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

Lockton designs D&O programs, while Travelers insures D&O for private companies and sells coverage through independent agents.

Travelers writes its own D&O for private, public, financial-institution and nonprofit boards through independent agents; Lockton designs custom D&O programs across insurers and puts claims counsel on your team from the start. ^2,¹

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

One Insurer Through a Local Agent vs a Custom-Built Program

You buy Travelers D&O through an independent agent, standalone or with other management-liability coverage, and Travelers has a dedicated nonprofit version and a financial-institution track. Lockton designs a program across insurers, structuring Sides A, B and C and extending cover to trustees, contractors, volunteers, subsidiaries, spouses and estates. Choose Travelers if you're a nonprofit, bank or smaller company that wants one insurer through a local agent; choose Lockton if you're a larger or public company that needs a layered program built around you. ² ¹

Who Helps With a Claim

Lockton puts insurance and claims counsel inside your broking team from the start. Travelers' page describes what the policy pays (defense costs and settlements for securities suits, regulatory actions and fiduciary claims) and gives claim examples from roughly $85,000 to over $1 million, but not who supports you during a claim. ¹ ²

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

Ask your Travelers agent which form you're on (private, public, financial institution or nonprofit) and which Travelers company issues it. ²
Ask Lockton which insurers it would approach; its page names none. ¹
Ask both for limits and retentions in writing; neither publishes them. ¹ ²

Lockton vs Travelers D&O Insurance Compared

Lockton vs Travelers: D&O Insurance: documented features by provider

Criteria	Lockton Directors & Officers (D&O) Insurance Brokerage	Travelers Directors & Officers (D&O) Liability Insurance
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. ¹Company-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.	Travelers markets D&O coverage to private companies, public companies, financial institutions and nonprofit organizations with boards of directors, and offers a version specifically for nonprofit organizations. ²Company-reported. Product page "Who is D&O liability insurance right for?" section and nonprofit D&O video segment.
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). ¹Company-reported. D&O product page as read 2026-09-23. General educational description of program structure, not a specimen policy form.	Travelers says D&O insurance protects directors and officers from personal losses if sued by employees, vendors, customers or other parties, covering defense costs, settlements and other costs from wrongful-act allegations such as securities litigation, regulatory actions and breach-of-fiduciary-duty claims. ²Company-reported. Product page introduction and "Travelers knows Directors & Officers Liability Insurance" section; exact terms and exclusions are set by the issued policy.
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. ¹Company-reported. D&O product page as read 2026-09-23.	Travelers underwrites D&O liability insurance as part of its Management & Professional Liability line, sold standalone or alongside other management liability coverages. ²Company-reported. Product page general framing; confirmed against the broader Management and Professional Liability Insurance page.