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