Cowbell vs 
Markel Insurance: How Do They Compare for Fiduciary Liability Insurance?
What Is Cowbell Insurance?
Cowbell suits small and midsize businesses seeking cyber options by company size, with technology E&O and Zurich management-liability options also available; firms needing broad commercial coverage should compare a full-service broker. Some security services cost extra. 1,2,3
Markel Insurance: Specialty Business and Products
Markel Insurance is Markel Group's specialty and small-business insurance business, with offerings across packages, workers' compensation, cyber, professional and management liability, property, marine, and surety. Products use different insurers and distribution routes, so compare the issuer and terms shown on the specific quote. 5,6
What Is Fiduciary Liability Insurance?
Fiduciary liability can protect your company and plan fiduciaries when participants claim mishandling of an employee benefit plan. If you sponsor a retirement or health plan, check who is insured and whether both administration errors and fiduciary-breach claims are addressed. 8,9,10
Key Differences in Fiduciary Liability Insurance
Eligibility and Distribution Access
Cowbell’s fiduciary module targets private companies with fewer than 250 employees and under $50 million in assets, and the record says appointed Zurich E&S wholesalers access it through Cowbell’s platform API; it is not sold directly to businesses. Markel identifies private companies, nonprofits and individuals managing benefit plans without publishing comparable numeric thresholds or a channel restriction in its reviewed claim. A smaller private company that fits Cowbell’s limits still needs an eligible wholesaler; nonprofits and larger organizations should ask Markel which classes can be quoted. 4 7
Module Structure and Insurer
Cowbell describes fiduciary as one module in Zurich’s Select Plus management-liability product, with Zurich underwriting the module; the reviewed record says the specific issuing entity is not established. Markel’s description treats fiduciary liability as a listed offering and names claims involving plan mismanagement and administration errors, without providing a comparable modular structure in the source claim. Buyers should establish whether fiduciary limits share an aggregate with other modules and compare the declarations and policy wording rather than relying on platform labels. 3 7
What to Confirm in Fiduciary Liability Insurance Quotes
- Does your employee count and asset level fit Cowbell’s thresholds, and what eligibility limits apply through Markel? 4 7
- Which appointed wholesaler can access Cowbell, and what insurer appears on the issued declarations? 4 7
- Are fiduciary limits separate from D&O and EPL modules, and which plan-management claims are covered? 3 7
Review Scores
These averages can combine ratings for different products, locations, and customer groups, including approximate BBB grade conversions. Read each review for the sources, scope, and calculation.
Cowbell
Review Score
1 rated source
Cowbell has one public rating we could find: 1.0 out of 5 on SourceForge from three reviews in 2023. That's too few and too old to say much.[8]
Read Cowbell reviewsMarkel Insurance
Review Score
2 rated sources
There is little public customer feedback on Markel. Trustpilot shows 2.5 out of 5 from just 5 reviews, and BBB lists 12 complaints closed in the last three years.[4][3]
Read Markel Insurance reviewsOffering Details
Cowbell vs Markel Insurance: Fiduciary Liability Insurance: documented features by provider
| Criteria | Cowbell / Zurich Select Plus Fiduciary Liability | Markel fiduciary liability |
|---|---|---|
| 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. 4,3Company-reported. Management liability page intro and module list; Zurich page module-name section. | Markel lists fiduciary liability for private companies, nonprofits and individuals managing employee benefit plans. 7Company-reported. U.S. private/nonprofit product page; not a fidelity bond. |
| Issuing Insurer | Cowbell and Zurich both say the Select Plus modules, including fiduciary liability, are written 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 module. 4,3Company-reported. Management liability page intro; Zurich page intro and footer. | Confirm in your quote. |
| 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. 4Company-reported. FAQ 'What size accounts are targeted?' and Target industries list. | The page identifies private companies and not-for-profits and employee-plan fiduciaries as intended audiences; exact class and plan eligibility is not stated universally. 7Company-reported. Published audience description only. |
| 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. 4Company-reported. FAQ 'What is the difference between management liability and D&O?'. | Markel describes claims involving benefit-plan mismanagement, administrative errors or breach of fiduciary duty, with potential defense costs, settlements and judgments subject to policy wording. 7Company-reported. Illustrative page description; policy terms control. |
| Limits and Retentions | Neither the Cowbell page nor Zurich's own Select Plus page, both read in full, publishes fiduciary-liability limit or retention amounts. 4,3Not publicly disclosed. Cowbell page and Zurich page, both read on 2026-09-23. | Confirm in your quote. |
| Risk Services | Both Cowbell and Zurich describe the Select Plus product generally as backed by 'the reputable Zurich Claims service'; neither reviewed page describes a fiduciary-specific service such as plan-compliance consulting. 4,3Not publicly disclosed. Management liability page intro; Zurich page intro, both read on 2026-09-23. | Confirm in your quote. |
| 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. 4Company-reported. FAQ 'How can I access the Zurich Select Plus management liability product through Cowbell?'. | Confirm in your quote. |
Full Comparison
More Cowbell vs Markel Insurance Comparisons
Other Fiduciary Liability Insurance Comparisons
Sources
Cowbell
- Cowbell. Cowbell; What We Do; Assess, Insure, Respond and Improve; U.S. navigation; footer legal disclosure. Accessed 2026-09-15.
- Prime Tech Product Overview. Cowbell; PDF pp. 1–4: non-admitted combined Technology E&O and cyber for technology businesses up to $1 billion; up to $5 million; surplus lines in 50 states; edition PRIME TECH US0001 1025. Accessed 2026-09-16.
- Small and Midsize Business Management Liability | Zurich Select Plus. Zurich North America; Intro on the Zurich/Cowbell collaboration; module name 'Fiduciary 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.
- Management liability coverage for small & medium enterprises. Cowbell; FAQ 'What is the difference between management liability and D&O?' (Fiduciary Liability definition); Target industries list; FAQ on access and account size. Accessed 2026-09-23.
Markel Insurance
- About us. Markel; Markel at a glance; description of Markel Insurance within Markel Group Inc. Accessed 2026-09-28.
- Markel Group Inc. 2025 Form 10-K. U.S. Securities and Exchange Commission; filed by Markel Group Inc.; Cover page; Part I, Item 1 Business—Markel Insurance, U.S. Wholesale and Specialty, Programs and Solutions; Part II, Item 7/8 for group and segment risks. Accessed 2026-09-28.
- Private and Nonprofit Management Liability Insurance. Markel; What we offer; private/nonprofit segment; D&O, EPL, fiduciary and optional coverage sections. Accessed 2026-09-29.
Fiduciary Liability Insurance Guide
- Field Assistance Bulletin No. 2008-04: Guidance Regarding ERISA Fidelity Bonding Requirements. U.S. Department of Labor, Employee Benefits Security Administration; Q2 pp.2–3. Accessed 2026-09-16.
- Fiduciary Liability. Travelers Casualty and Surety Company of America; II.D,J–L pp.2–3; II.A p.1; II.V p.5; Header p.1; II.M p.3; I p.1; III.A.6–8 pp.5–6; II.M.2 p.3; III.B.1 p.6. Accessed 2026-09-16.
- Fiduciary Liability Insurance. Travelers; What Is Fiduciary Liability Insurance? Accessed 2026-09-16.
