Bealzebub, just to be absolutely clear, I am in absolutely no need of anything of the sort, and I haven't sparked this up because I'm at the wrong side of anything like this - in fact I'd say my company is one of the most secure out there, although of course that can change in a heartbeat. In fact I would initially be disadvantaged by anything like this as I would have my command time extended - long term though it's something I'd want to have in the back pocket as a skipper.
I have always found it odd, however, that sideways movement is almost taboo in this industry. It's not a case of companies feeling sorry for you or being mollycoddled or anything of the sort, but of accepting that recruitment doesn't necessarily have to send you to the bottom of the pile - just the bottom of the captain's pile.
And I certainly don't find it bizarre that a company would employ a captain into that role as a preference over sending them back to the RHS for 10 years!