There is more expectation, more complexity and more scrutiny and exposure for Non-Executive Directors (NEDs) in today’s climate than ever before. Rising Edge are introducing a new product, NED Protect, which has been created to address the unique gaps and challenges that can arise for NEDs when there is a claim. It is there to enhance a current D&O policy, rather than replace it.
NED Protect has similarities to how a Side A policy behaves, however, it is specifically targeted to Non-Executive Directors (NEDs) and has a lot of extra bells and whistles than your standard Side A.
Product highlights
- Purchased by the company.
- One master policy and individual ringfenced policies for each individual NED. This means they have comfort to know they are always fully protected, should they need it.
- Coverage can be triggered by the company’s D&O insurer’s refusal to pay, for whatever reason.
- Covers NED for role at the purchasing company and all other NED positions, including new appointments during the policy period.
- Covers non-indemnifiable loss where the company’s D&O insurers do not agree to pay within 45 days.
- 6 years' extended reporting period for claims following departure for any reason from Company.
To learn more about this product, or if you have any questions or submissions, please contact one of the team below. Alternatively, click here to find out more.
Jaime Hutton-Southgate, Divisional Director – Head of Worldwide D&O
E: jaime.hutton-southgate@amwins.com
T: +44 (0)7824 415 536
Sasha Kerridge, Divisional Director
E: sasha.kerridge@amwins.com
T: +44 (0)7990 001 042
