Cowbell vs Embroker: How Do They Compare for Fiduciary Liability Insurance?

Cowbell distributes Zurich-underwritten fiduciary coverage to eligible private companies only through insurance brokers appointed by Zurich, not directly to businesses; Embroker sells a standalone policy through an online application and publishes limits and exclusions.

Cowbell’s Zurich Select Plus module targets private firms under 250 employees and $50 million in assets through appointed wholesalers; Embroker offers online quotes up to $20 million with $500–$2,500 typical annual premiums. ^1,³

What Are the Key Differences Between Cowbell and Embroker Fiduciary Liability Insurance?

Wholesaler API Versus Online Quote

Cowbell’s fiduciary module is accessed by appointed Zurich wholesalers through the Cowbell platform API. Embroker offers an online fiduciary quote, giving eligible buyers a direct digital starting point. ¹ ³

Size Rules Versus Benefit-Plan Test

Cowbell targets private companies with under 250 employees and under $50 million in assets. Embroker targets companies that provide medical, dental, vision or other benefits, or retirement plans or stock options, and says very small businesses without benefit plans generally do not need the coverage. ¹ ³

Limits You Can Read

Neither Cowbell nor Zurich’s Select Plus page publishes fiduciary limits. Embroker says policies can cover as much as $20 million and that premiums typically range from $500 to $2,500 per year, driven mainly by plan assets, the chosen limit, and service-provider quality. ¹ ² ³

Paper and Exclusions

Cowbell and Zurich say Select Plus modules, including fiduciary, are written on Zurich admitted paper. Embroker’s reviewed page does not name an issuer; it lists exclusions for embezzlement, outside advisors hired to manage plans, and failure to fund a plan in accordance with ERISA. ¹ ³

What Should You Confirm in Cowbell and Embroker Fiduciary Liability Insurance Quotes?

Confirm you can reach a Zurich E&S wholesaler before treating Cowbell as available. ¹
Match plan assets to Embroker’s $20 million upper figure and to Cowbell’s unpublished Select Plus limit. ³ ¹
Check Cowbell’s 250-employee and $50 million asset caps against your actual size. ¹
Ask Embroker whether late contributions would hit the failure-to-fund exclusion. ³

Cowbell vs Embroker Fiduciary Liability Insurance Compared

Cowbell vs Embroker: Fiduciary Liability Insurance: documented features by provider

Criteria	Cowbell / Zurich Select Plus Fiduciary Liability	Embroker Fiduciary Liability Insurance
Who It’s For	Cowbell targets this fiduciary module at private companies with under 250 employees and under $50M in assets, across the same target industries listed for the broader Select Plus product, such as manufacturing and technology. ¹Company-reported. FAQ 'What size accounts are targeted?' and Target industries list.	Embroker targets companies that provide medical, dental, vision or other benefits, or that offer retirement plans or stock options, and says very small businesses without benefit plans generally don't need the coverage. ³Company-reported. Product-page eligibility description; not a guarantee of coverage for a particular business.
How to Apply	This fiduciary 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 fiduciary liability through its digital platform. ³Company-reported. Product-page 'Quick quotes' feature description; no quote was requested during this research.
Coverage Features	Cowbell describes fiduciary liability as protecting against claims arising from breaches of fiduciary duties related to employee benefit plans, such as a company's 401(k) or health plan. ¹Company-reported. FAQ 'What is the difference between management liability and D&O?'.	Embroker lists coverage for errors and omissions in administering benefit plans and imprudent selection of investments or third-party service providers, and says most newly created or acquired plans get automatic coverage. ³Company-reported. Product-page What's covered section; the issued policy and declarations control. Embroker says the policy excludes criminal activity such as embezzlement, outside advisors or administrators hired to manage the benefit plans, and failure to fund a plan in accordance with ERISA. ³Company-reported. Product-page What's not included section.
Role in This Line	Fiduciary liability is one module within Cowbell's distribution of Zurich's Select Plus management liability product; Cowbell operates the platform, Zurich underwrites the module. Zurich's own page lists 'Fiduciary Liability' as one of the four modules a buyer can combine. ^1,²Company-reported. Management liability page intro and module list; Zurich page module-name section.	Embroker sells fiduciary liability as a standalone policy and says it is most commonly bundled with directors and officers and employment practices liability coverage. ³Company-reported. Product-page description; not a statement about the issuing insurer.