ProSight Specialty Is Now Coaction Specialty

Morristown NJ

19 April, 2022

12:12 PM

Description

Press release from Coaction: April 19, 2022 ProSight Global, Inc. (ProSight), a privately-owned specialty property and casualty (P&C) insurance company, has rebranded as Coaction Specialty (Coaction Specialty), a wholly-owned subsidiary of Coaction Global, Inc. (Coaction), effective immediately. As part of the rebrand, and demonstrating its commitment to addressing Environmental, Social, and Governance (ESG) issues, Coaction has also converted to a Public Benefit Corporation (PBC) making it the first commercial P&C insurer to do so. The PBC structure will enable Coaction to consider emerging, important issues, such as climate, diversity, and inclusion, in decision-making while continuing to strive to achieve profitable growth for its key constituents. "Coaction remains committed to its existing distribution relationships and expects to further expand its strategic wholesale partnerships to support its vertical alignment in casualty, multi-line, executive liability, property, and entertainment businesses," said Jonathan Ritz, CEO of Coaction. In the entertainment business specifically, Coaction is focused on ensuring continued delivery of the exceptional value the market has come to expect. The company looks forward to future success through its product offerings which it believes will provide increased diversification benefits, enhanced competitiveness in the marketplace, and the opportunity to sustainably serve additional customers. Effective today, April 19, 2022, producers and customers can now access Coaction's rebranded producer portal and customer website. For further information about the company's new brand, verticals, and offerings, please visit www.coactionspecialty.com. This press release was produced by Coaction. The views expressed here are the author's own.