Specialty insurer focused on professional liability insurance products for healthcare professionals and facilities.
ProAssurance Corporation stands as a prominent provider of property and casualty insurance and reinsurance products across the United States, operating through distinct segments: Specialty Property and Casualty, Workers' Compensation Insurance, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate. Founded in 1976 and headquartered in Birmingham, Alabama, the company specializes in offering professional liability insurance tailored for healthcare providers, institutions, and attorneys. Additionally, it provides liability coverage for risks in medical technology and life sciences sectors.
ProAssurance Corporation's comprehensive suite of insurance products includes workers' compensation insurance, encompassing various policy types such as guaranteed cost policies, policyholder dividend policies, retrospectively rated policies, and deductible policies. The company also offers alternative market solutions, including program design, fronting, claims administration, risk management, and asset management services. These solutions cater to individual companies, agencies, groups, and associations, enhancing their risk management strategies and insurance coverage options.
Operating through independent agencies, brokers, and an internal sales force, ProAssurance Corporation markets its diverse portfolio of insurance products nationwide. The company's participation in Lloyd's of London Syndicate 1729 further extends its reach in underwriting property and casualty insurance and reinsurance, reinforcing its position as a trusted partner in the insurance industry committed to delivering tailored coverage and risk management solutions.