National · 5 min read
When a term sheet lands and your lead investor's counsel asks for proof of directors and officers coverage, you don't have weeks to research the market. You need d and o insurance quotes that are fast, accurate, and from carriers that actually understand venture-backed companies. That's exactly what OnePark Risk does. We're a brokerage built for early-stage tech — cyber, tech E&O, and D&O for seed through Series C companies in New York, California, Boston, and across the country — and we can typically have competitive quotes in your inbox within a few business days. Here's when you need D&O, what we'll ask you for, and how the quoting process works from first call to bound policy.
Most founders buy D&O for the first time at one of these moments: A priced round is closing. Term sheets from institutional VCs almost always include a covenant requiring D&O coverage at or shortly after closing, often with a specified minimum limit. A new board seat is being filled. Experienced investors and independent directors generally won't join a board without D&O protection in place — it's how their personal assets are shielded from claims arising out of board service. Investor side letters or financing documents require it. Many stock purchase agreements obligate the company to maintain D&O insurance for as long as the investor holds shares or a board seat. You're recruiting executives. Senior hires from larger companies increasingly ask whether D&O is in place before signing. Things are getting real. Layoffs, a down round, an acquisition conversation, or a regulatory inquiry all dramatically raise the value of having coverage already bound — policies respond to claims made during the policy period, so waiting until trouble appears is too late. If you're earlier in the research process, our founder's guide to directors and officers insurance explains what the coverage actually does and why investors insist on it.
The good news: for seed and Series A companies, the application is light. Underwriters at startup-focused carriers typically want: Company basics — legal name, state of incorporation, website, headcount, and a short description of what you do Capitalization summary — total raised, most recent round and valuation, and major investors Current financials — usually a recent balance sheet and income statement, or at minimum cash position, burn, and runway Board composition — who sits on the board and which seats are investor or independent Claims history — any prior lawsuits, demands, or known circumstances involving the company or its officers Desired limit — often dictated by your financing documents (commonly $1M–$3M at Series A) Later-stage companies should expect requests for audited or reviewed financials and governance documents. Either way, a complete submission is the single biggest driver of fast turnaround and sharp pricing — underwriters quote confidently when nothing is missing.