Cowbell vs Embroker D&O Insurance

Private Company D&O is one module within Cowbell's distribution of Zurich's Select Plus management liability product; Cowbell gives Zurich-appointed E&S wholesalers platform access, and Zurich underwrites the module. Zurich's own page labels this module 'Private Management and Company Liability' rather than plain 'D&O.' ^4,3Company-reported. Management liability page intro and module list; Zurich page module-name section.

Embroker sells D&O as a standalone policy and offers to package it with cyber and workers' compensation; it also says EPLI, D&O and related coverages are sometimes bundled into a management liability program. ⁸Company-reported. Product-page description; not a statement about the issuing insurer.

Cowbell and Zurich both say the Select Plus modules, including D&O, are offered on Zurich admitted paper. Zurich's site footer names 'Zurich American Insurance Company' in its copyright notice, but neither page states that entity is the specific policy issuer for this D&O module. ^4,3Company-reported. Management liability page intro; Zurich page intro and footer.

Not described in the reviewed sources.

Cowbell targets this D&O module at private companies with under 250 employees and under $50M in assets, in industries such as technology, construction, manufacturing, hospitality, and retail. ⁴Company-reported. FAQ 'What size accounts are targeted?' and Target industries list.

Embroker markets D&O to any private or public company with a board of directors, startups that have received or are about to receive venture capital funding, and nonprofit corporations, saying VC and private equity investors commonly require it before funding. ⁸Company-reported. Product-page eligibility and 'Why Do Startups Need D&O Insurance?' sections; not a guarantee of coverage for a particular company.

Cowbell describes D&O liability as protecting the personal assets of directors and officers and the company's financial assets against claims alleging wrongful acts in their capacity as directors and officers. ⁴Company-reported. FAQ 'What is the difference between management liability and D&O?'.

Embroker lists coverage for misuse of company funds, misrepresentation of company assets, breach of fiduciary duty, failure to comply with workplace laws and lack of corporate governance. ⁸Company-reported. Product-page What's covered section; the issued policy and declarations control.

Embroker says the policy excludes lawsuits between members of the same company, criminal or deliberately fraudulent activity, prior-knowledge claims, and claims against directors actively engaged in antitrust violations. ⁸Company-reported. Product-page What's not included section.

Embroker structures its D&O policy with three insuring agreements: Side A covers individual directors and officers when the company cannot indemnify them, Side B reimburses the company for indemnifying its leaders, and Side C covers the company itself when it is sued for financial mismanagement. ⁸Company-reported. Product-page 'What are Side A, B, and C insuring agreements?' section; specific policy structure, not a claim about every insurer's D&O form.

Neither the Cowbell page nor Zurich's own Select Plus page, both read in full, publishes D&O limit or retention amounts. ^4,3Not publicly disclosed. Cowbell page and Zurich page, both read on 2026-09-23.

For its startup package, Embroker publishes illustrative D&O/EPLI/fiduciary limit and retention ranges by funding stage, from roughly $1-2 million in limits with a $10-25k retention for companies raising up to $10 million, up to $8-10 million in limits with a $25-75k retention for companies raising $100-250 million. ⁸Company-reported. Product-page cost table for the Embroker Startup Package; actual limits, retentions and premiums depend on underwriting.

Cowbell frames D&O coverage as a way to help attract and retain directors and officers by giving them personal-asset protection, and says the product covers legal fees, settlements, and other defense costs for the company and its management. ⁴Company-reported. FAQ 'Why does my company need management liability coverage?'.

Not described in the reviewed sources.

This D&O module is accessed only by appointed Zurich E&S wholesalers through the Cowbell platform's API; it is not sold directly to businesses. ⁴Company-reported. FAQ 'How can I access the Zurich Select Plus management liability product through Cowbell?'.

Embroker offers an online quote for D&O coverage through its digital platform, describing underwriting factors including revenue, industry risk and claims history. ⁸Company-reported. Product-page 'Quick quotes' feature and cost-factor list; no quote was requested during this research.