Non-Executive Directors (NEDs) bring a distinct perspective to the corporate table, usually steering clear of day-to-day operations and providing invaluable objectivity. Unlike the executive, who are immersed in the tactical hustle, NEDs stand as guardians of strategic vision, offering independent oversight and strategic foresight.
NEDs are under more intense scrutiny than ever and are equally as exposed to claims as the executive. When there is a claim, the divergence of responsibilities between the executive and the NEDs can lead to challenges for the NEDs within the context of the company’s D&O Insurance.
Much like standard D&O insurance, the NED Protect policy protects NEDs against claims arising from decisions and acts undertaken as part of their duties.
Additionally, NED Protect resolves the problems that can arise specifically for NEDs when there is a claim, providing assurance and protection to NEDs, when the company and its D&O insurers are not able to do so.
NED Protect
D&O Insurance for Non-Executive Directors by Rising Edge.
Sleep easy, ring-fenced, standalone coverage designed to protect individual non-executive directors when all else fails. Provided with Rising Edge’s focus on accuracy, speed and fair value.
Problem: Erosion of D&O policy limits by the executive, and the company.
Solution: A ringfenced, dedicated policy limit available to the individual NED.
Problem: Refusal by the company to indemnify, and refusal by the company’s D&O insurer to pay for whatever reason.
Solution: Coverage under NED Protect triggered.
Problem: Confidentiality when the NED has concerns.
Solution: A free hour consultation with an internationally renowned and respected law firm.
Problem: Long, complicated D&O policy which is difficult to understand.
Solution: Simple D&O policy which is easy to follow, and use.
Problem: Exclusions which restrict coverage for individuals.
Solution: *No unnecessary exclusions.
Problem: Inability to conduct defence due to arrest or deportation.
Solution: Handover conduct to the insurer (in collaboration with your lawyer).
Problem: Multiple NED appointments.
Solution: All appointments included under a single policy.
Problem: Conflict of interest between the NED and the company and/or the executive.
Solution: Access to a policy with a dedicated insurer, free from any conflict with the company and/or executive.
Problem: Leaving the company, and the company’s D&O policy lapsing. ‘Bad leaver’?
Solution: Six years extended reporting period for claims following a departure for any reason.
To make a submission contact
Yoel Brightman
or use the Proposal Form.
Documentation
This web–page provides a summary of cover only. For full details of the policy coverage, please refer to the policy wording.