In this article, I outline the top D&O insurance providers for founders. I’ll provide many options with some of the main coverage features and benefits, as well as explain the pricing and costs associated with the policies.
Whether you’re an entrepreneur with a small business, or a founder of a large corporation, this article will help you choose the best insurance plan for your company.
What is D&O insurance for founders?
Directors and Officers (D&O) insurance protects a company’s directors and officers and, in some cases, the company, against certain court claims.
Those claims usually relate to the management of the business. D&O insurance usually provides coverage for defense costs, settlements, and other costs covered by the policy after the exclusions.
Key Points & Best D&O Insurance Providers for Founders
- Embroker: Best overall for venture-backed startups needing comprehensive management liability coverage.
- Vouch: Ideal for early-stage software and SaaS startups seeking fast, technology-focused insurance coverage.
- Corgi: Great for AI startups needing customized protection against machine-learning and algorithm-related risks.
- Next Insurance: Best for founders wanting quick, basic liability coverage through simple self-service policies.
- Chubb: Best for Series A+ startups facing complex risks and requiring highly rated insurance protection.
- Hiscox: Best for pre-seed and seed startups needing fast online binding and straightforward insurance policies.
- The Hartford: Best for startups with limited budgets seeking affordable, bundled basic business insurance coverage.
- CNA: Strong choice for growing professional-services firms needing reliable mid-market insurance coverage.
- Travelers: Excellent for startups prioritizing consistent claims handling and employment-related D&O protection.
- AXIS: Frequently recommended for Series A startups requiring strong investor-mandated insurance coverage quality.
10 Best D&O Insurance Providers for Founders
1. Embroker
Embroker has it all — venture-backed startups can take care of D&O insurance coverages and other necessary management and professional liability insurance coverages, including E&O and cyber insurance, all in one place.
Matt Miller started Embroker in 2015 to better tech-driven business insurance. Embroker’s model will likely appeal to founders who want to consolidate multiple insurance policies into one system.
In 2016, Embroker launched the first technology-driven business insurance model where companies are able to easily apply for, and manage, insurance policies on their own.
| Feature | Details |
|---|---|
| Venture-backed focus | Designed with the needs of growing startups in mind. |
| Management liability | Offers comprehensive protection for management-related risks. |
| Customization | Coverage can be tailored to a startup’s specific needs. |
| Digital experience | Provides a streamlined online insurance experience. |
| Best for | Venture-backed startups seeking broad D&O protection. |
2. Vouch
Vouch’s target market is startups and technology companies, making it ideal for software companies and SaaS, fintech, and other technology companies. Vouch was founded in 2018 by Sam Hodges and Travis Hedge.
The founding team has experience in insurance, fintech, banking, and technology. After the completion of the Y Combinator Summer 2019 program
Vouch offered its first insurance offering for technology startups. Vouch offers policies designed for technology startups, as opposed to traditional policies for small businesses.
| Feature | Details |
|---|---|
| Startup-focused | Built specifically around the needs of modern startups. |
| Technology expertise | Particularly suitable for software and SaaS companies. |
| Fast process | Streamlines the process of obtaining coverage. |
| Flexible coverage | Offers insurance options designed for different growth stages. |
| Best for | Early-stage technology startups wanting convenient coverage. |
3. Corgi
Innovative Insurance for AI Startups and Several Emerging Technology Risks Corgi is a new insurance provider constructed for and specializes in supporting startups, specifically focused on AI and emerging technologies.
The founders Nico Laqua and Emily Yuan launched the company in 2024 and then joined Y Combinator’s Summer 2024 batch. Upon receipt of regulatory approval in July 2025, Corgi launched a new
AI proprietary technology platform offering D&O insurance alongside E&O, Cyber, EPL and other insurance coverages focused on startups. For AI founders, addressing and evaluating new risks and exposures that this type of underwriting platform will support will be of significant interest.
| Feature | Details |
|---|---|
| AI-focused | Designed to address emerging risks faced by AI companies. |
| Customized protection | Can accommodate specialized technology-related exposures. |
| Algorithm risks | Helps address concerns surrounding algorithm-driven businesses. |
| Startup-friendly | Suitable for innovative companies with evolving risk profiles. |
| Best for | AI startups seeking specialized D&O protection. |
4. NEXT Insurance
if Founders are looking for straight forward self-service convenient and fast coverage of their businesses, NEXT Insurance is the best option.
Guy Goldstein, Alon Huri, and Nissim Tapiro founded the company in 2016, as they discovered a challenging market for simple, small business insurance coverage.
NEXT Insurance offered a digital platform specifically designed to streamline the process of buying insurance coverage and continue managing the purchased insurance coverage. In 2025, ERGO acquired NEXT Insurance, and the company is now known as ERGO NEXT Insurance.
This insurance company’s coverage is adequate for founders needing basic business insurance, but startups should verify that the coverage is applicable to the “carried” D&O insurance.
| Feature | Details |
|---|---|
| Simple policies | Makes business insurance easier for founders to understand. |
| Online purchasing | Provides a convenient digital insurance experience. |
| Quick access | Suitable for founders who want coverage without a lengthy process. |
| Basic protection | Focuses on straightforward business insurance needs. |
| Best for | Founders seeking simple and accessible coverage. |
5. Chubb
Best for Complex Risks at Series A+ Chubb works best with larger startups and organizations whose insurance needs evolve as they receive late-stage venture capital and operate globally. The roots of Chubb date back to 1792.
The Chubb Corporation was founded by Thomas and Percy Chubb in 1882 with the establishment of a marine underwriting business in New York. In 2016, ACE Limited acquired the Chubb Corporation and adopted the Chubb name globally.
One of the factors that differentiates Chubb is financial strength. In January 2026, AM Best confirmed an A++ Superior financial strength rating for Chubb’s rated insurance subsidiaries.
| Feature | Details |
|---|---|
| Established insurer | Offers extensive experience in commercial insurance. |
| Complex risks | Well suited to businesses with sophisticated insurance requirements. |
| Broad capabilities | Provides a wide range of business insurance solutions. |
| Growth-stage suitability | Appropriate for companies becoming more established. |
| Best for | Series A+ startups with complex risk exposures. |
6. Hiscox
Hiscox is a good choice for startups in the pre-seed and seed stages who want simpler insurance. Hiscox’s roots go back to 1901, and they began with A.E. Roberts offering services as a marine underwriter at Lloyd’s.
From there, Hiscox started offering specialized commercial insurance. By 2006, Hiscox USA was founded and began serving the small and medium size business specialized insurance market.
Having that much experience in underwriting makes Hiscox a company with a lot of experience and also appealing for a first time founder of an early-stage business, since Hiscox focuses on small businesses.
| Feature | Details |
|---|---|
| Startup suitability | Offers solutions that can work well for smaller businesses. |
| Online experience | Provides convenient digital insurance services. |
| Straightforward process | Designed to make obtaining coverage easier. |
| Flexible options | Offers different coverage solutions based on business needs. |
| Best for | Pre-seed and seed-stage startups seeking simple coverage. |
7. The Hartford
Founded as a Connecticut fire insurance company in 1810, The Hartford is a company with a track record. They have insurance bundles that a founder might find useful to cover the basics.
Their history includes multiple major payouts and tolerably high discrimination in coverage, starting with their 1835 settlement of the New York Financial District fire claim.
These shows an early focus on claims and protection of their policyholders. It is also worth noting their highly affordable and bundled business insurance.
These make The Hartford a good choice of insurers for early stage founders who are not as concerned about venture backed D&O Insurance.
| Feature | Details |
|---|---|
| Budget-friendly | Can be attractive to startups watching insurance costs. |
| Bundled coverage | Offers multiple business insurance options. |
| Small-business focus | Provides solutions for smaller and growing businesses. |
| Basic protection | Suitable for companies with straightforward insurance needs. |
| Best for | Budget-conscious founders seeking bundled business coverage |
8. CNA
A Superior Option for Professional Service Companies and Growing Companies: CNA has a niche market among professional service companies and companies that are experiencing rapid growth requiring a broader management and professional liability insurance.
Founded in 1897 and headquartered in Chicago since 1900, CNA has a rich history. CNA offers property and casualty insurance and offers management and professional liability insurance, including D&O, E&O, employment practice liability, fiduciary liability, and crime and cyber coverage.
Currently, CNA’s management liability insurance is designed for the specific needs of private and public companies and non-profit organizations. CNA’s insurance services cater to smaller and medium sized companies.
| Feature | Details |
|---|---|
| Professional services | Particularly relevant for professional-services businesses. |
| Mid-market expertise | Provides insurance solutions for growing companies. |
| Business protection | Offers coverage options for various commercial risks. |
| Industry experience | Has experience serving specialized business sectors. |
| Best for | Growing professional-services firms needing reliable coverage |
9. Travelers
Travelers is one of the leading property and casualty insurance companies providing services for management and professional liability. Travelers was organized on April 1, 1864, when James G.
Batterson established Travelers to provide the first accident insurance coverage in the United States. Travelers later combined with St. Paul Companies in 2004 to form St.
Paul Travelers and accepted the name Travelers in 2007. Today, Travelers’ management liability coverage includes D&O, cyber, E&O, and employment practices and fiduciary liabilities
Along with specialized coverage and is well suited to address the needs of companies that face more complex management liability risks.
| Feature | Details |
|---|---|
| Claims support | Known for its established claims-handling capabilities. |
| D&O protection | Provides coverage options addressing management-related exposures. |
| Employment risks | Can address certain employment-related liability concerns. |
| Business experience | Serves businesses across a broad range of industries. |
| Best for | Startups prioritizing claims support and employment-related protection. |
10. AXIS
AXIS becomes relevant for startups as the risk profile builds and large management-liability protection becomes necessary.
AXIS Specialty Limited began operations in Bermuda in November of 2001 following major disruptions in global insurance and reinsurance markets caused by the September 11 attacks.
AXIS was founded with $1.686 billion by John Charman and Robert J. Newhouse Jr. and began operations as a global specialty insurer and reinsurer. AXIS’s specialty underwriting practice has made it relevant for companies with complex or unusual exposures.
| Feature | Details |
|---|---|
| Specialty insurance | Focuses heavily on complex and specialty commercial risks. |
| D&O expertise | Provides management liability insurance solutions. |
| Investor requirements | Can be suitable when investors require robust coverage. |
| Growth-stage fit | Appropriate for startups progressing through funding rounds. |
| Best for | Series A startups seeking strong D&O coverage quality |
Conclusion
In conclusion, the right choice of D&O insurance provider can help founders and their businesses avoid financial and legal issues. The company’s size, budget, industry, and coverage required can determine the best insurance provider.
A comparison of policy limits, premiums, exclusions, and claims support can give protection to founders for the future of their businesses and help relieve the anxiety that comes from running a business.
FAQ
Why do startup founders need D&O insurance?
Founders can face personal exposure from shareholder disputes, allegations of breach of fiduciary duty, investor claims, regulatory investigations, and other management-related allegations.
What are the best D&O insurance providers for founders?
Some of the providers and startup-focused insurance platforms commonly considered by founders include Chubb, AIG, Hiscox, Travelers, Beazley, AXIS, Embroker, Vouch, Founder Shield, and Corgi.
How much does D&O insurance cost for a startup?
D&O premiums vary considerably based on factors such as funding stage, revenue, industry, claims history, geographic exposure, and policy limits.
When should founders buy D&O insurance?
Founders should consider D&O insurance before bringing outside investors or independent directors onto the board.
