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

Embroker sells standalone D&O online, while Lockton designs and places D&O programs and says coverage may extend to related entities beyond the company.

Embroker suits funded startups that want to quote online and see limits in advance, from about $1–2 million early on to $8–10 million after large raises. Lockton designs custom programs that can extend cover to trustees, volunteers and spouses, and embeds claims counsel in your broking team. ^1,²

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

Online Startup Policy vs a Designed Program

Embroker markets D&O to VC-backed startups, companies with boards and nonprofits, and quotes online on revenue, industry and claims history. Its published bands cover D&O, EPL and fiduciary together, with retentions from $10–25k for raises up to $10 million to $25–75k for raises of $100–250 million. Lockton designs and places programs, tracking emerging risks such as AI-related litigation and event-driven claims. Choose Embroker if you're a venture-backed startup that wants a quick online quote; choose Lockton if you're a larger or more complex organization that needs a program built around you. ¹ ²

Who the Policy Covers

Lockton says its programs can cover trustees, employees, contractors, committee members, volunteers, subsidiaries, spouses and estates. Embroker describes the standard three parts (Side A for individuals when the company can't indemnify, Side B reimbursement, Side C entity cover) without that wider roster. That gap matters most for nonprofits and boards that rely on volunteers. ² ¹

Known Exclusions vs Claims Counsel on Your Side

Embroker lists what it won't cover: suits between members of the same company, criminal or fraudulent acts, prior-knowledge claims and antitrust violations. Lockton publishes no limits or exclusions; instead its claims counsel sit inside your broking team from the start. ¹ ²

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

Ask Lockton which extra insured groups your program will name and which insurers it will approach. ²
Ask Embroker whether D&O shares one limit with EPL and fiduciary. ¹
If a co-founder or board dispute is a risk, check how Embroker's insider exclusion reads on the policy. ¹

Embroker vs Lockton D&O Insurance Compared

Embroker vs Lockton: D&O Insurance: documented features by provider

Criteria	Embroker Directors and Officers Insurance	Lockton Directors & Officers (D&O) Insurance Brokerage
Who It’s For	Embroker markets D&O to any private or public company with a board of directors, startups that have received or are about to receive venture capital funding, and nonprofit corporations, saying VC and private equity investors commonly require it before funding. ¹Company-reported. Product-page eligibility and 'Why Do Startups Need D&O Insurance?' sections; not a guarantee of coverage for a particular company.	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. ²Company-reported. 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	Embroker lists coverage for misuse of company funds, misrepresentation of company assets, breach of fiduciary duty, failure to comply with workplace laws and lack of corporate governance. ¹Company-reported. Product-page What's covered section; the issued policy and declarations control. Embroker says the policy excludes lawsuits between members of the same company, criminal or deliberately fraudulent activity, prior-knowledge claims, and claims against directors actively engaged in antitrust violations. ¹Company-reported. Product-page What's not included section. Embroker structures its D&O policy with three insuring agreements: Side A covers individual directors and officers when the company cannot indemnify them, Side B reimburses the company for indemnifying its leaders, and Side C covers the company itself when it is sued for financial mismanagement. ¹Company-reported. Product-page 'What are Side A, B, and C insuring agreements?' section; specific policy structure, not a claim about every insurer's D&O form.	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). ²Company-reported. D&O product page as read 2026-09-23. General educational description of program structure, not a specimen policy form.
Role in This Line	Embroker sells D&O as a standalone policy and offers to package it with cyber and workers' compensation; it also says EPLI, D&O and related coverages are sometimes bundled into a management liability program. ¹Company-reported. Product-page description; not a statement about the issuing insurer.	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. ²Company-reported. D&O product page as read 2026-09-23.

Criteria

Embroker Directors and Officers Insurance

Lockton Directors & Officers (D&O) Insurance Brokerage

Who It’s For

Embroker markets D&O to any private or public company with a board of directors, startups that have received or are about to receive venture capital funding, and nonprofit corporations, saying VC and private equity investors commonly require it before funding. ¹Company-reported. Product-page eligibility and 'Why Do Startups Need D&O Insurance?' sections; not a guarantee of coverage for a particular company.

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. ²Company-reported. 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

Embroker lists coverage for misuse of company funds, misrepresentation of company assets, breach of fiduciary duty, failure to comply with workplace laws and lack of corporate governance. ¹Company-reported. Product-page What's covered section; the issued policy and declarations control.

Embroker says the policy excludes lawsuits between members of the same company, criminal or deliberately fraudulent activity, prior-knowledge claims, and claims against directors actively engaged in antitrust violations. ¹Company-reported. Product-page What's not included section.

Embroker structures its D&O policy with three insuring agreements: Side A covers individual directors and officers when the company cannot indemnify them, Side B reimburses the company for indemnifying its leaders, and Side C covers the company itself when it is sued for financial mismanagement. ¹Company-reported. Product-page 'What are Side A, B, and C insuring agreements?' section; specific policy structure, not a claim about every insurer's D&O form.

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). ²Company-reported. D&O product page as read 2026-09-23. General educational description of program structure, not a specimen policy form.

Role in This Line

Embroker sells D&O as a standalone policy and offers to package it with cyber and workers' compensation; it also says EPLI, D&O and related coverages are sometimes bundled into a management liability program. ¹Company-reported. Product-page description; not a statement about the issuing insurer.

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. ²Company-reported. D&O product page as read 2026-09-23.