Cowbell vs Founder Shield 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.

Founder Shield is a retail insurance brokerage, described on its site as “the innovation arm of The Baldwin Group,” and places Founder Shield Directors & Officers Insurance with third-party carriers rather than underwriting the policy itself. ¹¹Company-reported. About-us page; applies to Founder Shield's brokerage model generally, restated here for this line.

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.

Founder Shield says it places policies, including Founder Shield Directors & Officers Insurance, only with carriers rated A- or better by AM Best, chosen for the client's industry. It does not name the issuing insurer for this line; that depends on which carrier the policy is placed with. ⁷Company-reported. General carrier-selection FAQ, not specific to this line's placements.

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.

Founder Shield targets D&O at public and private businesses, venture-backed companies (it says almost every institutional term sheet requires the coverage), and businesses owing more than $1 million to creditors. ¹⁰Company-reported. Directors & Officers Insurance product page.

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?'.

Founder Shield describes a three-part structure: Side A pays individual directors/officers directly when the company cannot or will not indemnify them, Side B reimburses the company for indemnification it pays, and Side C provides entity coverage for the company itself. ¹⁰Company-reported. Product page; the issued policy and declarations control actual coverage.

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.

Founder Shield's page describes a typical market base layer of $5 million to $10 million in combined A-B-C coverage, but does not publish a specific limit Founder Shield itself offers; actual limits are set on the quote. ¹⁰Company-reported. General market description on the product page, not a stated Founder Shield minimum or maximum.

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?'.

You request Founder Shield Directors & Officers Insurance through Founder Shield's website or an insurance advisor rather than binding coverage directly; Founder Shield says its placement team then approaches carriers on the client's behalf. ^11,7Company-reported. About-us and carrier-selection pages describe the general placement process, not a line-specific application form.