Lockton vs 
Marsh D&O Insurance
Lockton leans on a claims team embedded in D&O broking; Marsh instead calls out ESG-related governance scrutiny as an emerging pressure.
What Is Lockton?
Lockton is a privately held insurance brokerage that arranges commercial risk, employee benefits and retirement programs. US pages describe a technology practice and intermediary placement with insurers, not Lockton as the policy’s insurer. 1,2,3
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. 5,6,7,8
What Is Directors and Officers Insurance?
Directors and officers liability insurance addresses covered claims alleging wrongful acts in managing an organization. 11
Key Differences in D&O Insurance
A Service Promise Versus a Risk Warning
Lockton's D&O pitch centers on what happens once a claim lands, describing a specific team structure for handling it. 4 Marsh's pitch instead centers on what's driving new claims in the first place:
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. 9Company-reported. Marsh D&O page, What other risks do directors and officers face? section.
Who Each Side Says Faces the Risk
Marsh splits eligibility by organization type, saying public companies more often face securities suits from shareholders and private or nonprofit companies more often face employment-practices claims. 9 Lockton instead lists who within an organization a program it places can cover, extending beyond directors and officers to trustees, committee members and volunteers, rather than sorting by company type. 4
What Neither Page Names
Marsh's D&O and MMA pages don't name a specific insurer for this line. 9 Lockton's page has the same gap, describing market intelligence and coverage-design precision without naming who would actually underwrite the resulting policy. 4
What to Confirm in D&O Insurance Quotes
- Ask Lockton which insurers it typically places D&O with; the reviewed page describes the process but not a carrier. 4
- Ask Marsh which entity issues the policy; the reviewed pages have the same gap. 9
- Confirm how each broker's claims process works in practice, since Lockton names a specific integrated team that Marsh's page doesn't mirror. 4
- If board diversity or executive-pay scrutiny is a concern for your company, ask Marsh how that factors into the placement, since Lockton's page doesn't raise it. 9
Offering Details
Lockton vs Marsh D&O Insurance: documented features by provider
| Criteria | Lockton Directors & Officers (D&O) Insurance Brokerage | Marsh Directors and Officers Liability (D&O) Insurance |
|---|---|---|
| Role in 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. | 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. 9,10Company-reported. Marsh D&O page and MMA executive and professional liability page. |
| Issuing Insurer | The D&O page does not name the insurers Lockton places D&O coverage with. 4Not publicly disclosed. D&O product page checked 2026-09-23. | The reviewed pages do not name a specific D&O insurer. 9,10Not publicly disclosed. Marsh D&O page and MMA executive and professional liability page as read on 2026-09-23. |
| Who It’s For | 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. | 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. 9Company-reported. Marsh D&O page, common risks FAQ. |
| Coverage Features | 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. | 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. 9Company-reported. 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. 9Company-reported. Marsh D&O page, What other risks do directors and officers face? section. |
| Claims Support | 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. 4Company-reported. D&O product page as read 2026-09-23. | Not described in the reviewed sources. |
Full Comparison
More Lockton vs Marsh Comparisons
Other D&O Insurance Comparisons
Sources
Lockton
- Lockton United States. Lockton; Opening description of independent insurance brokerage for risk, benefits and retirement; Ask an Expert link to contact-us. Accessed 2026-09-16.
- Technology. Lockton; Industry introduction; cyber liability heading; dedicated technology team; listed services including claims advocacy, contract review, directors and officers liability, and international program design; 24/7 service model. Accessed 2026-09-16.
- US Terms of Business. Lockton; Opening entity definition; Surplus Lines; Use of a Particular Insurer; Compensation Disclosure; servicing, claims handling and renewal language in Confidentiality section; Intermediaries. Accessed 2026-09-16.
- D&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.
Marsh
- Marsh | Leader in risk, strategy, people, and investments. 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.
- Compensation guide for US clients. 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.
- Marsh McLennan Agency (MMA). Marsh; Middle-market US organizations; wholly-owned subsidiary; business insurance, employee health and benefits, retirement, private client. Accessed 2026-09-16.
- Technology | Insurance Broking & Risk Management. Marsh; Opening Technology Practice description; practice links including data center insurance, fintech and Stratus; Talk to us. Accessed 2026-09-16.
- Directors and Officers Liability (D&O). 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.
- Expert Executive and Professional Liability Insurance. 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
- Glossary of Business Insurance Terms. The Hartford; Directors and Officers Liability Insurance; Errors and Omissions Insurance; Employment Practices Liability Insurance. Accessed 2026-09-16.
