Insurance broker ProTrans Inc., a member of New Jersey-based Capacity Group of Companies, announced an agreement to acquire WSIB Motorsports Insurance of Indianapolis, Ind., 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 million annually. The Capacity Group 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. 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.