RSA Insurance has announced the launch of a new Directors’ and Officers’ (D&O) protection product, expanding its Professional and Financial Risks (Profin) offerings. This product, according to a Press release, is designed to protect business owners, executives, and senior managers from potential losses and legal costs stemming from management liability disputes.
The newly introduced D&O product targets UK-based companies, including large domestic firms, multinational businesses, private companies with turnover exceeding £250 million, and publicly traded companies. Brokers and clients can access the product through RSA’s commercial lines and mid-market business channels.
This launch follows a series of updates and new offerings from RSA, the release noted. The company previously refreshed its Management Liability product and introduced other financial risk products, such as the Design and Construct Professional Indemnity product in October and the Pension Trustee Liability product in September.
Matt Houghton, head of financial risks at RSA Insurance, highlighted in the statement the importance of protecting senior management during uncertain times.
“We find ourselves living in a challenging and uncertain time. Senior management make decisions on a daily basis that can be open to question at a future date. At its heart, a D&O policy is designed to protect and support these individuals, and the launch of this product means that we can now cover those insureds that manage the largest companies,” Houghton said.
This new D&O offering is part of RSA’s effort to address evolving risks in the business world, noted the news release. Houghton noted that this product reflects RSA’s dedication to improving its portfolio, in line with its parent company Intact’s focus on customer-centric solutions.
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