8-K

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549





                                    FORM 8-K

                                 CURRENT REPORT



                Pursuant to Section 13 or 15(d) of the Securities
                              Exchange Act of 1934



         Date of Report (Date of earliest event reported): July 8, 2003

                            ProAssurance Corporation
             (Exact name of registrant as specified in its charter)

         Delaware                    001-16533               63-1261433
 (State of Incorporation)       (Commission File No.)   (IRS Employer I.D. No.)


  100 Brookwood Place, Birmingham, Alabama                    35209
    (Address of Principal Executive Office)                  (Zip code)

       Registrant's telephone number, including area code: (205) 877-4400






Item 7.       Financial Statements and Exhibits

              (c) Exhibits filed with this report:

              Number         Exhibit
              99.1           Copy of Registrant's press release,  dated July 8,
                             2003,  publicly  commenting on A. M. Best's
                             affirmation of the Company's  Financial  Strength
                             Rating, and highlighting  Best's rating of the
                             Company's recently issued debentures.


Item 9.       Regulation FD Disclosure

              The registrant has furnished this report to disclose for
Regulation FD purposes its public release of:

              1. Comments on A. M. Best's affirmation of the Company's Financial
Strength Rating, and Best's rating of the Company's recently issued debentures.
A copy of the press release, dated July 8, 2003, is included as exhibit 99.1 to
this report.


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                                    SIGNATURE

         Pursuant to the requirements of the Securities Exchange act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.



Date:  June 8, 2003


                               PROASSURANCE CORPORATION


                               By:  /s/ Howard H. Friedman
                               -------------------------------------------------
                                        Howard H. Friedman
                                        Chief Financial Officer


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EX-99

                                                                  Exhibit 99.1

A. M. Best Affirms ProAssurance's Excellent Rating; Outlook Revised
Upward to Stable

    BIRMINGHAM, Ala.--(BUSINESS WIRE)--July 8, 2003--A. M. Best has
affirmed the "A-" (Excellent) Financial Strength Rating of
ProAssurance Corporation (NYSE:PRA) and its insurance subsidiaries.
Importantly, Best upgraded the Financial Strength Rating outlook to
Stable.
    In a separate action, Best has assigned a Debt Rating of "BBB-" to
the $100 million of 3.90% Convertible Senior Debentures issued by
ProAssurance last week. The "BBB-" rating applies only to the
debentures and is separate from the Financial Strength Rating, which
addresses the ability of ProAssurance and its insurance subsidiaries
to meet current obligations to policyholders.
    In rating ProAssurance's Financial Strength, Best noted the
group's operating profitability, adequate capitalization, aggressive
defense of claims, and geographic diversification. Also contributing
to the affirmation is the Company's ability to access the capital
markets to support premium growth. Best also highlighted the
diversification and profitability brought to the group by MEEMIC
Insurance Company, the now wholly-owned personal lines subsidiary of
ProAssurance.
    "We are extremely pleased that our efforts to maintain financial
strength have been recognized by A. M. Best. Given the turbulent state
of the medical liability marketplace, the fact that our Excellent
rating has been affirmed and our outlook raised is a plus for our
policyholders," said Chairman A. Derrill Crowe, M.D.
    ProAssurance's President, Victor T. Adamo, said he believes
ProAssurance will have additional opportunities to differentiate
itself from competitors in the coming years. "We believe it's likely
that there will be more contraction in the medical liability market,
and we're confident that our solid financial base and history of
serving and defending our policyholders will make us an insurer of
choice for those who are seeking stability and long-term commitment,"
said Adamo.

    About ProAssurance

    ProAssurance Corporation is a specialty insurer with more than
$2.5 billion in assets and more than $630 million in gross written
premiums. The Company was formed by the combination of Medical
Assurance, Inc. and Professionals Group, Inc. in June 2001. As one of
the nation's largest writers of medical professional liability
insurance, ProAssurance's subsidiaries, The Medical Assurance Company,
Inc., Medical Assurance of West Virginia, Inc., ProNational Insurance
Company and Red Mountain Casualty Insurance Company, Inc., are
recognized leaders in developing solutions which serve the needs of
the evolving health care industry. ProAssurance is the tenth largest
writer of personal auto coverage in Michigan through its subsidiary,
MEEMIC Insurance Company. A. M. Best assigns a rating of "Excellent"
to ProAssurance and its subsidiaries; Standard & Poor's assigns the
Company's professional liability carriers a "Strong" rating.

    CONTACT: ProAssurance Corporation
             Frank B. O'Neil, 205/877-4461; 800/282-6242
             foneil@ProAssurance.com