Born in Buffalo, New York, Insana's family moved to Los Angeles while he was in seventh grade. He graduated from Chaminade College Preparatory in 1979 and was recognized as "Distinguished Alumnus of the Year" in 2005. Later, he graduated with honors from California State University, Northridge. Insana began his career in 1984 as a Financial News Network production assistant, rising to managing editor and chief of FNN's Los Angeles bureau just as the Network was integrated into CNBC. While at FNN, he was nominated for a Golden ACE Award for his role in covering the 1987 stock market crash. Insana joined CNBC in the 1991 merger with the FNN.