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Best D&O Insurance for Pre-IPO SaaS Companies Backed by Tier-1 Vcs

Published: December 9, 2025

Executive Summary

We analyzed 5 solutions. Top Recommendation: Pre-IPO Tech & SaaS D&O Program by Woodruff Sawyer (a Gallagher company) scored highest.

5 Companies Listed
1

Specialist D&O brokerage program for companies moving toward an IPO, with deep experience structuring Side A/B/C towers for high-growth technology and SaaS issuers listing in the US and globally.

Key Features:

  • Market-leading D&O placement for IPO-bound companies, including tech and SaaS issuers
  • Coverage designed for securities class actions, Section 11 claims, and post-IPO stock drop litigation
  • Advisory around pre-, during-, and post-IPO risk, including prospectus disclosures and roadshow exposure
  • Ability to coordinate Side A-only excess layers to protect individual directors from catastrophic claims
  • Dedicated tech and life-sciences practice with benchmarking data for late-stage VC-backed rounds
2

IPO D&O Program with Investment Bank Indemnification Enhancement

marsh.com/en/services/financial-professional-liability/expertise/initial-public-offerings.html

Global D&O program for companies preparing an IPO, including a newer enhancement that helps cover a company’s indemnification obligations to investment banks involved in the offering.

Key Features:

  • Comprehensive D&O program design for pre-, during-, and post-IPO phases, including roadshow and failed IPO considerations
  • Special enhancement to address indemnification obligations owed to investment banks named as co-defendants in IPO-related suits
  • Deep expertise in securities litigation trends, including concurrent state and federal Section 11 claims
  • Access to global insurer panels and benchmarking data for high-growth tech and SaaS IPOs
  • Integration with broader FINPRO advisory for governance, disclosure, and ESG-related litigation risk
3

Data-driven D&O brokerage program focused on high-growth, venture-backed companies and public-company transitions, with tailored coverage for funding rounds, complex cap tables, and tech-sector regulatory scrutiny.

Key Features:

  • Specialized focus on venture-backed companies preparing for institutional funding rounds and eventual IPOs
  • Tailored D&O programs that protect directors, officers, and the corporate balance sheet from management and securities claims
  • Ability to structure Side A excess layers, rights offerings, and other enhancements common in late-stage tech financings
  • Streamlined online intake combined with access to specialist brokers who understand startup governance and term-sheet requirements
  • Rich library of D&O insights, pricing trend reports, and pre-IPO checklists for high-growth tech and SaaS companies
4

Embroker Startup D&O (Seed-to-IPO Package)

embroker.com/coverage/startup-insurance/

Startup-focused insurance package that includes market-leading D&O coverage bundled with EPLI and tech E&O, designed for VC-funded startups from early stages through growth and into the IPO window.

Key Features:

  • Seed-to-IPO startup package that combines D&O, EPLI, and tech E&O including cyber under one digital program
  • Coverage and pricing benchmarks specifically calibrated for VC-funded startups with funding up to $250M+
  • Online quote and bind process plus a startup insurance calculator to estimate costs by funding and revenue stage
  • Strong fit for SaaS, fintech, AI, and other venture-backed tech verticals with heavy contractual and regulatory risk
  • Ability to tailor Side A/B/C structure and integrate with other lines like cyber and key person insurance
5

Startup D&O for High-Growth SaaS

vouch.us/coverages/directors-and-officers

Digital-first D&O coverage engineered specifically for startups and high-growth tech companies, including protections for investor disputes, IP litigation, and regulatory investigations as they scale toward an eventual IPO.

Key Features:

  • Purpose-built D&O wording for startups, including coverage for investor infighting, IP disputes, SEC subpoenas, and cap table disputes
  • Fully digital application and policy management with the ability to activate coverage in as little as 24 hours for many startups
  • Coverage designed to scale from formation through later stages and eventual IPO readiness
  • Tight integration with the broader Vouch startup package (E&O, cyber, EPLI, AI liability) for SaaS risk stacks
  • Backed by highly rated carriers and embedded in the broader US venture ecosystem via partners like YC, Carta, and Brex