Your choice of ProAssurance reflects an appreciation of our commitment to treat you fairly. We exist to protect others. Our history demonstrates companies of similar values coming together to ensure strong healthcare liability coverage, as well as other insurance options for our customers.
The timeline of our formation and major events includes:
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2021
On May 5, ProAssurance closed the transaction to acquire NORCAL Group in a sponsored demutualization. NORCAL Group will be integrated into the operations of the healthcare professional liability (HCPL) division and makes ProAssurance the third largest writer of medical professional liability insurance by U.S. market share.![Screen Shot 2022-06-08 at 10.37.47 AM]()
2020
On February 20, ProAssurance announced the acquisition of NORCAL Group contingent upon regulatory and policyholder approval.
In mid-March, the Coronavirus (COVID-19) pandemic caused significant global quarantines. Social and economic disruptions included business closures, cancellations of elective surgeries, increases in telehealth, and more. ProAssurance’s response included approximately $3.7 million in premium reduction to impacted policyholders, several new online seminars for physician and practice administrators, and guidelines for mitigating risk while practicing during a pandemic. Complimentary confidential coaching for COVID-19 related stress was made available to insureds, as well as virtual risk assessments for office practices and deferrals for premium payments.
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2019
On July 1, Edward L. “Ned” Rand, Jr. became CEO of the Company as successor to Stan Starnes. Mr. Rand retained his title of President of the organization. He was formerly President and Chief Operating Officer.
In October, organizational structural changes included the development of the Innovative Specialty Team integrating the chiropractic, dental, lawyer, and podiatric lines of business. Mid-Continent was consolidated into other existing healthcare professional liability operations.
Following the February retirement announcement of Howard Friedman, President of Healthcare Professional Liability, Michael L. Boguski assumed the presidency of a new division, Specialty Property & Casualty, effective mid-May. The new division includes standard and specialty underwriting units, in addition to the Innovative Specialty Team operations and products liability. Boguski was the president of Eastern Alliance Insurance Group.
Also in May, Kevin M. Shook was named Eastern’s new president. He was the Executive Vice President of Eastern. Robert D. Francis rejoined ProAssurance as Executive Vice President of Underwriting and Operations for the Healthcare Professional Liability operation within the Specialty P&C division.
On July 16, ProAssurance was selected as a Ward’s 50® top property casualty insurer for the 13th consecutive year. With nearly 3,000 companies examined for safety, consistency, and performance, ProAssurance’s ongoing selection is a significant honor.
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2018
Edward L. “Ned” Rand was named President of the Company on December 3 in addition to his role as Chief Operating Officer. He was previously Chief Financial Officer for 13 years.
Dana S. Hendricks was promoted to Chief Financial Officer effective September 1. She was previously Senior Vice President of Business Operations for the Podiatry Insurance Company of America (PICA), a ProAssurance subsidiary.
On July 17, ProAssurance was named to the prestigious Ward’s 50® list of top property and casualty insurance companies in America for the 12th consecutive year.
