Key Takeaways
- • BRP Group, Inc. (NASDAQ: BRP) announced on June 12, 2023 the launch of two Centers of Excellence, one for Private Equity (PE) and one for Venture Capital (VC), dedicated to serving asset management clients.
- • The PE and VC COEs are structured to support both buy-side and sell-side transactions, beginning with transaction risk and due diligence and expanding to broad insurance programs for firms and their portfolio companies.
- • The leadership teams include Travis Holt, Pam Mason, John Warren and Lidore DeRose, all Senior Partners and Senior Vice Presidents, with COO Dan Galbraith presenting the initiative.
- • The offering combines transaction liability placement, cyber risk assessment, and fund-specific insurance products delivered through a proprietary digital platform powered by Founder Shield, a division of Millennial Specialty Insurance, LLC.
Summary
BRP Group, Inc. has established two Centers of Excellence (COEs), one focused on Private Equity (PE) and one on Venture Capital (VC), according to a company press release distributed via Business Wire from Tampa, Florida. The teams are composed of insurance specialists with experience advising asset management clients and their portfolio companies. The company states the COEs are designed to serve private equity firms, venture capital groups, and strategic acquirers.
According to the release, the PE COE supports buy-side and sell-side transactions. Its services include transaction risk analysis, due diligence, and the placement of rep and warranty, tax liability, and other deal-specific policies. The PE team also helps buyers reduce risk after an acquisition and analyzes cyber exposure across portfolio investments, quantifying potential financial impact. The VC COE focuses on protecting firms and their partners' personal assets, offering firm-level property and casualty coverage, directors and officers liability, professional liability, outside directorship liability, employment practices liability, portfolio company D&O and P&C coverage, insurance audits, cyber liability, and litigation trend and limit analysis.
The leadership teams include Travis Holt (Senior Partner, SVP of Private Equity), Pam Mason (Senior Partner, SVP of Venture Capital), John Warren (Senior Partner, SVP of Private Equity), and Lidore DeRose (Senior Partner, SVP of Transaction Risk). BRP Group Chief Operating Officer Dan Galbraith said the new practices "continue to expand our specialized solutions and capabilities to meet the unique needs of current and prospective clients."
The company highlights 24/7 claims and transaction support, long-standing relationships with insurance carrier partners, and a digital client portal offering curated coverage packages, digital applications, centralized policy and certificate of insurance management, custom fund insurance products, and portfolio company premium credits. The release does not disclose financial terms, headcount, or assets under management associated with the launch.
BRP Group describes itself as an independent insurance distribution firm serving over 1.2 million clients across the United States and internationally. The release includes standard forward-looking statement disclaimers referencing the company's Annual Report on Form 10-K for the year ended December 31, 2022.
According to the release, the PE COE supports buy-side and sell-side transactions. Its services include transaction risk analysis, due diligence, and the placement of rep and warranty, tax liability, and other deal-specific policies. The PE team also helps buyers reduce risk after an acquisition and analyzes cyber exposure across portfolio investments, quantifying potential financial impact. The VC COE focuses on protecting firms and their partners' personal assets, offering firm-level property and casualty coverage, directors and officers liability, professional liability, outside directorship liability, employment practices liability, portfolio company D&O and P&C coverage, insurance audits, cyber liability, and litigation trend and limit analysis.
The leadership teams include Travis Holt (Senior Partner, SVP of Private Equity), Pam Mason (Senior Partner, SVP of Venture Capital), John Warren (Senior Partner, SVP of Private Equity), and Lidore DeRose (Senior Partner, SVP of Transaction Risk). BRP Group Chief Operating Officer Dan Galbraith said the new practices "continue to expand our specialized solutions and capabilities to meet the unique needs of current and prospective clients."
The company highlights 24/7 claims and transaction support, long-standing relationships with insurance carrier partners, and a digital client portal offering curated coverage packages, digital applications, centralized policy and certificate of insurance management, custom fund insurance products, and portfolio company premium credits. The release does not disclose financial terms, headcount, or assets under management associated with the launch.
BRP Group describes itself as an independent insurance distribution firm serving over 1.2 million clients across the United States and internationally. The release includes standard forward-looking statement disclaimers referencing the company's Annual Report on Form 10-K for the year ended December 31, 2022.
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