Lockton vs WithCoverage

Lockton’s US site describes the firm as an independent insurance brokerage that arranges customized risk, employee benefits and retirement solutions. US Terms of Business treat Lockton Companies, LLC and affiliated Lockton companies as intermediaries that market, place and service insurance, not as the risk-bearing insurer on a placed policy. ^1,13,20

Public US terms name Lockton Companies, LLC (and Series, subsidiaries and affiliates) as the brokerage group and Lockton, Inc. as the website operator. Certificates produced by Lockton also use the California DBA Lockton Insurance Brokers, LLC. Confirm the legal name on any broker-of-record or services agreement; these pages do not by themselves establish which entity would be appointed for a California company. ^13,14,21

Lockton-produced certificates print California license number 0F15767 for Lockton Companies, LLC DBA Lockton Insurance Brokers, LLC. Current license status, classes and expiration remain independently unverified. Treat California producer authority as unresolved until a regulator record or the proposed engagement papers are checked. ^21,22

WithCoverage combines commercial insurance brokerage, a risk-management team and software for growing businesses. You can have existing policies reviewed, compare insurance options and manage the program with its team. ^23,24,31

The terms name With Coverage Inc. and With Coverage Insurance Services LLC. The latter also appears in a Mississippi corporate filing under insurance agencies and brokerages. These identify the business entities; the terms assign policy obligations to the issuing insurer. ^25,36

Public US application starts as an inquiry: the US contact form (Ask an Expert) and industry pages invite buyers to connect with a team. The privacy notice refers to soliciting an insurance policy quote. The Cyber & Technology page publishes cyber@lockton.com. Reviewed pages do not describe a self-serve bind flow, published quote turnaround, or an unauthenticated online application that issues a policy without a Lockton representative. ^12,1,15,3,14

WithCoverage offers an initial policy audit without requiring you to leave your broker. It says the review compares existing coverage, limits and premiums with market benchmarks. Its technology FAQ puts the assessment at usually one business day after receiving policy documents, with longer timing for multiple entities or locations. ²⁶

The public review form starts with contact details and then asks about the company, industry and annual insurance spending. It requests a conversation about your program; it does not display an insurance price. ²⁶

The portfolio page describes appointing WithCoverage on existing policies by signing a broker-of-record letter. This changes your broker, not the policy itself. The page says the transfer has no additional charge. ³²

For its portfolio offering, WithCoverage describes a digital application transferred into insurers’ applications and an advisor-prepared comparison of options. ³²

At the time of research, the page linked as Privacy Policy displayed the terms-of-service text rather than a separate detailed privacy notice. Before sharing policy or claims files, request the applicable privacy notice and document-retention terms. ³⁷

US Terms of Business say Lockton may be paid insurer commissions (a percentage of premium), negotiated client fees in lieu of or in addition to commissions, additional compensation such as contingent or supplemental commissions, insurer service fees (including for some managing-general-agency or analytics work), compensation involving affiliate Lockton Re, LLC on reinsurance placements, and interest or premium-finance related income. Commissions are described as fully earned at inception unless law or insurer contracts say otherwise. The terms tell clients to ask their Lockton representative for account-specific compensation. No public fee schedule, commission percentages or typical startup pricing appears on the reviewed pages. ¹³

WithCoverage says it typically agrees a flat fee before work begins, so compensation does not rise with the premium. Its consumer FAQ also allows commission-based arrangements. The public pages do not give a standard fee amount. ²⁷

The terms allow premiums, commissions, installment, service, cancellation and flat fees disclosed with the service. A flat advisory fee therefore should not be read as an all-inclusive insurance price. ²⁵

The solution page advertises average savings of 20–40% for clients spending over $1 million annually on insurance and risk-management services. It does not provide the sample size, measurement period or calculation needed to establish a comparable result for your business. ³⁰

Industry pages show the same 20–40% figure as annual policy savings without repeating the solution page’s spending threshold. The broader presentation does not establish savings for smaller accounts. ^30,26,27

Casualty pages say the same dedicated service team stays with the client through the process. Technology pages describe a round-the-clock service model. Terms of Business cover day-to-day servicing, risk control, insurance renewal services, policy administration and the use of intermediaries (including Lockton affiliates) in servicing and placement. Property pages say the team that meets the client also negotiates with markets rather than a remote broking center. A public client-portal feature list was not established beyond a Lockton Portal login link on the US site. ^5,2,13,6,1

WithCoverage describes a named risk manager backed by attorneys and claims specialists, handling renewals, certificates of insurance and account questions. Its platform brings policies, claims, certificates, exposures and renewal communications together. ^29,23

The portfolio page says WithCoverage is not a law firm and does not provide legal services. Confirm what its attorneys’ involvement includes. ³²

The portfolio page promises no fee to end its broker-of-record appointment and data return on request. Confirm the service agreement and separate policy cancellation charges. ^32,25

Its advisor recruitment materials describe contract changes and larger deductibles as possible strategies. Ask which risks the proposal leaves with your business. ³³

Lockton describes claims advocacy as a service, not as the insurer paying claims. Technology, D&O and fiduciary pages say a Professional & Executive Risk Claims team, including insurance and claims counsel, is integrated with the broking team and that claims advocacy is not treated as a profit center. Loss-prevention pages describe claims consulting: investigations, mapping facts to policies, preparing presentations, and discussions with insurer lawyers and loss adjusters. Workers’ compensation pages mention claims service advocates. Terms of Business include claims handling and claims processing among Lockton’s intermediary services and state Lockton is not responsible for an insurer’s solvency or willingness to pay. These descriptions do not establish claims outcomes or handling quality. ^{2,4,9,11,7,13}

WithCoverage says its claims team, including attorneys, manages the claims process and recommends changes to reduce future exposure. That assistance is separate from the issuing insurer’s policy obligations and does not establish claims-payment speed or outcomes. ^30,25