BRP Group, Inc. and Nasdaq’s Third Annual Directors and Officers (D&O) Benchmarking Report Includes Key Findings on Cyber Liability in this Year’s Edition
2024 report reveals
More than 320 public companies participated in this year’s survey, conducted in collaboration with Nasdaq, Inc. (“Nasdaq”). Participating companies provided key policy information regarding their D&O and Cyber Liability insurance coverages. One of the key findings reveals thatafter several years of significant increases in insurance costs, followed by fairly meaningful decreases over the past 18 months, companies are starting to see a leveling off in premiums for both D&O and Cyber insurance. This report provides a baseline of measurement for companies who are interested in learning if they have received the same decrease as their peers, how their retention compares with others, and if they are buying the right amount of coverage.
“In light of recent
The Nasdaq-listed public companies that were surveyed, on average, saw their primary D&O insurance layer decrease by 15.5 percent compared to 20.3 percent for their previous renewal, and 48 percent of respondents reported relatively flat renewals. In addition, 58 percent of companies reported seeing a fairly flat Cyber Liability renewal (+/- 10 percent).
One finding of note was that average retentions for D&O continued to fall steeply. Companies reported an average retention of
This year’s report provides a comprehensive overview of D&O and Cyber Liability insurance programs including:
- Changes in rate and retention since last year by market cap, industry and revenues
- Changes in corporate buying habits and policy structure
- Top Primary Carriers for D&O & Cyber Liability
- Marketplace views from over 120 D&O underwriters in the
For a copy of the executive summary and information about obtaining the full report, please click here.
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METHODOLOGY
The BRP Group Management Liability Practice and Nasdaq worked together for the third year in a row, to produce the D&O & Cyber Benchmarking Report.
Our process involved crafting a survey that was distributed to Nasdaq listed companies, which was designed to gather crucial information on their director’s and officer’s and cyber insurance. After receiving more than 320 completed responses, we thoroughly analyzed the data and utilized it to produce a comprehensive final report.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240417434161/en/
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