BRP Group, Inc. Announces New Exclusive Collaboration With Nasdaq to Offer D&O Insurance Solutions

Rhea-AI Summary

BRP Group (NASDAQ: BRP) announced a collaboration with Nasdaq to provide tailored D&O Liability Insurance programs for companies listed on the Nasdaq Stock Market via its subsidiary, AHT Insurance. This partnership aims to address the increasing costs of D&O insurance, particularly for IPOs and SPACs. Trevor Baldwin, BRP Group's CEO, expressed enthusiasm for the collaboration, highlighting the company's expertise in meeting the needs of high-growth companies.

AHT Insurance specializes in property and casualty, employee benefits, and has created innovative insurance solutions for Nasdaq-listed firms.

Positive

• Collaboration with Nasdaq enhances BRP's market position.
• Tailored D&O Liability Insurance targets high-growth companies.
• AHT's innovation may attract more Nasdaq clients.

Negative

• None.

TAMPA, Fla., June 17, 2021 (GLOBE NEWSWIRE) -- BRP Group, Inc. (“BRP Group” or the “Company”) (NASDAQ: BRP), a rapidly growing independent insurance distribution firm delivering tailored insurance solutions, today announced an exclusive collaboration with Nasdaq, to offer tailored D&O Liability Insurance programs and solutions for companies listed on Nasdaq through its subsidiary, AHT Insurance.

AHT Insurance provides property and casualty, employee benefits, retirement, personal and international services for clients. They have specialized expertise and experience in providing D&O insurance services. AHT has created innovative and exclusive programs for Nasdaq listed companies, IPOs, and SPACs that incorporate both corporate governance initiatives and unique captive insurance risk transfer solutions.

“We’re thrilled about our new collaboration with Nasdaq,” says Trevor Baldwin, BRP Group’s Chief Executive Officer. “BRP Group and AHT have deep expertise and experience in providing solutions that can meet the needs of the high-growth companies on The Nasdaq Stock Market.”

Mike Tomasulo, AHT’s National Management Liability practice leader added, “D&O Insurance has become a major budget item for public companies, especially IPOs & SPACs.  We understand that companies are looking for new and creative solutions to help them manage these increasing costs while also securing best in class coverage.”

ABOUT AHT INSURANCE

AHT is an insurance brokerage and consulting firm offering property and casualty, employee benefits, retirement, personal and international services for clients throughout the United States. We support numerous industries and boast national recognition for practices in areas, such as technology, manufacturing, government contracting and nonprofits. Learn more at www.ahtinsurance.com.

ABOUT BRP GROUP

BRP Group, Inc. (NASDAQ: BRP) is an independent insurance distribution firm delivering tailored insurance and risk management insights and solutions that give our clients the peace of mind to pursue their purpose, passion and dreams. We are innovating the industry by taking a holistic and tailored approach to risk management, insurance and employee benefits, and support our clients, Colleagues, Insurance Company Partners and communities through the deployment of vanguard resources and capital to drive our growth. BRP represents over 600,000 clients across the United States and internationally. For more information, please visit www.baldwinriskpartners.com.

NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release may contain various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which represent BRP Group’s expectations or beliefs concerning future events. Forward-looking statements are statements other than historical facts and may include statements that address future operating, financial or business performance or BRP Group’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may”, “might”, “will”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “projects”, “potential”, “outlook” or “continue”, or the negative of these terms or other comparable terminology. Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements.

Factors that could cause actual results or performance to differ from the expectations expressed or implied in such forward-looking statements include, but are not limited to, those described under the caption “Risk Factors” in BRP Group’s Annual Report on Form 10-K for the year ended December 31, 2020 and in BRP Group’s other filings with the SEC, which are available free of charge on the Securities and Exchange Commission's website at: www.sec.gov, including those risks and other factors relevant to the business, financial condition and results of operations of BRP Group and factors related to the potential effects of the COVID-19 pandemic on BRP Group’s business, financial condition and results of operations. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All forward-looking statements and all subsequent written and oral forward-looking statements attributable to BRP Group or to persons acting on behalf of BRP Group are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and BRP Group does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law.

Media Contact:
Rachel DeAngelo | 813.387.6842
rdeangelo@baldwinriskpartners.com

FAQ

What is the significance of BRP Group's collaboration with Nasdaq?

BRP Group's collaboration with Nasdaq aims to provide tailored D&O Liability Insurance, addressing the needs of high-growth companies listed on Nasdaq.

How does AHT Insurance contribute to BRP Group's services?

AHT Insurance provides expertise in D&O insurance and has designed unique solutions for Nasdaq-listed companies, helping BRP Group enhance its offerings.

What are the benefits of D&O Liability Insurance for Nasdaq-listed companies?

D&O Liability Insurance is crucial for protecting company executives against potential legal claims, thus managing increasing insurance costs associated with IPOs and SPACs.