Cowbell vs Embroker: How Do They Compare for D&O Insurance?

Cowbell's D&O for private companies under 250 employees is a module available only through Zurich-appointed wholesalers, while Embroker sells D&O as a standalone policy with an online quote for startups and other companies.

Embroker quotes D&O online and publishes limits by funding stage, from $1–2 million for raises up to $10 million to $8–10 million for $100–250 million raises. Cowbell's D&O is for private companies under 250 employees and reachable only through appointed wholesale brokers. ^1,^2,³

What Are the Key Differences Between Cowbell and Embroker D&O Insurance?

Quote Online Yourself vs Only Through a Wholesaler

Embroker quotes D&O on its own platform, underwriting on your revenue, industry risk and claims history. It markets to private and public companies with boards, startups with or about to get venture capital, and nonprofits. ³ You can't reach Cowbell's D&O yourself: appointed Zurich wholesale brokers access it through Cowbell's API. It targets private companies under 250 employees and $50 million in assets in industries such as technology, construction, manufacturing, hospitality and retail. ¹ Choose Embroker if you are a venture-backed startup that wants to see limits and quote online; choose Cowbell if you are a small private business in construction, manufacturing, hospitality or retail and your broker has wholesale access.

Retentions by Funding Stage vs Nothing Published

Embroker's startup package pairs its limit bands with retentions from about $10–25k at the smallest raises to $25–75k at the largest; the bands combine D&O, EPLI and fiduciary. ³ Neither Cowbell nor Zurich's Select Plus page publishes D&O limits or retentions, so you see them only after a wholesaler submits you. ¹ ²

What Should You Confirm in Cowbell and Embroker D&O Insurance Quotes?

Ask your broker whether it is an appointed Zurich wholesaler that can reach Cowbell's module. ¹
Ask Embroker whether D&O shares one aggregate limit with EPLI and fiduciary. ³
Ask which Zurich company issues the Cowbell module; it is written on an admitted basis but the issuer isn't named. ²
Check that Embroker's Side A, B and C cover and listed exclusions match the specimen form you're offered. ³

Cowbell vs Embroker D&O Insurance Compared

Cowbell vs Embroker: D&O Insurance: documented features by provider

Criteria	Cowbell / Zurich Select Plus Private Company D&O	Embroker Directors and Officers Insurance
Who It’s For	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. ¹Company-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. ³Company-reported. Product-page eligibility and 'Why Do Startups Need D&O Insurance?' sections; not a guarantee of coverage for a particular company.
How to Apply	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. ¹Company-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. ³Company-reported. Product-page 'Quick quotes' feature and cost-factor list; no quote was requested during this research.
Coverage Features	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. ¹Company-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. ³Company-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. ³Company-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. ³Company-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.
Role in This Line	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.' ^1,²Company-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. ³Company-reported. Product-page description; not a statement about the issuing insurer.