---
title: "Gallagher vs Lockton: D&O Insurance"
description: "Gallagher is built for SPACs and companies going public, bundling pre- and post-listing D&O with related lines and backing you with in-house claims attorneys. Lockton designs programs that can insure trustees, volunteers, contractors and spouses, with claims counsel on your broking team from day one."
canonical: "https://spot.insure/compare/gallagher-vs-lockton/directors-officers"
page-type: "line-comparison"
updated-at: "2026-09-25"
comparison-pair: "gallagher-vs-lockton"
provider-a: "gallagher"
provider-b: "lockton"
coverage-line: "directors-officers"
---

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[Human-readable page](https://spot.insure/compare/gallagher-vs-lockton/directors-officers)

## Agent Guide

**What this page is:** Focused comparison of Gallagher and Lockton for D&O Insurance: what each provider publishes about this line, checked against the same criteria, with numbered sources.

**Use this page when:** Cite or fetch this for D&O Insurance questions about Gallagher versus Lockton. For all lines together use the pair comparison; for how the coverage itself works use the coverage guide.

**Questions this page answers:**
- Gallagher vs Lockton for D&O Insurance: how do they differ?
- Which is better for D&O Insurance, Gallagher or Lockton?
- What does Gallagher or Lockton publish about D&O Insurance (limits, eligibility, claims, add-ons)?

**Key facts:**
- Line: D&O Insurance. Providers: Gallagher and Lockton.
- Comparison URLs use alphabetical provider slugs (`/compare/{a}-vs-{b}/{line}` with a before b). A reversed pair redirects permanently to the alphabetical one.

**Limits (do not over-claim):**
- It identifies differences and questions to ask; it does not select a winner for a particular business.
- Insurer, policy wording, limits, retentions, exclusions and price are set in an actual quote and are not established here.

**Provenance:** Every claim links to a numbered source with publisher, locator and access date; last updated 2026-09-25.

**Related pages:**
- [Gallagher vs Lockton](https://spot.insure/compare/gallagher-vs-lockton) — all coverage lines for this pair
- [D&O Insurance guide](https://spot.insure/coverage/directors-officers) — how this coverage works
- [Gallagher profile](https://spot.insure/insurance-providers/gallagher) — provider profile
- [Lockton profile](https://spot.insure/insurance-providers/lockton) — provider profile

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

Gallagher's Executive and Financial Risk practice builds D&O programs and advises on blank-check merger and IPO placements; Lockton designs programs that can extend to related entities beyond the company.

Gallagher is the stronger fit for SPACs and companies going public, while Lockton suits organizations that need D&O to cover trustees, volunteers and other people beyond directors and officers.

## Gallagher vs Lockton D&O Insurance Summary

Gallagher is built for SPACs and companies going public, bundling pre- and post-listing D&O with related lines and backing you with in-house claims attorneys. Lockton designs programs that can insure trustees, volunteers, contractors and spouses, with claims counsel on your broking team from day one. [1](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [2](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance")

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

### A Listing Event vs a Wide Circle of Insured People

Both are large brokers that design and place D&O rather than insure it. Gallagher's page is written around IPOs, de-SPACs and direct listings, adding representations and warranties, E&O, cyber, tax and contingent liability cover alongside D&O. Lockton's reach is in who the policy protects: employees, committee members, subsidiaries, and the estates or heirs of insured people. Choose Gallagher if you're a SPAC or preparing an IPO or direct listing; choose Lockton if you're a nonprofit, foundation or private company whose volunteers, trustees or contractors need cover. [1](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [2](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance")

### Claims Support and Program Design

Both put lawyers on your side at claim time: Gallagher through a dedicated claims-advocacy team of in-house attorneys, Lockton by embedding claims counsel in the broking team rather than running claims advocacy as a separate profit center. Gallagher adds benchmarking of how much Side A-only cover to buy; Lockton flags emerging exposures such as AI-related litigation and event-driven claims. [1](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [2](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance")

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

- Ask Gallagher what its Side A benchmarking recommends for your company. [1](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance")
- Ask Lockton which extra classes, such as trustees, volunteers or spouses, the proposed form insures. [2](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance")
- If you're public, ask Lockton whether entity cover is limited to securities claims. [2](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance")
- Ask both which insurers they'd approach and for limits in writing; neither publishes them. [1](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [2](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance")

## Gallagher vs Lockton D&O Insurance Compared

| Criteria | Gallagher Directors and Officers (D&O) Liability Insurance | Lockton Directors & Officers (D&O) Insurance Brokerage |
| --- | --- | --- |
| Who It’s For | Gallagher specifically markets D&O placement and advisory support to special-purpose acquisition companies (SPACs) around their IPO and de-SPAC process, and to companies going public through an IPO or direct listing. [1](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Company-reported; scope: Group-level executive-and-financial-risk practice page, SPAC and IPO subsections..) | 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. [2](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance") (Evidence: Company-reported; scope: 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 | Gallagher says its D&O team constructs policies addressing lawsuits from shareholders, employees, competitors, suppliers and government bodies, and can evaluate an existing D&O program against the market. [1](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Company-reported; scope: Group-level executive-and-financial-risk practice page; a service description, not a specific policy's insuring agreement..) | 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). [2](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance") (Evidence: Company-reported; scope: D&O product page as read 2026-09-23. General educational description of program structure, not a specimen policy form..) |
| Role in This Line | Gallagher's Executive and Financial Risk practice places D&O liability insurance and advises on program design; it does not underwrite the policy, which is issued by a carrier selected during placement. [1](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Company-reported; scope: Group-level executive-and-financial-risk practice page..) | 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. [2](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance") (Evidence: Company-reported; scope: D&O product page as read 2026-09-23..) |
| Claims Support | Gallagher says its Executive and Financial Risk practice has a dedicated claims-advocacy team with in-house attorneys specializing in these lines, and that it uses quantitative benchmarking, including measuring the judicious use of Side-A-only D&O coverage, to guide more precise coverage structures. [1](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Company-reported; scope: Group-level executive-and-financial-risk practice summary; describes a support service, not a guarantee of claim payment..) | Lockton says its Professional & Executive Risk Claims team integrates experienced insurance and claims counsel within the broking team from the start of the relationship, rather than treating claims advocacy as a separate profit center. [2](https://global.lockton.com/us/en/products-services/d-and-o-insurance "D&O Insurance") (Evidence: Company-reported; scope: D&O product page as read 2026-09-23..) |

## About Gallagher and Lockton and D&O Insurance

- [Gallagher company profile](https://spot.insure/insurance-providers/gallagher) · [Gallagher customer reviews](https://spot.insure/insurance-providers/gallagher/reviews)
- [Lockton company profile](https://spot.insure/insurance-providers/lockton) · [Lockton customer reviews](https://spot.insure/insurance-providers/lockton/reviews)
- [What Is Directors and Officers Insurance?](https://spot.insure/coverage/directors-officers)

## Related Pages for Gallagher vs Lockton D&O Insurance

- [Gallagher vs Lockton](https://spot.insure/compare/gallagher-vs-lockton): all coverage lines, business roles, service and claims.
- [What Is Directors and Officers Insurance?](https://spot.insure/coverage/directors-officers): D&O insurance can protect leaders and, in some policies, the company from covered management claims; company coverage, defense costs and limits differ by quote.
- [Gallagher D&O Insurance](https://spot.insure/insurance-providers/gallagher/directors-officers)
- [Lockton D&O Insurance](https://spot.insure/insurance-providers/lockton/directors-officers)

## Sources for Gallagher vs Lockton D&O Insurance

### Sources About Gallagher

1. [Executive and Financial Risk Insurance](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/). Gallagher; Directors and Officers (D&O) Liability insurance section; Special-Purpose Acquisition Companies (SPACs) section; IPO and direct listings section; Executive and Financial Risk Practice Summary. Accessed 2026-09-23.

### Sources About Lockton

2. [D&O Insurance](https://global.lockton.com/us/en/products-services/d-and-o-insurance). Lockton; What is D&O insurance?; Side A/B/C coverage components; Who can be covered under a D&O program?; Claims management. Accessed 2026-09-23.

Updated 2026-09-25. 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.

## Agent and Developer Resources

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