Random thought here but the name Redguard derives from Ra'gada and that sounds like the name of a sailing race, called a regata. Redguards are known as skilled sailors, if the pronunciation is the name then that was pretty clever of the creators of the Lore.
Whilst your reply is off topic it was perfect. On another forum I've been told that apparently they don't have an insignia. Considering i was looking for something either location specific or person specific, you've just reminded me that the for the fan fiction im writing the insignia of a ship would be perfect as my characters are pirates. Thanks
P.S. there are plenty of intelligent references like that if you look close. They are cool like that