Insurance Broker ProTrans, Inc. Announces the Acquisition of WSIB Insurance, One of the Nation's Leading Motorsports Insurance Agencies
MAHWAH, N.J., April 10 -- Insurance broker ProTrans, Inc., a member of the Capacity Group of Companies, has announced that it has reached an agreement to acquire WSIB Motorsports Insurance of Indianapolis, Indiana, effective March 21, 2006. With offices in Indianapolis and Michigan, WSIB offers specially designed motorsports coverage for professional and semi- professional race teams.
With this acquisition, The Capacity Group will have offices in five states serving more than 20,000 clients nationwide, with written premiums totaling over $400,000,000 annually. The Capacity Group has partnered with wholesale insurance broker International Excess of Richmond Heights, Ohio, to make this acquisition.
Robert G. Lull, president of ProTrans, says, "This agreement helps to put Protrans and The Capacity Group into an elite group of insurance brokers nationwide. Our wholesale insurance portfolio is greatly expanded. We're very pleased to add a number of highly-qualified personnel to our fine staff. In addition, this joint venture with International Excess will allow both of our organizations to offer a wider product line and greater market availability to this already top-notch specialty wholesaler."
The new WSIB Insurance Agency LLC will continue to offer insurance products covering Race Tracks, Race Shops, Racing Owners & Sponsors, Off Track Storage, Racing Products Liability, Participant Accident, Prize Indemnity Insurance, Disability Income, and Driver Bonus risks.
The headquarters of WSIB Motorsports Insurance will remain in Indianapolis, Indiana. The company will be led by Mark Maucere, President, and Laura Hauenstein, Vice President. WSIB insurance products are underwritten by the Chubb Group of Insurance Companies, known nationwide as a top-flight provider of commercial and personal insurance.
About Capacity Coverage
Capacity Coverage Company of New Jersey, Inc. is the umbrella company for the Capacity Group and its affiliate companies. The Capacity Group is the third-largest privately-held insurance brokerage group in New Jersey. Capacity Coverage is ranked the 65th largest brokerage firm in the United States by Business Insurance Magazine.