Patriot National Partners with ProSight Specialty® Insurance to Offer New Restaurants, Bars and Taverns Program
FORT LAUDERDALE, FL., January 7, 2016 – Patriot National, Inc. (NYSE: PN), a leading provider of technology and outsourcing solutions, announced today that it has partnered with ProSight Specialty Insurance (ProSight), a provider of customized insurance solutions, to launch a new restaurants, bars and taverns program adding to Patriot’s national hospitality focus. The program will encompass property, general liability and liquor liability.
Based in Morristown, N.J., ProSight provides customized insurance solutions to niche markets where it has differentiated underwriting and claims expertise, and partners exclusively with specialist distributors who have a deep understanding of the specific needs of their customers. ProSight’s underwriting members are rated “A” (Excellent) by A.M. Best.
“We are very pleased to partner with the ProSight team on the development and execution of our new restaurants, bars and taverns hospitality program,” said Steven M. Mariano, Chief Executive Officer of Patriot National. “ProSight has achieved tremendous growth by offering innovative and customized solutions and we believe that joining forces will lead to expanding our portfolio of exciting new insurance solutions for the hospitality industry over the coming years.”
Larry Hannon, Chief Operating Officer of ProSight said, “We are looking forward to working with Patriot National to expand the reach of our restaurants, bars and taverns program through Patriot’s vast distribution network. Both Patriot and ProSight have special expertise in this space. Working with Patriot National enables ProSight Specialty Insurance to do what we do best: provide differentiated coverage and service offerings that truly deliver value to our customers.”
About ProSight Specialty Insurance
ProSight Specialty Insurance was founded by industry veteran CEO Joe Beneducci, with the explicit purpose of introducing innovation to the commercial property and casualty insurance market. ProSight designs solutions that are born from customers’ self-identified challenges, so each solution is targeted to enhance customers’ operating performance. ProSight focuses on select niche industries, deploying differentiated underwriting and claims expertise, and then works exclusively with specialized distributors to deliver value. ProSight is fueled by a cultural desire to succeed at uncommon challenges, making the business performance of its customers a top priority. The underwriting members of the ProSight Specialty Insurance (ProSight) group of companies are rated “A” (Excellent) by A.M. Best. ProSight also operates Syndicate 1110 at Lloyd’s of London, which is rated “A” (Excellent) by A.M. Best and “A+” (Strong) by Standard & Poor’s. Based in Morristown, NJ, ProSight has regional offices in Los Angeles, CA, Santa Rosa, CA, NY, NY, and London, England. More information about ProSight and its member insurers can be found at www.prosightspecialty.com. Follow us at @ProSightCorp and ProSight Specialty Insurance.
About Patriot National
Patriot National is a national provider of comprehensive technology and outsourcing solutions within the property and casualty marketplace for insurance companies, employers, local governments and reinsurance captives. Patriot National provides general agency services, claims administration, technology outsourcing, software solutions, specialty underwriting, employer and policyholder services to its clients. Patriot National is headquartered in Fort Lauderdale, Florida.
Forward Looking Statements
This press release may include statements that may be deemed to be forward-looking statements. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook,” “Guidance,” and similar expressions are used to identify these forward-looking statements. By their nature, forward-looking statements involve risks and uncertainties, and there are important factors that could cause actual results to differ materially from those indicated in these statements, including the success of the new national hospitality program. For example, we may not be able to place insurance policies for our clients, our expenses may be higher than we expect, we may have difficulty integrating new acquisitions, new acquisitions may not perform as anticipated, as well as those matters contained in our filings with the Securities and Exchange Commission. Although we base these forward-looking statements on assumptions that we believe are reasonable when made, we caution you that forward-looking statements are not guarantees of future performance or events and that results may differ materially from statements made in or suggested by the forward-looking statements contained in this press release. Any forward-looking statement that we may make in this press release speaks only as of the date of such statement, and we undertake no obligation to update any forward-looking statement or to publicly announce the results of any revision to any of those statements to reflect future events or developments.
Media and Investor Contacts:
Julie MacMedan (310) 622-8242
Paige Hart, (310) 622-8244
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