RSA Insurance, a leading provider of insurance products and services, has launched a new financial risks product called Directors’ and Officers’ (D&O) Protection.
The introduction of this product strengthens RSA’s existing Professional and Financial Risks (Profin) portfolio, reinforcing its market leadership in this area.
The launch of the D&O product is a response to the growing need for companies to protect their senior management from legal liabilities and management-related disputes.
As businesses face increasingly complex risks in uncertain economic times, there is a rising demand for insurance solutions that safeguard business leaders from personal financial exposure.
RSA Insurance offers a wide range of commercial and personal insurance products and services. With a focus on sectors such as property, casualty, motor, and marine, RSA provides tailored insurance solutions to meet the evolving needs of businesses across the UK and internationally.
The newly launched D&O Protection product is specifically designed for UK domiciled or headquartered companies, large domestic and multinational businesses, as well as private companies with a turnover exceeding £250m and publicly traded companies.
The product offers coverage for senior executives and managers who may be held personally liable for management decisions, providing crucial protection against legal costs and financial losses. It is available to brokers and their clients through RSA’s Commercial Lines and Mid Market business.
The D&O product builds on RSA’s recent efforts to expand its financial risks offerings. This follows the refresh of its Management Liability product last year, alongside the launch of several other products, including 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, said, “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.”
He added, “I’m delighted to launch this new product, it builds on the work we did last year in refreshing our product suite and demonstrates RSA’s, and our parent Intact’s, commitment to continual improvement and fulfilling our customers’ needs.”
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