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

Founder Shield places D&O for public and private companies with a three-part structure, while Lockton designs programs that can cover entities beyond the company.

Founder Shield brokers D&O for venture-backed, private and public companies, placing only with carriers rated A- or better. Lockton designs custom D&O programs and puts claims counsel inside your broking team from the start, so the people who placed the policy help fight the claim. ^1,^3,⁴

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

Startup-Focused Broker vs Custom Program With Claims Counsel

Founder Shield says almost every institutional term sheet requires D&O, also serves businesses owing more than $1M to creditors, and describes a typical base layer of $5M to $10M. Lockton builds around market intelligence and emerging risks such as AI-related litigation, and says its claims counsel isn't run as a separate profit center. Choose Founder Shield if you're a venture-backed company that needs D&O to satisfy investors; choose Lockton if you want a program designed around unusual exposures and claims support built in from day one. ¹ ⁴

Who the Policy Can Protect

Lockton says its programs can cover trustees, employees, contractors, committee members, volunteers, subsidiaries, spouses and estates, not just directors and officers. That matters if you're a nonprofit or run subsidiaries. Founder Shield explains Sides A, B and C but doesn't list who counts as an insured. ⁴ ¹

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

Ask Founder Shield which carrier it chose and its AM Best rating at binding. ³
Ask Lockton which insurers it will approach and the limit it recommends. ⁴
Ask Founder Shield who handles your claim and how; its D&O pages don't say. ¹

Founder Shield vs Lockton D&O Insurance Compared

Founder Shield vs Lockton: D&O Insurance: documented features by provider

Criteria	Founder Shield Directors & Officers Insurance	Lockton Directors & Officers (D&O) Insurance Brokerage
Who It’s For	Founder Shield targets D&O at public and private businesses, venture-backed companies (it says almost every institutional term sheet requires the coverage), and businesses owing more than $1 million to creditors. ¹Company-reported. Directors & Officers Insurance product page.	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. ⁴Company-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	Founder Shield describes a three-part structure: Side A pays individual directors/officers directly when the company cannot or will not indemnify them, Side B reimburses the company for indemnification it pays, and Side C provides entity coverage for the company itself. ¹Company-reported. Product page; the issued policy and declarations control actual coverage.	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). ⁴Company-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	Founder Shield is a retail insurance brokerage, described on its site as “the innovation arm of The Baldwin Group,” and places Founder Shield Directors & Officers Insurance with third-party carriers rather than underwriting the policy itself. ²Company-reported. About-us page; applies to Founder Shield's brokerage model generally, restated here for this line.	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. ⁴Company-reported. D&O product page as read 2026-09-23.