Rising Edge recently announced the expansion of its commercial directors and officers (D&O) insurance portfolio, unveiling a specialized D&O insurance product tailored for non-executive directors (NEDs), a segment facing unique risks and challenges in the corporate world.
Named NED Protect, this product provides exclusive Side A D&O coverage with distinct policy limits catering to individual NEDs. This bespoke insurance solution is structured to offer enhanced protection, recognizing the distinct position NEDs hold on corporate boards.
Key features of NED Protect include coverage spanning 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.
Rising Edge’s insurance products are supported by AM Best A- A-rated underwriting capacity. Furthermore, the company operates under UK and European regulated insurance licenses, ensuring compliance and reliability in its offerings.
“Modern corporate governance standards mean that NEDs are facing higher expectations and increased scrutiny in their roles on corporate boards. Ultimately, it is their personal liability that is engaged. In response to these heightened risks, we have developed a product specifically designed for NEDs, providing an extra level of protection in addition to what they may receive from standard D&O coverage,” said Rising Edge Managing Director and Head of Underwriting, Yoel Brightman.