ProAssurance Corporation (PRA) is a well-established holding company for companies that deliver property and casualty insurance and reinsurance products. Founded over 40 years ago in 1976, ProAssurance plays an intrinsic role in the insurance sector with a primary focus on providing the highest quality insurance services to professionals and institutions.
The company ranks among the 50 largest insurance companies nationwide, headquartered in Birmingham, Alabama, and operates in all 50 states of the U.S. ProAssurance Corp is listed on the New York Stock Exchange and has a standardized network of loyal customers with the assistance of the dedicated workforce.
ProAssurance Corporation has specialized in professional liability insurance since its inception. This type of insurance covers professionals against potential negligence claims made by their clients and enables professionals to practice their professions without fear of financial devastation due to the threat of a malpractice lawsuit. Liability coverage is available for healthcare professionals, hospitals, healthcare facilities, law firms, and any other businesses that offer professional services or advice.
One of the standout edges to ProAssurance's offerings is its commitment to risk management. The corporation offers risk-resource services to insurance holders, providing advice, guidance, and tools to help professionals and businesses reduce the risk of negligence claims.
While focusing heavily on its professional liability insurance line, ProAssurance Corporation also offers a diverse portfolio of insurance solutions. From workers' compensation coverage for businesses to defense insurance for public officials, their product suite accommodates a wide variety of customer needs.
The fiscal health of ProAssurance Corp remains solid with strong profits and growth noted in recent years. The firm's success is reflective of effective strategic planning and execution. One key aspect of its strategic plan is specialty and niche-focused underwriting, which has enabled ProAssurance to maintain a competitive edge within the industry.
ProAssurance’s dedication to its mission, “Treated Fairly”, demonstrates its commitment to both fairness and respect all stakeholders, ensuring everyone in the claim process is treated with fairness and integrity. This philosophy has not only earned ProAssurance the trust and loyalty of many professionals and businesses, but also solid standing in the marketplace.
ProAssurance’s longevity and reputation in the insurance industry, coupled with its comprehensive range of insurance solutions, make it a formidable player within the sector. With a clear focus on the future, it is expected that ProAssurance will continue to play a significant role in the ever-changing landscape of professional and business insurance.