Rising Edge has announced the expansion of its commercial directors and officers (D&O) insurance portfolio, introducing a specialised D&O insurance product designed specifically for non-executive directors (NEDs), a segment that has unique risks and challenges in the corporate world.
The product, named NED Protect, offers exclusive Side A D&O coverage with distinct policy limits catering to individual NEDs. This bespoke insurance solution is structured to provide enhanced protection, acknowledging the distinct position NEDs hold on corporate boards.
Key features of NED Protect include coverage that spans multiple NED appointments, access to a legal advice hotline provided by Clyde & Co, an extended period for claim notifications, and a streamlined process for resolving disputes.
The provision of Rising Edge's insurance products is backed by AM Best A- A-rated underwriting capacity. Additionally, the company operates under UK and European regulated insurance licenses, ensuring compliance and reliability in its offerings.
“Modern corporate governance standards means that NEDs are facing higher expectations and increased scrutiny from their roles on corporate boards. In the end, it is their personal liability that is engaged. In response to these increased risks, we have developed a product specifically designed for NEDs, to give them that extra level of protection in addition to what they may get from standard D&O coverage,” Rising Edge managing director and head of underwriting Yoel Brightman said.
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