Should I use a specialist or a generalist insurance broker?
It depends on how unusual your risks are. A generalist broker can serve a straightforward business that needs standard coverage like general liability, property, or workers’ compensation. A specialist makes more sense when the coverage turns on details a standard form doesn’t settle: several funds and entities, partners on outside boards, investor requirements, or a deal with a closing date. Cilantro specializes in investment firms and startups. If your needs are simple and your current broker answers your questions, you may not need to switch.
When a generalist is enough
If your business is simple, your coverage is mostly standard, and your broker answers your questions promptly, a generalist can serve you well. Standard coverage is easier to compare, and the policy wording usually varies less from one insurer to the next.
When a specialist earns its place
Management liability for investment firms and venture-backed companies is different. D&O, E&O, cyber, and crime policies are written on forms that vary by insurer, and the details decide what is covered: which entities are named, which roles count, whether coverages share a limit, and what happens when ownership changes.
A specialist broker knows which of those details matter for a business like yours and asks about them before you buy. The questions we raise most often:
- Are all your funds, entities, and vehicles named on the policy?
- Do partners or officers sit on outside boards?
- Do D&O and E&O share one limit?
- What happens to coverage at a funding round, acquisition, or sale?
How Cilantro works
We read your policies, tell you in plain English what you have and what’s missing, and go to insurers for terms that fit. We set quotes side by side, including the fine print, so you can decide with a broker’s advice.
We also handle the rest of your insurance, so you don’t need one broker for management liability and another for everything else.
Switching brokers
Changing brokers doesn’t mean changing policies. A new broker can usually review your current program now and take it over at renewal, and your coverage stays in place in the meantime.