---
title: "Cowbell vs Travelers D&O Insurance"
description: "Cowbell’s D&O is Zurich Select Plus via E&S wholesalers; Travelers underwrites D&O and sells it through independent agents, including a nonprofit version."
canonical: "https://spot.insure/compare/cowbell-vs-travelers/directors-officers"
page-type: "line-comparison"
updated-at: "2026-09-23"
---

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# Cowbell vs Travelers D&O Insurance

Cowbell’s D&O is Zurich Select Plus via E&S wholesalers; Travelers underwrites D&O and sells it through independent agents, including a nonprofit version.

## Research Scope and Use

Use this comparison to evaluate Cowbell and Travelers for D&O Insurance against the same documented criteria. It identifies differences and questions to confirm; it does not select a winner for a particular business. Offering claims are what each provider publishes about this line unless marked otherwise. “Not found” describes the evidence reviewed, not proof that a feature is unavailable. Confirm the insurer, policy wording, limits, retentions, exclusions and cost in an actual quote.

## Summary

Cowbell distributes Zurich’s admitted Select Plus private-company D&O module only to appointed E&S wholesalers. Travelers underwrites D&O as part of Management & Professional Liability, sold through independent agents, and markets a version specifically for nonprofit organizations. [4](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") [3](https://www.zurichna.com/insurance/excess-and-surplus/small-business-management-liability "Small and Midsize Business Management Liability | Zurich Select Plus") [8](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance")

## What Is Cowbell Insurance?

Cowbell is a specialty-insurance platform and agency focused on cyber risk for small and midsize businesses. Its U.S. catalogue also includes combined Technology E&O and cyber products and a Zurich management-liability offering distributed through appointed wholesalers. [1](https://cowbell.insure/ "Cowbell") [2](https://cowbell.insure/wp-content/uploads/pdfs/CB-US-PrimeTech-Overview-1.pdf "Prime Tech Product Overview") [3](https://www.zurichna.com/insurance/excess-and-surplus/small-business-management-liability "Small and Midsize Business Management Liability | Zurich Select Plus")

[Cowbell profile](https://spot.insure/insurance-providers/cowbell)

## What Is Travelers Insurance?

Travelers is a U.S. property-casualty insurance group that markets business coverage, including a technology practice, through independent agents and brokers. Buyers can investigate CyberRisk Tech, a small-business technology-services policy, and other commercial lines, then confirm the issuing company and California availability on a quote. [5](https://www.travelers.com/business-insurance/technology "Technology Insurance") [6](https://www.travelers.com/about-travelers/producer-compensation-disclosure "Travelers Producer Compensation Disclosure (United States)") [7](https://www.travelers.com/contact-us "Contact Us")

[Travelers profile](https://spot.insure/insurance-providers/travelers)

## What Is Directors and Officers Insurance?

Directors and officers liability insurance addresses covered claims alleging wrongful acts in managing an organization. [9](https://www.thehartford.com/business-insurance/glossary-of-business-insurance-terms "Glossary of Business Insurance Terms")

## Key Differences in D&O Insurance

### Two Carriers, Two Distribution Paths

Cowbell’s D&O is a Zurich-underwritten Select Plus module reached only by appointed E&S wholesalers through Cowbell’s API. Travelers underwrites D&O liability insurance as part of its Management & Professional Liability line and sells it through a Travelers independent agent, standalone or alongside other management liability coverages. You buy Travelers through an appointed agent; you do not buy Cowbell’s module as a retail customer. [4](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") [8](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance")

### Nonprofit Form Versus Private SME Target

Travelers markets D&O to private companies, public companies, financial institutions and nonprofit organizations with boards, and offers a version specifically for nonprofit organizations. Cowbell aims its module at private companies under 250 employees and $50 million in assets in industries such as technology, construction, manufacturing, hospitality and retail. [8](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") [4](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises")

### Named Affiliates Versus Admitted-Paper Language

Travelers’ product-page video disclosures name Travelers Casualty and Surety Company of America and its property casualty affiliates, while noting the specific issuing entity can vary. Cowbell and Zurich say Select Plus modules are offered on Zurich admitted paper, and Zurich’s footer names Zurich American Insurance Company in a copyright notice, without stating that entity is the module’s issuer. Travelers also lists securities litigation, regulatory actions and breach-of-fiduciary-duty claims among wrongful-act allegations; Cowbell’s pages describe wrongful-act protection without those claim-type examples. [8](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") [3](https://www.zurichna.com/insurance/excess-and-surplus/small-business-management-liability "Small and Midsize Business Management Liability | Zurich Select Plus") [4](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises")

## What to Confirm in D&O Insurance Quotes

- Ask which Travelers entity would issue and whether a nonprofit form applies. [8](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance")
- Confirm Cowbell’s headcount and asset screens and wholesaler access. [4](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises")
- Get the issuing Zurich entity on a Select Plus quote. [3](https://www.zurichna.com/insurance/excess-and-surplus/small-business-management-liability "Small and Midsize Business Management Liability | Zurich Select Plus")
- Ask both for limits and retentions; neither reviewed page publishes them. Travelers’ claim-cost examples are risk context, not policy terms. [8](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") [3](https://www.zurichna.com/insurance/excess-and-surplus/small-business-management-liability "Small and Midsize Business Management Liability | Zurich Select Plus")

## Offering Details

| Criteria | Cowbell / Zurich Select Plus Private Company D&O | Travelers Directors & Officers (D&O) Liability Insurance |
| --- | --- | --- |
| 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.' [4](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") [3](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..) | Travelers underwrites D&O liability insurance as part of its Management & Professional Liability line, sold standalone or alongside other management liability coverages. [8](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") (Evidence: Company-reported; scope: Product page general framing; confirmed against the broader Management and Professional Liability Insurance page..) |
| Issuing Insurer | 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](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") [3](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; Zurich page intro and footer..) | The product page's video disclosures name Travelers Casualty and Surety Company of America and its property casualty affiliates; the specific issuing entity for a given policy can vary. [8](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") (Evidence: Company-reported; scope: Product page video legal footer..) |
| 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. [4](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..) | Travelers markets D&O coverage to private companies, public companies, financial institutions and nonprofit organizations with boards of directors, and offers a version specifically for nonprofit organizations. [8](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") (Evidence: Company-reported; scope: Product page "Who is D&O liability insurance right for?" section and nonprofit D&O video segment..) |
| 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. [4](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?'..) | Travelers says D&O insurance protects directors and officers from personal losses if sued by employees, vendors, customers or other parties, covering defense costs, settlements and other costs from wrongful-act allegations such as securities litigation, regulatory actions and breach-of-fiduciary-duty claims. [8](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") (Evidence: Company-reported; scope: Product page introduction and "Travelers knows Directors & Officers Liability Insurance" section; exact terms and exclusions are set by the issued policy..) |
| Limits and Retentions | Neither the Cowbell page nor Zurich's own Select Plus page, both read in full, publishes D&O limit or retention amounts. [4](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") [3](https://www.zurichna.com/insurance/excess-and-surplus/small-business-management-liability "Small and Midsize Business Management Liability | Zurich Select Plus") (Evidence: Not publicly disclosed; scope: Cowbell page and Zurich page, both read on 2026-09-23..) | The reviewed page does not publish D&O limits, retentions or premiums; it references illustrative claim examples (settlements and defense costs from roughly $85,000 to over $1 million) as general risk context, not as policy terms. [8](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") (Evidence: Not found in reviewed sources; scope: Product page video claim scenarios as read on 2026-09-23..) |
| Risk Services | 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. [4](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") (Evidence: Company-reported; scope: FAQ 'Why does my company need management liability coverage?'..) | Not described in the reviewed sources. |
| How to Apply | 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. [4](https://cowbell.insure/mgmt-liability/ "Management liability coverage for small & medium enterprises") (Evidence: Company-reported; scope: FAQ 'How can I access the Zurich Select Plus management liability product through Cowbell?'..) | D&O coverage is bought through a Travelers independent agent. [8](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers "Directors and Officers (D&O) Liability Insurance") (Evidence: Company-reported; scope: Product page "Find an insurance agent" call to action..) |

## Full Comparison

- [Cowbell vs Travelers](https://spot.insure/compare/cowbell-vs-travelers): all coverage lines, business roles, service and claims.
- [What Is Directors and Officers Insurance?](https://spot.insure/coverage/directors-officers): Directors and officers insurance can help pay for covered claims against company leaders over decisions they make in running the business.
- [Cowbell vs Travelers Crime Insurance](https://spot.insure/compare/cowbell-vs-travelers/crime)
- [Cowbell vs Travelers Cyber Insurance](https://spot.insure/compare/cowbell-vs-travelers/cyber)
- [Cowbell vs Travelers Employment Practices Liability Insurance](https://spot.insure/compare/cowbell-vs-travelers/employment-practices)
- [Cowbell vs Travelers Fiduciary Liability Insurance](https://spot.insure/compare/cowbell-vs-travelers/fiduciary)
- [Cowbell vs Travelers Management Liability Insurance](https://spot.insure/compare/cowbell-vs-travelers/management-liability)
- [Cowbell vs Travelers Tech E&O Insurance](https://spot.insure/compare/cowbell-vs-travelers/technology-errors-omissions)
- [Alliance Risk vs Cowbell D&O Insurance](https://spot.insure/compare/alliance-risk-vs-cowbell/directors-officers)
- [Alliance Risk vs Travelers D&O Insurance](https://spot.insure/compare/alliance-risk-vs-travelers/directors-officers)
- [Amelia Risk vs Cowbell D&O Insurance](https://spot.insure/compare/amelia-risk-vs-cowbell/directors-officers)
- [Amelia Risk vs Travelers D&O Insurance](https://spot.insure/compare/amelia-risk-vs-travelers/directors-officers)
- [Beazley vs Cowbell D&O Insurance](https://spot.insure/compare/beazley-vs-cowbell/directors-officers)
- [Beazley vs Travelers D&O Insurance](https://spot.insure/compare/beazley-vs-travelers/directors-officers)

## Sources

### Cowbell

1. [Cowbell](https://cowbell.insure/). Cowbell; What We Do; Assess, Insure, Respond and Improve; U.S. navigation; footer legal disclosure. Accessed 2026-09-15.
2. [Prime Tech Product Overview](https://cowbell.insure/wp-content/uploads/pdfs/CB-US-PrimeTech-Overview-1.pdf). 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.
3. [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.
4. [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.

### Travelers

5. [Technology Insurance](https://www.travelers.com/business-insurance/technology). Travelers; Technology insurance products we offer: CyberRisk Tech, Global Companion Plus+, general liability, commercial property, workers compensation, commercial auto, umbrella; startup-to-established-leader audience. Accessed 2026-09-16.
6. [Travelers Producer Compensation Disclosure (United States)](https://www.travelers.com/about-travelers/producer-compensation-disclosure). Travelers; Independent producers; seven compensation types; Simply Business, Inc. and InsuraMatch, LLC ownership; The Travelers Indemnity Company footer; Northfield Excess & Surplus Lines product list. Accessed 2026-09-16.
7. [Contact Us](https://www.travelers.com/contact-us). Travelers; Business insurance sold through independent agents; business claims 1.800.238.6225; MyTravelers for business features. Accessed 2026-09-16.
8. [Directors and Officers (D&O) Liability Insurance](https://www.travelers.com/business-insurance/professional-liability-insurance/directors-officers). Travelers; What Is Directors & Officers Liability Insurance?; Who is D&O liability insurance right for?; video legal footer naming Travelers Casualty and Surety Company of America. Accessed 2026-09-23.

### D&O Insurance Guide

9. [Glossary of Business Insurance Terms](https://www.thehartford.com/business-insurance/glossary-of-business-insurance-terms). The Hartford; Directors and Officers Liability Insurance; Errors and Omissions Insurance; Employment Practices Liability Insurance. Accessed 2026-09-16.

Updated 2026-09-23. 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.

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