BRP Group, Inc. Collaborates with Nasdaq, Inc. on D&O Limits Benchmarking Report
The report is the culmination of a survey completed by over 330 Nasdaq companies documenting their total limits, structure, retention, premium, and carriers.
“Directors & Officers Liability pricing for public companies has been increasing exponentially over the past several years and our data shows the average premium increase across the board last year was 20%,” said
The report not only breaks out results by market capitalization and industry segment, but also based on whether the company has recently undergone an initial public offering (“IPO”).
“We have seen the greatest disruption in the marketplace for new IPOs; and the data shows that on average, premiums are 3.2x higher for companies that have gone public in the last three years than those that have not,” said Tomasulo.
Other noteworthy observations:
- Despite rate increases, less than 7% of companies reduced their limits
- Almost 87% of companies purchase some amount of A-Side coverage
- 14% of companies experienced a rate increase of over 50% on the last renewal
For a copy of the executive summary and information about obtaining the full report, please click here. You may also reach out to your Nasdaq Relationship Manager for more information.
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
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