---
title: "Lockton vs Pie Insurance: Workers’ Compensation Insurance"
description: "Pie underwrites workers' compensation through its own carrier group, rated A- (Excellent) by AM Best. Lockton instead brokers the line, listing named specialty programs such as captive consulting and self-insurance design rather than underwriting it."
canonical: "https://spot.insure/compare/lockton-vs-pie-insurance/workers-compensation"
page-type: "line-comparison"
updated-at: "2026-09-23"
comparison-pair: "lockton-vs-pie-insurance"
provider-a: "lockton"
provider-b: "pie-insurance"
coverage-line: "workers-compensation"
---

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[Human-readable page](https://spot.insure/compare/lockton-vs-pie-insurance/workers-compensation)

## Agent Guide

**What this page is:** Focused comparison of Lockton and Pie Insurance for Workers’ Compensation 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 Workers’ Compensation Insurance questions about Lockton versus Pie Insurance. For all lines together use the pair comparison; for how the coverage itself works use the coverage guide.

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

**Key facts:**
- Line: Workers’ Compensation Insurance. Providers: Lockton and Pie Insurance.
- 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 2026-09-23.

**Related pages:**
- [Lockton vs Pie Insurance](https://spot.insure/compare/lockton-vs-pie-insurance) — all coverage lines for this pair
- [Workers’ Compensation Insurance guide](https://spot.insure/coverage/workers-compensation) — how this coverage works
- [Lockton profile](https://spot.insure/insurance-providers/lockton) — provider profile
- [Pie Insurance profile](https://spot.insure/insurance-providers/pie-insurance) — provider profile

# Lockton vs Pie Insurance: How Do They Compare for Workers’ Compensation Insurance?

Lockton, a broker, offers 100-plus markets, benchmarking and dedicated programs; Pie Insurance underwrites small-business workers' comp itself and quotes online from payroll and class codes.

Pie underwrites the policy itself through an AM Best-rated carrier group; Lockton brokers coverage with named specialty and self-insurance programs.

## Lockton vs Pie Insurance Workers’ Compensation Insurance Summary

Pie underwrites workers' compensation through its own carrier group, rated A- (Excellent) by AM Best. Lockton instead brokers the line, listing named specialty programs such as captive consulting and self-insurance design rather than underwriting it. [3](https://ratings.ambest.com/DisclosurePDF.aspx?AMBNum=12272&PCA=0 "AM Best Rating Disclosure Report — Pie Casualty Insurance Company") [1](https://global.lockton.com/us/en/products-services/workers-compensation "Workers' Compensation")

## What Are the Key Differences Between Lockton and Pie Insurance Workers’ Compensation Insurance?

### Who Carries the Risk

Pie carries the risk itself through its own carrier group instead of placing the line with outside insurers.

AM Best's disclosure report says Pie completed acquiring Pie Casualty Insurance Company in September 2021 and The Pie Insurance Company (formerly The American Insurance Company) in January 2023, and that beginning January 1, 2024, Pie writes 100% of its workers' compensation business through these two entities, part of the pooled Rating Unit 018981 Pie Insurance Group. AM Best affirmed Pie Casualty Insurance Company's Financial Strength Rating at A- (Excellent) and Long-Term Issuer Credit Rating at a- (Excellent), both with a stable outlook, effective April 24, 2026. [3](https://ratings.ambest.com/DisclosurePDF.aspx?AMBNum=12272&PCA=0 "AM Best Rating Disclosure Report — Pie Casualty Insurance Company") (Evidence: Verified; scope: AM Best rating disclosure report (AMB #012272, NAIC #10997) for Pie Casualty Insurance Company; a rating is an opinion of insurer financial strength, not a guarantee a claim will be paid, and reflects the pooled group rather than a standalone assessment of either entity..)

Lockton takes the broker's role instead, saying it designs and places programs through outside markets and describing itself explicitly as the broker rather than the insurer of record. [1](https://global.lockton.com/us/en/products-services/workers-compensation "Workers' Compensation")

### Standard Quote Versus Specialty Program Design

Pie advertises a roughly three-minute online quote using payroll and an automated class-code tool. [2](https://www.pieinsurance.com/workers-comp "Workers' Comp Insurance for Small Businesses") Lockton instead describes named specialty capabilities for larger or more complex risks: captive consulting and formation, Texas non-subscription, and Jones Act/USL&H programs for maritime exposures. [1](https://global.lockton.com/us/en/products-services/workers-compensation "Workers' Compensation")

## What Should You Confirm in Lockton and Pie Insurance Workers’ Compensation Insurance Quotes?

- Confirm Pie's current AM Best rating and effective date directly, since ratings can change after the reviewed report. [3](https://ratings.ambest.com/DisclosurePDF.aspx?AMBNum=12272&PCA=0 "AM Best Rating Disclosure Report — Pie Casualty Insurance Company")
- Ask Lockton which insurers it would access for your program, since its page describes market access broadly rather than naming carriers. [1](https://global.lockton.com/us/en/products-services/workers-compensation "Workers' Compensation")
- If your business needs a self-insurance or captive structure, ask whether Pie's standard policy offers a comparable alternative. [1](https://global.lockton.com/us/en/products-services/workers-compensation "Workers' Compensation")
- Ask about the post-term premium audit Pie describes and whether Lockton's placement includes a similar true-up. [2](https://www.pieinsurance.com/workers-comp "Workers' Comp Insurance for Small Businesses")

## Lockton vs Pie Insurance Workers’ Compensation Insurance Compared

| Criteria | Lockton Workers' Compensation Insurance Brokerage | Pie Workers' Comp Insurance |
| --- | --- | --- |
| Coverage Features | Lockton lists specialty workers' compensation capabilities: alternative risk expertise including captive consulting and formation, Texas non-subscription consulting, Jones Act/Outer Continental Shelf/USL&H programs for maritime and offshore exposures, trucking solutions including occupational accident programs, and qualified self-insurance consulting, implementation, administration, design and placement. [1](https://global.lockton.com/us/en/products-services/workers-compensation "Workers' Compensation") (Evidence: Company-reported; scope: Workers' Compensation product page as read 2026-09-23. A capability list, not a specimen policy..) | Pie describes workers' compensation as a state-mandated program providing medical, disability (typically two-thirds wage replacement), and death benefits for employees injured or killed on the job, while excluding injuries suffered off the job, self-inflicted injuries, policy violations, and injuries from committing a crime. [2](https://www.pieinsurance.com/workers-comp "Workers' Comp Insurance for Small Businesses") (Evidence: Company-reported; scope: Workers' Comp product page as read on 2026-09-23; actual covered/excluded scenarios depend on the issued policy and state law..) |
| Role in This Line | Lockton's workers' compensation team designs programs and analyzes their effectiveness through what it calls a strategic claims mitigation process; the team includes actuaries, claims advisors and safety specialists working alongside brokers. Lockton is the broker, not the insurer of record. [1](https://global.lockton.com/us/en/products-services/workers-compensation "Workers' Compensation") (Evidence: Company-reported; scope: Workers' Compensation product page as read 2026-09-23..) | Pie underwrites workers' compensation itself through its own carrier group, rather than only brokering the line to outside insurers as it does for several of its other small-business products. [2](https://www.pieinsurance.com/workers-comp "Workers' Comp Insurance for Small Businesses") (Evidence: Company-reported; scope: Workers' Comp product page as read on 2026-09-23; restates the provider record's verified insurer-route fact..) |
| Risk Services | Lockton says clients can access more than 100 regional, global and program workers' compensation markets, and it offers benchmarking through its InfoLock service. [1](https://global.lockton.com/us/en/products-services/workers-compensation "Workers' Compensation") (Evidence: Company-reported; scope: Workers' Compensation product page as read 2026-09-23..)<br><br>Lockton says it offers a full suite of safety services designed to reduce loss costs, OSHA consulting, loss forecasting and probability analysis, and claims service advocates to help ensure coverage and reduce retained loss costs. [1](https://global.lockton.com/us/en/products-services/workers-compensation "Workers' Compensation") (Evidence: Company-reported; scope: Workers' Compensation product page as read 2026-09-23..) | Pie says it can issue a Certificate of Insurance to show proof of workers' comp coverage, which it notes some industries, such as construction, require before work can begin, and that it performs a post-term premium audit comparing estimated to actual payroll. [2](https://www.pieinsurance.com/workers-comp "Workers' Comp Insurance for Small Businesses") (Evidence: Company-reported; scope: Workers' Comp product page FAQ as read on 2026-09-23..) |

## About Lockton and Pie Insurance and Workers’ Compensation Insurance

- [Lockton company profile](https://spot.insure/insurance-providers/lockton) · [Lockton customer reviews](https://spot.insure/insurance-providers/lockton/reviews)
- [Pie Insurance company profile](https://spot.insure/insurance-providers/pie-insurance) · [Pie Insurance customer reviews](https://spot.insure/insurance-providers/pie-insurance/reviews)
- [What Is Workers’ Compensation Insurance?](https://spot.insure/coverage/workers-compensation)

## Related Pages for Lockton vs Pie Insurance Workers’ Compensation

- [Lockton vs Pie Insurance](https://spot.insure/compare/lockton-vs-pie-insurance): all coverage lines, business roles, service and claims.
- [What Is Workers’ Compensation Insurance?](https://spot.insure/coverage/workers-compensation): Workers’ compensation can pay medical care, rehabilitation and lost wages after an employee’s work-related injury or illness; state rules determine who must be covered.
- [Lockton Workers’ Compensation Insurance](https://spot.insure/insurance-providers/lockton/workers-compensation)
- [Pie Insurance Workers’ Compensation Insurance](https://spot.insure/insurance-providers/pie-insurance/workers-compensation)

## Sources for Lockton vs Pie Insurance Workers’ Compensation Insurance

### Sources About Lockton

1. [Workers' Compensation](https://global.lockton.com/us/en/products-services/workers-compensation). Lockton; Empower your workforce to achieve your company goals; Access to a multitude of experts; list of workers' compensation expert services (100+ markets, InfoLock benchmarking, alternative risk/captive consulting, Texas non-subscription, Jones Act/OCS/USL&H, trucking occupational accident programs, self-insurance consulting, safety services, OSHA consulting, claims service advocates). Accessed 2026-09-23.

### Sources About Pie Insurance

2. [Workers' Comp Insurance for Small Businesses](https://www.pieinsurance.com/workers-comp). Pie Insurance; How do I get a workers' comp quote?; What is workers' comp insurance?; What does workers' compensation insurance cover?; Why choose Pie for workers' compensation insurance? Affordable, Simple, Trusted (AM Best A- Excellent); FAQs: how workers' comp works, what's covered/not covered, class codes, NCCI. Accessed 2026-09-23.
3. [AM Best Rating Disclosure Report — Pie Casualty Insurance Company](https://ratings.ambest.com/DisclosurePDF.aspx?AMBNum=12272&PCA=0). AM Best Rating Services, Inc.; Page 1: Financial Strength Rating A- (Excellent), Affiliation Code p (Pooled Rating), Financial Size Category VIII, Outlook Stable, Action Affirmed, Effective Date April 24, 2026; Long-Term Issuer Credit Rating a- (Excellent), same outlook and effective date; page 14 (Additional Regulatory Disclosures, Business Profile: Limited): Rating Unit 018981 Pie Insurance Group; Pie completed the acquisition of Pie Casualty Insurance Company (PCIC) in September 2021 and of The American Insurance Company, renamed The Pie Insurance Company (TPIC), on January 1, 2023; beginning January 1, 2024 Pie started writing 100% of its workers' compensation business through these insurance entities; Pie launched workers' compensation in March 2018 and continues to be a workers' compensation writer in 40 states and the District of Columbia. Accessed 2026-09-23.

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.

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- [Markdown page](https://spot.insure/compare/lockton-vs-pie-insurance/workers-compensation.md)
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