BRP Group, Inc. Introduces Government Contracting Center of Excellence

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BRP Group, Inc. (NASDAQ: BRP) Establishes Government Contracting Center of Excellence (COE) to Provide Specialized Insurance Solutions for Federal Contractors

The dedicated practice offers clients access to unparalleled insurance expertise and solutions for P&C, employee benefits and retirement insurance needs

TAMPA, Fla.--(BUSINESS WIRE)-- BRP Group, Inc. (“BRP Group”) (NASDAQ: BRP) today announced the establishment of its newest national Center of Excellence (“COE”) — Government Contracting (“GovCon”) – to join the firm’s expanding portfolio of specialty practices.

The new practice launch is part of BRP Group’s intentional strategy of leveraging the deep expertise of its national network of risk management and insurance partnerships, and their experts and specialists, to make a greater difference for their clients’ business needs regardless of geographic location.

BRP Group’s GovCon COE team is comprised of knowledgeable insurance experts with broad experience advising clients who operate in the government contracting space. This COE is specifically structured to support federal contracting clients with property and casualty, employee benefits and retirement insurance solutions, GovCon M&A due diligence and in-house compliance specialists.

“Our new Government Contracting (GovCon) Center of Excellence (COE) is an expansion of BRP Group’s specialized solutions and capabilities that work to meet the unique needs of current and prospective clients. By combining the expertise from our two partner firms, Armfield, Harrison & Thomas (AHT) and The Capital Group, we are excited to bring this additional practice to the marketplace,” said Dan Galbraith, BRP Group’s Chief Operating Officer. “Not only do government contractors encounter typical risk management and insurance issues, they also navigate unique challenges associated with conducting business within a rapidly-evolving, highly-regulated environment. With more than 25 years of experience and a proven track record of designing specialized insurance coverage for these complex business and regulatory conditions, our dedicated colleagues, led by BRP Group’s Senior Director of Sales Kevin FitzPatrick, keep clients protected, in compliance and proactively prepared to mitigate risk and manage costs.”

The GovCon COE focuses on addressing the unique needs and challenges of clients in the hyper- competitive federal contracting space that are best solved by a unified team approach. The GovCon COE helps federal contractors navigate these mission critical areas:

- Controlling fringe expenses to keep competitive Wrap Rates
- GovCon Employee Benefits Benchmarking - designing programs that help improve employee attraction and retention.
- Risk Management Strategy
- Defense Base Act (DBA) Coverage
- International Coverage
- Cyber Liability Insurance
- Service Contract Act (SCA) Compliance and Strategy
- 401K plan development and administration

In addition, the GovCon COE has integrated two key programs:

- GovTech™: The Government Technology Insurance Company offers robust commercial insurance policies that flow down the Federal Acquisition Regulation (FAR) and Defense Federal Acquisition Regulation Supplement (DFARS) framework and provides easy access to GovCon insurance subject matter experts at premiums that accurately reflect the exposures.

- GovConHealth: Provides go-to-market strategies to federal contractors to help them control employee benefits expenses. The initiative is powered by a unique and proprietary consortium-funded stop-loss arrangement that bands together high-performing federal contractors to safely and conservatively partially self-fund their employer-based healthcare.

For more information about BRP Group’s industry and product specializations, visit: www.baldwinriskpartners.com.

Investment advisory and asset management services are offered by investment adviser representatives (IARs) through the Capital Group Investment Advisory Services, LLC (TCGIAS), a registered investment adviser, and indirect subsidiary of Baldwin Risk Partners, LLC and BRP Group, Inc. You may learn more about our services at www.capgroupfinancial.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 Group represents over 1.3 million 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, 2022 and in BRP Group’s other filings with the SEC, which are available free of charge on the SEC’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. 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.

Source: BRP Group, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230725780239/en/

PRESS

Anna Rozenich, Sr. Director of Enterprise Communications

Baldwin Risk Partners

630.561.5907 | anna.rozenich@baldwinriskpartners.com



INVESTOR RELATIONS

Bonnie Bishop, Executive Director, Investor Relations

Baldwin Risk Partners

813.259.8032 | IR@baldwinriskpartners.com

Source: BRP Group, Inc.

FAQ

What is the new Center of Excellence (COE) established by BRP Group, Inc.?

BRP Group, Inc. has established a new national Center of Excellence (COE) focused on Government Contracting (GovCon) to provide specialized insurance solutions for federal contractors.

What services does the GovCon COE offer?

The GovCon COE offers services such as property and casualty insurance, employee benefits and retirement insurance solutions, GovCon M&A due diligence, in-house compliance specialists, and more, tailored specifically for federal contractors.

What are the key programs integrated into the GovCon COE?

The GovCon COE has integrated GovTech™, which offers commercial insurance policies that align with federal regulations, and GovConHealth, which provides go-to-market strategies to help federal contractors control employee benefits expenses.

How does the GovCon COE help federal contractors?

The GovCon COE helps federal contractors navigate mission-critical areas such as controlling fringe expenses, employee benefits benchmarking, risk management strategy, cyber liability insurance, and more, all essential for operating in the hyper-competitive federal contracting space.