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): June 21, 2004

                            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 June 21, 2004, publicly
              commenting on A.M.  Best's  affirmation of the Financial  Strength
              Rating  of   ProAssurance   Corporation  and  its  core  insurance
              subsidiaries.

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.  A copy of the press release,  dated June 21, 2004, is included
as exhibit 99.1 to this report.

The information in this Form 8-K, including the accompanying  exhibit,  is being
furnished  under Item 12 and shall not be deemed to be "filed" for the  purposes
of Section 18 of the Securities  and Exchange Act of 1934 (the "Exchange  Act"),
or  otherwise  subject  to  the  liability  of  such  section,  nor  shall  such
information  be  deemed  incorporated  by  reference  in any  filing  under  the
Securities  Act  of  1933  or  the  Exchange  Act,  regardless  of  the  general
incorporation language of such filing, except as shall be expressly set forth by
specific reference in such filing.


                                       2


                                    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 21, 2004

                                      PROASSURANCE CORPORATION




                                      By:  /s/ Frank B. O'Neil

                                      -----------------------------------------
                                               Frank B. O'Neil
                                               Senior Vice President


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EX-99.1

                                                                    Exhibit 99.1

               A. M. Best Affirms ProAssurance's ``A-''
               Excellent Rating Outlook Remains Stable

    BIRMINGHAM, Ala.--(BUSINESS WIRE)--June 21, 2004--ProAssurance
Corporation said today that A. M. Best has affirmed the "A-"
(Excellent) Financial Strength Rating of ProAssurance Corporation
(NYSE:PRA) and its core insurance subsidiaries.
    In rating ProAssurance's Financial Strength, Best highlighted the
company's ability to access the capital markets to support premium
growth, ProAssurance's strong regional market position as a leading
writer of professional liability coverages, and the diversification
and profitability brought to the group by MEEMIC Insurance Company,
ProAssurance's personal lines subsidiary.
    "ProAssurance stands out in our niche because of our ability to
make -- and keep -- a long term promise of insurance protection and
service to our insureds. We're proud that A. M. Best recognizes the
strength and security in our balance sheet, which is the foundation of
our commitment to our policyholders," said Chairman A. Derrill Crowe,
M.D.
    ProAssurance's President, Victor T. Adamo said the rating
affirmation should enhance ProAssurance's attractiveness to new
insureds, especially in its professional liability segment. "With
capacity shrinking in the medical professional marketplace, and a
number of competitors experiencing financial problems, physicians and
hospitals are seeking the long-term security that ProAssurance is able
to deliver."

    About ProAssurance

    ProAssurance Corporation is a specialty insurer with almost $3.0
billion in assets and more than $740 million in gross written
premiums. As the nation's fourth largest writer of medical
professional liability insurance, ProAssurance's principal
professional liability subsidiaries, The Medical Assurance Company,
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 "A-" (Excellent) to ProAssurance and its principal
subsidiaries; Standard & Poor's assigns the Company's principal
professional liability carriers a rating of "A-" ("Strong).

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