Who insures it · 2 named markets · read 2026-10-28

Who insures Directors and officers for startups?

Directors and officers for startups is a risk most standard carriers decline on sight. The markets below say in their own published appetite or program pages that they write it; each line links to that page with the date it was read.

2 markets publicly write Directors and officers for startups: Vouch, Embroker. 1 MGA, 1 program administrator.

By Sam Alishahi, independent insurance broker

The markets

Who says they write it

From each market's own appetite, product or program page (or a trade article quoting it), read on the date shown. Appetites change: the linked page controls. A market listed here isn't necessarily one this agency is appointed with; a licensed broker reaches most of them directly or through a wholesaler.

Market	What they say they write	Where	Paper	Source
Vouch MGA	D&O coverage designed for venture-backed companies, integrated with other startup coverages; the page says Vouch is a licensed insurance producer and that products are underwritten by various insurance carriers, not by Vouch (site self-describes as an insurance broker; licensed for P&C and surplus lines in all 50 states and DC per its Licences page). “Vouch delivers D&O coverage designed specifically for the needs and pace of venture-backed companies.”	not stated (varies by state; licensed in all 50 states + DC)	not stated	vouch.us · read 2026-10-28
Embroker Program administrator	D&O for startups purchased through the proprietary Embroker Startup Package (its Funded Startups page offers a management insurance suite including D&O for venture-backed companies); the page does not state Embroker's licence role (broker vs. MGA). “For startups looking to buy Directors and Officers liability insurance”	not stated	not stated	embroker.com · read 2026-10-28

Role caveat: Vouch's and Embroker's own pages present them as broker/producer and proprietary-package seller respectively rather than stating an MGA or program-administrator role; both are listed because their pages state the startup/venture-backed D&O appetite, but verify the role before relying on them. No carrier page fetched names startups: Beazley private company D&O, Chubb management liability, CFC management liability, TMHCC financial & professional and Burns & Wilcox do not mention startups; The Hartford's D&O page timed out twice; Hiscox returned 403; USLI's start-up mention is for Te

How Directors and officers for startups gets placed

Standard markets first where any will look at it; when they won't, the placement goes through surplus lines, where a licensed surplus lines broker places it with an eligible non-admitted insurer and files the state's surplus lines tax and stamping forms. In California, risks on the Department of Insurance export list can go to surplus lines without the usual diligent search of admitted carriers. Surplus lines policies aren't backed by a state guaranty fund, so the insurer's financial rating matters more.

What an underwriter will want before quoting: a full description of the operation, years in business and the owners' experience, revenue or payroll, loss runs (five years where available, currently valued), the contracts or venue requirements that set the limits, and photos or safety plans where the hazard is physical.

I'm licensed in 49 states and Washington, DC and your request stays with my agency, not passed to another agent. In Florida, where my licenses are still being issued, a partner agency in your state helps in the meantime.

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