Cowbell vs 
Marsh: How Do They Compare for Fiduciary Liability Insurance?
Cowbell distributes a Zurich-underwritten fiduciary module only through insurance brokers appointed by Zurich, not directly to businesses; Marsh places fiduciary coverage for retirement-plan sponsors and describes typical defense and settlement costs.
Cowbell limits Select Plus fiduciary to private firms under 250 employees and $50 million in assets; Marsh FINPRO places the line for retirement-plan sponsors and supports claims. 1,2,3,4
What Are the Key Differences Between Cowbell and Marsh Fiduciary Liability Insurance?
Product Platform Versus FINPRO Placement
Cowbell distributes fiduciary as one of four Zurich-underwritten Select Plus modules. Marsh’s FINPRO practice places the line for retirement-plan sponsors and fiduciaries; Marsh McLennan Agency also lists it among executive and professional coverages. 1 2 3 4
What a Typical Policy Is Said to Pay
Cowbell describes protection against fiduciary-duty claims tied to benefit plans. Marsh says a typical policy covers defense costs, damages, judgments, and settlements from a fiduciary’s breach of duty or from negligence, errors, or omissions in administering a plan, and that it does not cover contractual liability—so it cannot guarantee a plan’s duty to pay benefits due. 1 3
Account Profile
Cowbell’s published appetite is private companies with fewer than 250 employees and under $50 million in assets. Marsh says a typical policy insures the sponsor organization, the plans it operates, and fiduciaries who are directors, officers, or employees of the sponsor, without those size cutoffs. 1 3
Advice Around the Policy
Marsh says FINPRO helps spot red flags in fiduciary controls, builds programs from limit assessment through carrier selection, and assigns claims advocates from the outset. Cowbell’s reviewed pages mention Zurich Claims service for Select Plus generally and do not describe fiduciary-specific consulting. Access also differs: Cowbell is wholesaler-and-API only. 3 1 2
What Should You Confirm in Cowbell and Marsh Fiduciary Liability Insurance Quotes?
- Ask Marsh which carrier it would select and how limits were modeled; Cowbell’s issuer is Zurich, but neither side publishes limit figures. 3 2
- Confirm whether contractual benefit-payment obligations are excluded, as Marsh’s FAQ states for a typical form. 3
- Check whether you fit Cowbell’s private-company size band or need a Marsh placement outside that band. 1 3
- Ask how claims would be handled: Marsh names claims advocates; Cowbell points only to Zurich Claims service at the product level. 3 2
Cowbell vs Marsh Fiduciary Liability Insurance Compared
Cowbell vs Marsh: Fiduciary Liability Insurance: documented features by provider
| Criteria | Cowbell / Zurich Select Plus Fiduciary Liability | Marsh 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. | Marsh says a fiduciary liability policy typically insures the sponsor organization, the benefit plans it operates, and plan fiduciaries who are directors, officers or employees of the plan sponsor. 3Company-reported. Fiduciary liability page, Who is covered? FAQ. |
| 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?'. | Marsh says a fiduciary liability policy typically covers defense costs, damages, judgments and settlements from a fiduciary's breach of duty or from negligence, errors or omissions in administering a benefit plan, but does not cover contractual liability, so it cannot guarantee a plan's obligation to pay benefits due. 3Company-reported. Fiduciary liability page FAQs; illustrative policy description, not a specific policy form. |
| 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. | Marsh's FINPRO (financial and professional) practice places fiduciary liability insurance for retirement plan sponsors and fiduciaries; MMA also lists fiduciary coverage within its executive and professional liability practice. 3,4Company-reported. Marsh fiduciary liability page and MMA executive and professional liability page. |
