Cowbell vs Travelers: How Do They Compare for Fiduciary Liability Insurance?

Cowbell's fiduciary module is underwritten by Zurich and available only through insurance brokers appointed by Zurich; Travelers underwrites its fiduciary coverage within Management & Professional Liability and sells it through agents.

Cowbell targets private firms under 250 employees and $50 million in assets through wholesalers; Travelers markets fiduciary to financial institutions, nonprofits and public and private companies through agents. ^1,^2,³

What Are the Key Differences Between Cowbell and Travelers Fiduciary Liability Insurance?

Two Underwriting Homes

Cowbell’s fiduciary module is accessed through appointed Zurich wholesalers. Travelers sells Management & Professional Liability through independent agents and offers fiduciary standalone or alongside other management coverages. ¹ ² ³

Audiences

Cowbell targets private companies under 250 employees and $50 million in assets. Travelers markets the cover to financial institutions, nonprofit organizations, private companies, and public companies. ¹ ³

Coverage Language on the Product Pages

Cowbell’s definition is breaches of fiduciary duty on employee benefit plans such as a 401(k) or health plan. Travelers says the cover protects companies and individuals who manage a company-sponsored retirement or health plan from mismanagement claims and personal liability for ERISA fiduciary-duty breaches, including litigation costs and administration errors. ¹ ³

How You Buy

Appointed Zurich E&S wholesalers access Cowbell through an API. Travelers fiduciary liability is bought through a Travelers independent agent. Neither reviewed page publishes limits or retentions; Travelers cites industry claim-cost examples, not policy terms. ¹ ³

What Should You Confirm in Cowbell and Travelers Fiduciary Liability Insurance Quotes?

Compare issuing entities: Zurich on a Cowbell quote versus the Travelers company named on the declarations. ² ³
Ask whether Travelers is quoting standalone fiduciary or a management-liability package, and whether Cowbell’s module is combined with other Select Plus parts. ³ ²
Check if you are a nonprofit, public company, or financial institution that sits outside Cowbell’s private-company size FAQ. ³ ¹
Treat Travelers’ million-dollar claim examples as context only; request actual limits and retentions from both. ³ ¹

Cowbell vs Travelers Fiduciary Liability Insurance Compared

Cowbell vs Travelers: Fiduciary Liability Insurance: documented features by provider

Criteria	Cowbell / Zurich Select Plus Fiduciary Liability	Travelers 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.	Travelers markets fiduciary liability coverage to financial institutions, nonprofit organizations, private companies and public companies. ³Company-reported. Product page "Who is fiduciary liability insurance right for?" section.
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. ¹Company-reported. FAQ 'How can I access the Zurich Select Plus management liability product through Cowbell?'.	Fiduciary liability coverage is bought through a Travelers independent agent. ³Company-reported. Product page "Find an insurance agent" call to action.
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?'.	Travelers says fiduciary liability coverage protects companies and individuals who manage a company-sponsored retirement or health plan from claims of mismanagement and personal liability for breach of fiduciary duty under ERISA, including litigation costs and errors or omissions in plan administration. ³Company-reported. Product page "What Is Fiduciary Liability Insurance?" and "What does fiduciary liability insurance cover?" sections; exact terms and exclusions are set by the issued policy.
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.	Travelers underwrites fiduciary liability insurance as part of its Management & Professional Liability line, sold standalone or alongside other management liability coverages. ³Company-reported. 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 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. ^1,²Company-reported. Management liability page intro; Zurich page intro and footer.	The product page's video disclosure names Travelers Casualty and Surety Company of America and its property casualty affiliates; the specific issuing entity for a given policy can vary. ³Company-reported. Product page video legal footer.