a tower and fight a denied claim. ³

What Should You Confirm in Chubb and Gallagher D&O Insurance Quotes?

Ask Gallagher which carrier is quoting and whether Side-A-only capacity is in the design. ³
If you are going public, ask Gallagher how it structures D&O before and after the listing. ³
Check whether Chubb's $500,000 derivative-demand sublimit and optional $500,000 Side A limit are enough for your board. ¹
Confirm a Chubb quote is on the smaller-private ForeFront version, not the not-for-profit or healthcare one. ¹ ²

Chubb vs Gallagher D&O Insurance Compared

Chubb vs Gallagher: D&O Insurance: documented features by provider

Criteria	Chubb ForeFront Portfolio 3.0 Directors & Officers and Entity Liability Insurance	Gallagher Directors and Officers (D&O) Liability Insurance
Who It’s For	Chubb aims this D&O product at smaller private companies and offers separate versions for not-for-profit and healthcare organizations in its ForeFront Portfolio. ^1,²Company-reported. ForeFront Portfolio 3.0 D&O page opening description; ForeFront Portfolio page coverage list.	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. ³Company-reported. Group-level executive-and-financial-risk practice page, SPAC and IPO subsections.
Coverage Features	Chubb lists a broad definition of Insured covering the parent organization, subsidiaries, directors or officers (including foreign equivalents), advisory board members and volunteers worldwide; automatic not-for-profit outside-directorship coverage; a broad definition of Claim including written demands, civil and criminal proceedings, and extradition requests; and civil fines and penalties coverage where insurable, including FCPA civil penalties. ¹Company-reported. Coverage Highlights list; subject to the policy as issued. Chubb says the policy uses a streamlined insured-versus-insured exclusion with exceptions (including financial impairment, former executives after one year, and whistleblower and employment claims) and conduct exclusions that require final non-appealable adjudication before they apply. ¹Company-reported. Coverage Highlights list, exclusion-related bullets. Chubb says the policy provides private-placement and failed-IPO coverage, a full Side A carve-back to the pollution exclusion, and a guaranteed IPO quotation including coverage for road-show presentations. ¹Company-reported. Coverage Highlights list.	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. ³Company-reported. Group-level executive-and-financial-risk practice page; a service description, not a specific policy's insuring agreement.
Role in This Line	Chubb underwrites D&O and Entity Liability directly through ForeFront Portfolio 3.0, describing this specific version as designed for directors and officers of smaller, privately held companies. ¹Company-reported. ForeFront Portfolio 3.0 D&O and Entity Liability product page.	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. ³Company-reported. Group-level executive-and-financial-risk practice page.

Criteria

Chubb ForeFront Portfolio 3.0 Directors & Officers and Entity Liability Insurance

Gallagher Directors and Officers (D&O) Liability Insurance

Who It’s For

Chubb aims this D&O product at smaller private companies and offers separate versions for not-for-profit and healthcare organizations in its ForeFront Portfolio. ^1,²Company-reported. ForeFront Portfolio 3.0 D&O page opening description; ForeFront Portfolio page coverage list.

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. ³Company-reported. Group-level executive-and-financial-risk practice page, SPAC and IPO subsections.

Coverage Features

Chubb lists a broad definition of Insured covering the parent organization, subsidiaries, directors or officers (including foreign equivalents), advisory board members and volunteers worldwide; automatic not-for-profit outside-directorship coverage; a broad definition of Claim including written demands, civil and criminal proceedings, and extradition requests; and civil fines and penalties coverage where insurable, including FCPA civil penalties. ¹Company-reported. Coverage Highlights list; subject to the policy as issued.

Chubb says the policy uses a streamlined insured-versus-insured exclusion with exceptions (including financial impairment, former executives after one year, and whistleblower and employment claims) and conduct exclusions that require final non-appealable adjudication before they apply. ¹Company-reported. Coverage Highlights list, exclusion-related bullets.

Chubb says the policy provides private-placement and failed-IPO coverage, a full Side A carve-back to the pollution exclusion, and a guaranteed IPO quotation including coverage for road-show presentations. ¹Company-reported. Coverage Highlights list.

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. ³Company-reported. Group-level executive-and-financial-risk practice page; a service description, not a specific policy's insuring agreement.

Role in This Line

Chubb underwrites D&O and Entity Liability directly through ForeFront Portfolio 3.0, describing this specific version as designed for directors and officers of smaller, privately held companies. ¹Company-reported. ForeFront Portfolio 3.0 D&O and Entity Liability product page.

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. ³Company-reported. Group-level executive-and-financial-risk practice page.