October 14, 2013

ProSight finds niche rocking insurance world

Beth Fitzgerald | NJBIZ

When a rock band hits the road, it brings plenty of instruments, outfits, props, stagehands — and a whole bunch of insurance.

More and more, that insurance is coming from ProSight Specialty Insurance, a 4-year-old company based in Morristown that is the behind-the-scenes protector of some of the country’s most famous musicians.

The company is the brainchild of Chief Executive Joe Beneducci, a former CEO of Fireman’s Fund Insurance who launched ProSight in 2009 with backing from Goldman Sachs and the Texas Pacific Group.

Today, the privately held company has annual premium revenue of about $500 million and nearly 300 employees, about 200 of them in New Jersey.

 

 

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