The ProAssurance Corporation (NYSE: PRA) is a medical liability insurance underwriter created in 2001 from the merger of the Mutual Assurance Society of Alabama and the Michigan-based Professionals Group, Inc. Ned Rand Jr is the president and CEO. With a market capitalization of $2.01 billion in June 2019, ProAssurance is the 5th most valuable public corporation in Alabama.
The first chairman and CEO was Derrill Crowe. Stan Starnes took over when Crowe retired in 2007. Rand, then serving as chief operating officer, was promoted to president of the company in December 2018 and to CEO in July 2019.
ProAssurance's headquarters office is located at 100 Brookwood Place. The company also has offices in Mobile; Wilmington, Delaware; Washington D. C.; Miramar and Tampa, Florida; Fayetteville, Georgia; Naperville, Illinois; Greenwood, Indiana; Louisville, Kentucky; Okemos, Michigan; Springfield and St Louis, Missouri; Cleveland and Columbus, Ohio; Boiling Springs, Pennsylvania; Franklin, Tennessee; Houston, Texas; Glen Allen and Chantilly, Virginia and Madison, Wisconsin.
ProAssurance acquired the Austin, Texas-based American Physicians Service Group in 2010, the Chantilly, Virginia-based Medmarc Insurance Group in January 2012, and Lancaster, Pennsylvania-based Eastern Insurance Holdings in September 2013.
- ProAssurance Indemnity Company
- ProAssurance Casualty Company
- ProAssurance National Capital Insurance Company
- ProAssurance Wisconsin Insurance Company
- ProAssurance Specialty Insurance Company
- Podiatry Insurance Company of America
- Diel, Stan (January 2, 2013) "ProAssurance closes $154 million Medmarc acquisition." The Birmingham News
- Rebman, Stephanie (December 4, 2018) "Birmingham-headquartered insurer names new president." Birmingham Business Journal
- Patchen, Tyler (May 22, 2019) "Birmingham insurance company names new CEO." Birmingham Business Journal
- Bagwell, Dan (July 8, 2019) "List: Alabama’s public companies slowed by volatile stock market." Birmingham Business Journal
- O'Leary, A. J. (November 14, 2023) "Industry headwinds drive loss for Birmingham-based specialty insurer." Birmingham Business Journal
- ProAssurance website