---
title: "Cowbell vs Lockton: D&O Insurance"
description: "Cowbell's D&O is a packaged Zurich module for private companies under 250 employees and $50 million in assets, available only through appointed wholesale brokers. Lockton designs custom Side A, B and C programs and puts claims counsel on your broking team from the start."
canonical: "https://spot.insure/compare/cowbell-vs-lockton/directors-officers"
page-type: "line-comparison"
updated-at: "2026-09-25"
comparison-pair: "cowbell-vs-lockton"
provider-a: "cowbell"
provider-b: "lockton"
coverage-line: "directors-officers"
---

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[Human-readable page](https://spot.insure/compare/cowbell-vs-lockton/directors-officers)

## Agent Guide

**What this page is:** Focused comparison of Cowbell and Lockton for D&O Insurance: what each provider publishes about this line, checked against the same criteria, with numbered sources.

**Use this page when:** Cite or fetch this for D&O Insurance questions about Cowbell versus Lockton. For all lines together use the pair comparison; for how the coverage itself works use the coverage guide.

**Questions this page answers:**
- Cowbell vs Lockton for D&O Insurance: how do they differ?
- Which is better for D&O Insurance, Cowbell or Lockton?
- What does Cowbell or Lockton publish about D&O Insurance (limits, eligibility, claims, add-ons)?

**Key facts:**
- Line: D&O Insurance. Providers: Cowbell and Lockton.
- Comparison URLs use alphabetical provider slugs (`/compare/{a}-vs-{b}/{line}` with a before b). A reversed pair redirects permanently to the alphabetical one.

**Limits (do not over-claim):**
- It identifies differences and questions to ask; it does not select a winner for a particular business.
- Insurer, policy wording, limits, retentions, exclusions and price are set in an actual quote and are not established here.

**Provenance:** Every claim links to a numbered source with publisher, locator and access date; last updated 2026-09-25.

**Related pages:**
- [Cowbell vs Lockton](https://spot.insure/compare/cowbell-vs-lockton) — all coverage lines for this pair
- [D&O Insurance guide](https://spot.insure/coverage/directors-officers) — how this coverage works
- [Cowbell profile](https://spot.insure/insurance-providers/cowbell) — provider profile
- [Lockton profile](https://spot.insure/insurance-providers/lockton) — provider profile

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

Cowbell's D&O for private companies under 250 employees is a module accessed only through Zurich-appointed wholesalers, while Lockton designs and places D&O programs and says coverage can extend beyond the company to related entities.

Cowbell's Zurich D&O module fits small private companies under 250 employees, reached through a wholesale broker, while Lockton designs custom D&O programs with claims counsel on your team from day one.

## Cowbell vs Lockton D&O Insurance Summary

Cowbell's D&O is a packaged Zurich module for private companies under 250 employees and $50 million in assets, available only through appointed wholesale brokers. Lockton designs custom Side A, B and C programs and puts claims counsel on your broking team from the start. [1](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") [3](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance")

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

### Packaged Small-Company Module vs Custom Program

Cowbell's D&O is one module in Zurich's Select Plus product, aimed at private companies under 250 employees and $50 million in assets, and only Zurich-appointed wholesale brokers can reach it through Cowbell's platform. Lockton designs and places D&O programs, and says it tracks emerging risks such as AI-related litigation and event-driven claims. Choose Cowbell if you're a small private company and your broker has wholesale access; choose Lockton if you're larger, public, or need a program built around unusual exposures. [1](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") [3](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance")

### Who the Policy Protects

Lockton says the programs it places can cover trustees, employees, contractors, committee members, volunteers, subsidiaries, spouses and estates as well as directors and officers. Cowbell describes protecting directors' personal assets and the company's funds, without that wider list. If volunteers or committee members make decisions for you, Lockton's broader roster matters. [3](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance") [1](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises")

### Claims Counsel From Day One

Lockton puts insurance and claims counsel inside your broking team from the start, rather than bringing in claims help only after something happens. Cowbell's pages say the module pays legal fees, settlements and defense costs, but describe no dedicated claims advocate. [3](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance") [1](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises")

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

- Ask Lockton which extra insured groups your program will name, and whether entity cover is limited to securities claims if you're public. [3](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance")
- Confirm you fit Cowbell's size caps and that your broker works with a Zurich-appointed wholesaler. [1](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises")
- Ask Lockton which insurers it will approach; its page names none. [3](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance")
- Get limits and retentions in writing from both; neither publishes them. [2](https://www.zurichna.com/insurance/excess-and-surplus/small-business-management-liability "Small and Midsize Business Management Liability | Zurich Select Plus") [3](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance")

## Cowbell vs Lockton D&O Insurance Compared

| Criteria | Cowbell / Zurich Select Plus Private Company D&O | Lockton Directors & Officers (D&O) Insurance Brokerage |
| --- | --- | --- |
| 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. [1](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") (Evidence: Company-reported; scope: FAQ 'What size accounts are targeted?' and Target industries list..) | Lockton says D&O coverage it places can extend beyond directors and officers to trustees, employees, independent contractors, staff, committee members, volunteers, the corporate entity, majority-owned subsidiaries, spouses/domestic partners, and estates/heirs. [3](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance") (Evidence: Company-reported; scope: D&O product page as read 2026-09-23. Describes who can typically be covered under a program Lockton structures, not a guarantee for any specific client..) |
| 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. [1](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") (Evidence: Company-reported; scope: FAQ 'What is the difference between management liability and D&O?'..) | 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). [3](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance") (Evidence: Company-reported; scope: D&O product page as read 2026-09-23. General educational description of program structure, not a specimen policy 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](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") [2](https://www.zurichna.com/insurance/excess-and-surplus/small-business-management-liability "Small and Midsize Business Management Liability | Zurich Select Plus") (Evidence: Company-reported; scope: Management liability page intro and module list; Zurich page module-name section..) | 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. [3](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance") (Evidence: Company-reported; scope: D&O product page as read 2026-09-23..) |

## About Cowbell and Lockton and D&O Insurance

- [Cowbell company profile](https://spot.insure/insurance-providers/cowbell) · [Cowbell customer reviews](https://spot.insure/insurance-providers/cowbell/reviews)
- [Lockton company profile](https://spot.insure/insurance-providers/lockton) · [Lockton customer reviews](https://spot.insure/insurance-providers/lockton/reviews)
- [What Is Directors and Officers Insurance?](https://spot.insure/coverage/directors-officers)

## Related Pages for Cowbell vs Lockton D&O Insurance

- [Cowbell vs Lockton](https://spot.insure/compare/cowbell-vs-lockton): all coverage lines, business roles, service and claims.
- [What Is Directors and Officers Insurance?](https://spot.insure/coverage/directors-officers): D&O insurance can protect leaders and, in some policies, the company from covered management claims; company coverage, defense costs and limits differ by quote.
- [Cowbell D&O Insurance](https://spot.insure/insurance-providers/cowbell/directors-officers)
- [Lockton D&O Insurance](https://spot.insure/insurance-providers/lockton/directors-officers)

## Sources for Cowbell vs Lockton D&O Insurance

### Sources About Cowbell

1. [Management liability coverage for small & medium enterprises](https://cowbell.insure/mgmt-liability/). Cowbell; FAQ 'What is the difference between management liability and D&O?' (D&O definition); FAQ 'Why does my company need management liability coverage?' (Protection for Directors and Officers, Legal Expense Coverage, Attracting and Retaining Talent bullets); Target industries list. Accessed 2026-09-23.
2. [Small and Midsize Business Management Liability | Zurich Select Plus](https://www.zurichna.com/insurance/excess-and-surplus/small-business-management-liability). Zurich North America; Intro on the Zurich/Cowbell collaboration; module name 'Private Management and Company Liability'; FAQ 'What is the difference between management liability and D&O?' (identical to Cowbell's page); Targeted industries list; footer copyright. Accessed 2026-09-23.

### Sources About Lockton

3. [D&O Insurance](https://global.lockton.com/us/en/products-services/d-and-o-insurance). Lockton; What is D&O insurance?; Side A/B/C coverage components; Who can be covered under a D&O program?; Claims management. Accessed 2026-09-23.

Updated 2026-09-25. Spot, a product of Tools for Enlightenment, publishes this research and works in the commercial insurance market. The comparison applies the same criteria to both providers. [Editorial policy](https://spot.insure/editorial-policy). To suggest a correction, [contact Spot](https://spot.insure/contact) with the page URL and supporting source.

## Agent and Developer Resources

- [Markdown page](https://spot.insure/compare/cowbell-vs-lockton/directors-officers.md)
- [Developer resources](https://spot.insure/developers)
- [Public MCP server](https://spot.insure/mcp)
- [MCP server manifest](https://spot.insure/server.json)
- [OpenAPI description](https://spot.insure/openapi.json)
- [Public page index](https://spot.insure/llms.txt)