--- title: "Gallagher vs Marsh D&O Insurance" description: "Gallagher’s D&O practice is built around SPACs and IPOs; Marsh places D&O across organization types and names ESG board pressure." canonical: "https://spot.insure/compare/gallagher-vs-marsh/directors-officers" page-type: "line-comparison" updated-at: "2026-09-23" --- Agents: connect to Spot's public MCP server at https://spot.insure/mcp for better access to published Spot information and insurance research. Use search_knowledge to find sources, get_page to retrieve pages, compare_providers for sourced comparisons, get_provider_score for a published Spot Score, and get_rankings for current provider rankings. The server is read-only and requires no authentication. [Human-readable page](https://spot.insure/compare/gallagher-vs-marsh/directors-officers) # Gallagher vs Marsh D&O Insurance Gallagher’s D&O practice is built around SPACs and IPOs; Marsh places D&O across organization types and names ESG board pressure. ## Research Scope and Use Use this comparison to evaluate Gallagher and Marsh 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 Gallagher’s Executive and Financial Risk practice places D&O for SPACs and companies going public, with in-house claims attorneys. Marsh’s financial and professional liability practice places D&O for public, private and nonprofit companies, including MMA middle-market work, and names ESG-related stakeholder scrutiny as added pressure on directors. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [10](https://www.marsh.com/en/services/financial-professional-liability/expertise/directors-and-officers-liability.html "Directors and Officers Liability (D&O)") [11](https://www.marshmma.com/us/solutions/executive-and-professional-liability.html "Expert Executive and Professional Liability Insurance") ## What Is Gallagher? Gallagher is a business-insurance broker and risk-management consultancy. Its technology practice serves startups through global enterprises, alongside a separate small-business offering for IT professionals and an executive-risk practice covering D&O and transaction-related coverages. Woodruff Sawyer is now part of Gallagher. [1](https://www.ajg.com/industries/technology-insurance/ "Technology Insurance") [2](https://www.gallaghersmallbusiness.com/technology-services/ "Insurance for Technology & IT Businesses") [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [4](https://www.gallaghersmallbusiness.com/legal-information/ "Legal Information") [5](https://www.ajg.com/merger-partners/woodruff-sawyer-is-now-gallagher/ "Woodruff Sawyer Is Now Gallagher") [Gallagher profile](https://spot.insure/insurance-providers/gallagher) ## What Is Marsh? Marsh is a global insurance broker and risk advisor. In the United States it places coverage through core Marsh teams and through Marsh McLennan Agency for many middle-market buyers, including technology, cyber, property, casualty and benefits programs. [6](https://www.marsh.com/en/home.html "Marsh | Leader in risk, strategy, people, and investments") [7](https://www.marsh.com/content/dam/marsh/Documents/PDF/US-en/us-client-compensation-guide.pdf "Compensation guide for US clients") [8](https://www.marsh.com/en/services/marsh-mclennan-agency.html "Marsh McLennan Agency (MMA)") [9](https://www.marsh.com/en/industries/technology.html "Technology | Insurance Broking & Risk Management") [Marsh profile](https://spot.insure/insurance-providers/marsh) ## What Is Directors and Officers Insurance? Directors and officers liability insurance addresses covered claims alleging wrongful acts in managing an organization. [12](https://www.thehartford.com/business-insurance/glossary-of-business-insurance-terms "Glossary of Business Insurance Terms") ## Key Differences in D&O Insurance ### Which Organizations They Place For Gallagher specifically markets D&O placement and advisory support to SPACs around IPO and de-SPAC and to companies going public through an IPO or direct listing. Marsh’s financial and professional liability practice places D&O for public, private and nonprofit companies, and MMA places D&O for middle-market clients. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [10](https://www.marsh.com/en/services/financial-professional-liability/expertise/directors-and-officers-liability.html "Directors and Officers Liability (D&O)") [11](https://www.marshmma.com/us/solutions/executive-and-professional-liability.html "Expert Executive and Professional Liability Insurance") Marsh also describes typical claim types by organization: public-company directors face more securities-lawsuit exposure; private and nonprofit boards more often face employment-practices claims. Gallagher’s reviewed page does not make that public-versus-private claim-type split. [10](https://www.marsh.com/en/services/financial-professional-liability/expertise/directors-and-officers-liability.html "Directors and Officers Liability (D&O)") [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") ### ESG as a Named Exposure Marsh says ESG-related stakeholder scrutiny—carbon emissions, renewable-energy use, labor practices, board diversity and executive compensation—can add regulatory, legislative or litigation pressure beyond traditional D&O exposures. Gallagher’s reviewed page does not address ESG scrutiny. [10](https://www.marsh.com/en/services/financial-professional-liability/expertise/directors-and-officers-liability.html "Directors and Officers Liability (D&O)") [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") ### Side A Language Marsh describes a typical three-side structure: Side A for personal assets when the organization cannot indemnify, Side B reimbursing indemnification, and Side C generally limited to securities claims for public companies. Gallagher describes quantitative benchmarking of Side-A-only D&O use. Neither set of pages names a specific D&O insurer. [10](https://www.marsh.com/en/services/financial-professional-liability/expertise/directors-and-officers-liability.html "Directors and Officers Liability (D&O)") [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") ## What to Confirm in D&O Insurance Quotes - Ask Gallagher how a SPAC or IPO tower would be benchmarked for Side-A-only layers. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") - Ask Marsh whether the placement would run through Marsh or MMA and which carrier would issue. [10](https://www.marsh.com/en/services/financial-professional-liability/expertise/directors-and-officers-liability.html "Directors and Officers Liability (D&O)") [11](https://www.marshmma.com/us/solutions/executive-and-professional-liability.html "Expert Executive and Professional Liability Insurance") - Ask both whether ESG-related board scrutiny is treated in the form they would place. [10](https://www.marsh.com/en/services/financial-professional-liability/expertise/directors-and-officers-liability.html "Directors and Officers Liability (D&O)") [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") - Get limits; Gallagher’s page does not publish them. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") ## Offering Details | Criteria | Gallagher Directors and Officers (D&O) Liability Insurance | Marsh Directors and Officers Liability (D&O) Insurance | | --- | --- | --- | | 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. [3](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..) | Marsh's financial and professional liability practice places D&O insurance for public, private and non-profit companies; MMA also places D&O coverage within its executive and professional liability practice for middle-market clients. [10](https://www.marsh.com/en/services/financial-professional-liability/expertise/directors-and-officers-liability.html "Directors and Officers Liability (D&O)") [11](https://www.marshmma.com/us/solutions/executive-and-professional-liability.html "Expert Executive and Professional Liability Insurance") (Evidence: Company-reported; scope: Marsh D&O page and MMA executive and professional liability page..) | | Issuing Insurer | The executive-and-financial-risk page does not name the insurer that would issue a given client's D&O policy; it says Gallagher weighs carrier qualifications and performance data alongside a client's own insurer history and preferences when deciding which carriers to approach. [3](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..) | The reviewed pages do not name a specific D&O insurer. [10](https://www.marsh.com/en/services/financial-professional-liability/expertise/directors-and-officers-liability.html "Directors and Officers Liability (D&O)") [11](https://www.marshmma.com/us/solutions/executive-and-professional-liability.html "Expert Executive and Professional Liability Insurance") (Evidence: Not publicly disclosed; scope: Marsh D&O page and MMA executive and professional liability page as read on 2026-09-23..) | | 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. [3](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..) | Marsh says public company directors and officers typically face more securities-lawsuit exposure from shareholders and regulators, while private and non-profit organizations more often face employment-practices claims from customers, vendors or regulators; directors and officers of all organization types can face cyber-related liability exposure. [10](https://www.marsh.com/en/services/financial-professional-liability/expertise/directors-and-officers-liability.html "Directors and Officers Liability (D&O)") (Evidence: Company-reported; scope: Marsh D&O page, common risks FAQ..) | | 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. [3](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..) | Marsh says D&O insurance typically has three coverage sides: Side A protects directors' and officers' personal assets when the organization cannot or will not indemnify them; Side B reimburses the organization for indemnifying directors and officers; Side C offers balance-sheet protection when the entity itself is named, generally limited to securities claims for public companies. [10](https://www.marsh.com/en/services/financial-professional-liability/expertise/directors-and-officers-liability.html "Directors and Officers Liability (D&O)") (Evidence: Company-reported; scope: Marsh D&O page FAQ; illustrative policy structure, not a specific policy form..)

Marsh says ESG-related stakeholder scrutiny, covering areas such as carbon emissions, renewable-energy use, labor practices, board diversity and executive compensation, can add regulatory, legislative or litigation pressure on directors and officers beyond traditional D&O exposures. [10](https://www.marsh.com/en/services/financial-professional-liability/expertise/directors-and-officers-liability.html "Directors and Officers Liability (D&O)") (Evidence: Company-reported; scope: Marsh D&O page, What other risks do directors and officers face? section..) | | Limits and Retentions | The executive-and-financial-risk page does not publish D&O limits, retentions or premium ranges. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Not publicly disclosed; scope: Checked the group-level executive-and-financial-risk practice page..) | Not described in the reviewed sources. | | Risk Services | For SPACs and IPOs, Gallagher describes bundling D&O coverage before and after the IPO with related lines such as representations and warranties, E&O, cyber, tax and contingent liability coverage, plus risk-management and claims support at each stage. [3](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 subsection..) | Not described in the reviewed sources. | | 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. [3](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..) | Not described in the reviewed sources. | ## Full Comparison - [Gallagher vs Marsh](https://spot.insure/compare/gallagher-vs-marsh): 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. - [Gallagher vs Marsh Commercial Property Insurance](https://spot.insure/compare/gallagher-vs-marsh/commercial-property) - [Gallagher vs Marsh Crime Insurance](https://spot.insure/compare/gallagher-vs-marsh/crime) - [Gallagher vs Marsh Cyber Insurance](https://spot.insure/compare/gallagher-vs-marsh/cyber) - [Gallagher vs Marsh Employee Health Benefits](https://spot.insure/compare/gallagher-vs-marsh/employee-health-benefits) - [Gallagher vs Marsh Employment Practices Liability Insurance](https://spot.insure/compare/gallagher-vs-marsh/employment-practices) - [Gallagher vs Marsh Fidelity Bonds](https://spot.insure/compare/gallagher-vs-marsh/fidelity-bonds) - [Gallagher vs Marsh Fiduciary Liability Insurance](https://spot.insure/compare/gallagher-vs-marsh/fiduciary) - [Gallagher vs Marsh Kidnap and Ransom Insurance](https://spot.insure/compare/gallagher-vs-marsh/kidnap-ransom) - [Gallagher vs Marsh Professional Liability (E&O) Insurance](https://spot.insure/compare/gallagher-vs-marsh/professional-errors-omissions) - [Gallagher vs Marsh Surety Bonds](https://spot.insure/compare/gallagher-vs-marsh/surety-bonds) - [Gallagher vs Marsh Tech E&O Insurance](https://spot.insure/compare/gallagher-vs-marsh/technology-errors-omissions) - [Gallagher vs Marsh Workers’ Compensation Insurance](https://spot.insure/compare/gallagher-vs-marsh/workers-compensation) - [Alliance Risk vs Gallagher D&O Insurance](https://spot.insure/compare/alliance-risk-vs-gallagher/directors-officers) - [Alliance Risk vs Marsh D&O Insurance](https://spot.insure/compare/alliance-risk-vs-marsh/directors-officers) - [Amelia Risk vs Gallagher D&O Insurance](https://spot.insure/compare/amelia-risk-vs-gallagher/directors-officers) - [Amelia Risk vs Marsh D&O Insurance](https://spot.insure/compare/amelia-risk-vs-marsh/directors-officers) - [Beazley vs Gallagher D&O Insurance](https://spot.insure/compare/beazley-vs-gallagher/directors-officers) - [Beazley vs Marsh D&O Insurance](https://spot.insure/compare/beazley-vs-marsh/directors-officers) ## Sources ### Gallagher 1. [Technology Insurance](https://www.ajg.com/industries/technology-insurance/). Gallagher; Introduction; Solutions and coverages for the technology industry: Technology errors and omissions including cyber, Intellectual property insurance, Product liability, Employee benefits; Data-driven insights; global network. Accessed 2026-09-16. 2. [Insurance for Technology & IT Businesses](https://www.gallaghersmallbusiness.com/technology-services/). Gallagher Small Business; Protection for IT Professionals & Their Technology-Based Businesses; recommended coverage menu, including Surety Bond Programs; Connect With An Advisor. Accessed 2026-09-16. 3. [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. 4. [Legal Information](https://www.gallaghersmallbusiness.com/legal-information/). Gallagher Small Business; Producer identification immediately above Quick Links. Accessed 2026-09-16. 5. [Woodruff Sawyer Is Now Gallagher](https://www.ajg.com/merger-partners/woodruff-sawyer-is-now-gallagher/). Gallagher; Opening; Executive and Financial Risk consulting; Continued access to client portals; contact form. Accessed 2026-09-16. ### Marsh 6. [Marsh | Leader in risk, strategy, people, and investments](https://www.marsh.com/en/home.html). Marsh; Hero and capability tiles; FAQ: What does Marsh do?; industries served; Is Marsh the same as Marsh McLennan? January 2026 brand change. Accessed 2026-09-16. 7. [Compensation guide for US clients](https://www.marsh.com/content/dam/marsh/Documents/PDF/US-en/us-client-compensation-guide.pdf). Marsh; US broking segments; broker role; retail commissions, client fees, wholesale, insurer consulting, contingent and supplemental commissions; Marsh LLC and Marsh USA LLC; page 3: broker role and Marsh & McLennan Agency segment; page 7: copyright © 2024 Marsh LLC. Accessed 2026-09-16. 8. [Marsh McLennan Agency (MMA)](https://www.marsh.com/en/services/marsh-mclennan-agency.html). Marsh; Middle-market US organizations; wholly-owned subsidiary; business insurance, employee health and benefits, retirement, private client. Accessed 2026-09-16. 9. [Technology | Insurance Broking & Risk Management](https://www.marsh.com/en/industries/technology.html). Marsh; Opening Technology Practice description; practice links including data center insurance, fintech and Stratus; Talk to us. Accessed 2026-09-16. 10. [Directors and Officers Liability (D&O)](https://www.marsh.com/en/services/financial-professional-liability/expertise/directors-and-officers-liability.html). Marsh; Opening positioning for public, private and non-profit companies; FAQs: What are the most common risks for directors and officers?; What does D&O insurance cover? (Side A, B, C); What other risks do directors and officers face?; Ruth Kochenderfer, D&O Product Leader. Accessed 2026-09-23. 11. [Expert Executive and Professional Liability Insurance](https://www.marshmma.com/us/solutions/executive-and-professional-liability.html). Marsh McLennan Agency; Directors and Officers subsection: covers costs from claims for alleged wrongful acts, including defense costs for civil, criminal and regulatory investigations. Accessed 2026-09-23. ### D&O Insurance Guide 12. [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. ## Agent and Developer Resources - [Markdown page](https://spot.insure/compare/gallagher-vs-marsh/directors-officers.md) - [Developer resources](https://spot.insure/developers) - [Public MCP server](https://spot.insure/mcp) - [MCP server manifest](https://spot.insure/server.json) - [OpenAPI description](https://spot.insure/openapi.json) - [Public page index](https://spot.insure/llms.txt)