Corgi vs 
Lockton: How Do They Compare for D&O Insurance?
Lockton arranges D&O programs with options for trustees and employees and provides specialist claims support; Corgi sells startup D&O online with example limits up to $1 million per claim and $2 million total.
Corgi lets startups apply online for a published D&O structure: $1 million per claim, $2 million aggregate and a $25,000 retention, with none on Side A. Lockton designs custom programs, extends cover to trustees, volunteers and spouses, and puts claims counsel on your broking team from the start. 1,2
What Are the Key Differences Between Corgi and Lockton D&O Insurance?
Off-the-Shelf Startup Policy vs a Designed Program
Corgi sells D&O standalone or inside stage-based packages from pre-seed and seed, and lists three optional add-ons: outside directorships, crisis PR costs, and investigation costs short of a formal claim. Lockton designs and places programs, citing emerging exposures like AI-related litigation and event-driven claims. Choose Corgi if you're a pre-seed to early-stage startup that needs a first policy with known limits; choose Lockton if you need more than $1 million of cover, are public or preparing to be, or want a tower designed around your board. 1 2
Coverage Details That Change What's Covered
Corgi's form excludes public securities offerings but keeps cover for Regulation D private placements, which is how most startups raise; it covers individuals who get a Wells Notice or subpoena but not regulatory investigations of the company itself. Lockton notes that for public companies, entity (Side C) cover is generally limited to securities claims, while private and nonprofit organizations get broader entity cover. Defense costs sit inside Corgi's limit, so legal bills reduce what's left for a settlement. 1 2
What Should You Confirm in Corgi and Lockton D&O Insurance Quotes?
- Corgi's policy is written by Technology Risk Retention Group, Inc., a risk retention group; ask how it compares with a traditional insurer on your investors' requirements. 1
- Ask Lockton which insurers it would approach and what limits it recommends; neither is published. 2
- Ask Corgi whether the entity-investigation exclusion leaves a gap for your sector. 1
- Ask Lockton which of trustees, volunteers, spouses and heirs the proposed form insures. 2
Corgi vs Lockton D&O Insurance Compared
Corgi vs Lockton: D&O Insurance: documented features by provider
| Criteria | Corgi Directors & Officers (D&O) | Lockton Directors & Officers (D&O) Insurance Brokerage |
|---|---|---|
| Coverage Features | The policy has three coverage parts: Side A pays individual directors and officers directly when the company cannot indemnify them and carries no retention; Side B reimburses the company when it does indemnify directors and officers; Side C covers the company entity itself, subject to additional exclusions including intellectual-property claims and contractual liability. 1Company-reported. Coverage summary for form CORG-DO-0100; the issued policy and declarations control. The standard policy excludes claims from registered public securities offerings, but a carve-back preserves coverage for exempt transactions such as Regulation D private placements, which Corgi says covers how most startups raise capital. 1Company-reported. Scenario notes for form CORG-DO-0100; not every fundraising structure automatically qualifies as exempt. Corgi covers individual directors and officers (Sides A and B) who receive a Wells Notice, subpoena or target letter from a regulator, but the standard policy excludes entity-level regulatory investigations of the company itself. 1Company-reported. Policy notes for form CORG-DO-0100; informal inquiries and document requests that don't rise to these triggers are not covered. | Lockton explains a traditional D&O program in three parts it says it can structure: Side A (direct coverage to individual directors/officers when the company can't indemnify them), Side B (reimbursing the company for indemnifying its D&Os), and Side C (entity coverage, generally limited to securities claims for public companies but broader for private and nonprofit organizations). 2Company-reported. D&O product page as read 2026-09-23. General educational description of program structure, not a specimen policy form. |
| Role in This Line | Corgi sells D&O as a standalone startup policy and also bundles it into its stage-based packages starting at pre-seed and seed, describing it as protection for directors and officers against personal financial liability for management decisions. 1Company-reported. Product page for form CORG-DO-0100, last reviewed by Corgi on April 24, 2026 per the page itself. | Lockton designs and places D&O programs rather than underwriting them, saying effective coverage requires market intelligence, coverage-design precision and staying ahead of emerging risks like AI-related litigation and event-driven claims. 2Company-reported. D&O product page as read 2026-09-23. |
