PRA Profile
ProAssurance Corporation, based in Birmingham, Alabama, operates as a prominent provider of property and casualty insurance and reinsurance solutions across the United States. Established in 1976, the company manages its operations through several key segments including Specialty Property and Casualty, Workers' Compensation Insurance, Segregated Portfolio Cell Reinsurance, and participation in Lloyd's Syndicate 1729.
The company specializes in offering professional liability insurance tailored for healthcare providers, institutions, and legal professionals, alongside liability coverage for risks within the medical technology and life sciences sectors. Its comprehensive range of products includes workers' compensation insurance, featuring various policy types such as guaranteed cost, policyholder dividend, retrospectively rated, and deductible policies. ProAssurance also provides alternative market solutions encompassing program design, claims administration, risk management, and specialized services like Segregated Portfolio Cell (SPC) rental and asset management.
ProAssurance enhances its market presence through a robust distribution network that includes independent agencies, brokers, and an internal sales force. This enables the company to effectively reach individual companies, agencies, groups, and associations seeking tailored insurance solutions. Additionally, its involvement in Lloyd's of London Syndicate 1729 strengthens its reinsurance capabilities, bolstering its ability to underwrite a wide spectrum of property and casualty risks.
Driven by a commitment to innovation and customer service, ProAssurance Corporation continues to evolve in the insurance industry, leveraging decades of expertise to meet the complex needs of its diverse client base nationwide.
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