-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VjFMtdA7DXuWYPrM0y2TcNQxmx/MCYQ2aQ2OAkZyFkw7uzqpW2Zy86Cna0QG1Osw 4sGgGXWzju1VtDX7c9anrA== 0001157523-05-007557.txt : 20050817 0001157523-05-007557.hdr.sgml : 20050817 20050817092504 ACCESSION NUMBER: 0001157523-05-007557 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050817 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050817 DATE AS OF CHANGE: 20050817 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PROASSURANCE CORP CENTRAL INDEX KEY: 0001127703 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 631261433 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16533 FILM NUMBER: 051032168 BUSINESS ADDRESS: STREET 1: 100 BROOKWOOD PLACE CITY: BIRMINGHAM STATE: AL ZIP: 35209 BUSINESS PHONE: 2058774400 8-K 1 a4954240.txt PROASSURANCE CORPORATION 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): August 17, 2005 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 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |_| Soliciting material pursuant to Rule 14a-12 under the Securities Act (17 CFR 240.14a-12) |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b)) |_| Pre-commencement communications pursuant to Rule 13e-(c) under the Exchange Act (17CFR 240.13e-(c)) ITEM 2.02 RESULTS OF OPERATION AND FINANCIAL CONDITION On August 17, 2005 we filed a press release announcing the resignation of R. Ray Pate, Jr. as the President of NCRIC, Inc. Item 9.01 Financial Statements and Exhibits a. None b. None c. We are furnishing the following document as an Exhibit to this Current Report on Form 8-K pursuant to Item 601 of Regulation 8-K: 99.1 Press release reporting the resignation of NCRIC executive, R. Ray Pate, Jr. We are furnishing the exhbit to this Form 8-K in accordance with items 2.02. The exhibit 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.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: August 17, 2005 PROASSURANCE CORPORATION By: /s/ Edward L. Rand, Jr. ---------------------------------------- Edward L. Rand, Jr. Chief Financial Officer EX-99.1 2 a4954240ex99-1.txt EXHIBIT 99.1 Exhibit 99.1 ProAssurance Announces NCRIC Executive's Resignation BIRMINGHAM, Ala.--(BUSINESS WIRE)--Aug. 17, 2005--ProAssurance Corporation (NYSE:PRA) announced today that R. Ray Pate, Jr., is resigning as President of NCRIC, Inc., to pursue a career in reinsurance, focusing on medical professional liability insurance. NCRIC, Inc. is an insurance subsidiary of ProAssurance Corporation. Pate was formerly the President of NCRIC Group, Inc., which was merged into ProAssurance effective August 3, 2005. Pate, whose resignation is effective September 30, 2005, began his insurance career as an employee of ProAssurance's predecessor company. Pate said, "This is a bittersweet choice for me. I was fortunate to be presented with two wonderful opportunities to further my career with excellent companies that are leaders in their field. While I looked forward to becoming a part of ProAssurance's management team, I decided that I couldn't pass up the opportunity to broaden my insurance knowledge by assuming a leadership position in the reinsurance field." ProAssurance Corporation's Chairman, A. Derrill Crowe, M.D., said, "We wish Ray all the best in his new endeavor. We looked forward to having him back with us, but we understand his desire to take on a new challenge. Ray assembled a talented team at NCRIC and we're lucky to be able to retain a solid core of NCRIC employees who have years of experience and local knowledge on which we can build our mid-Atlantic franchise." About ProAssurance ProAssurance Corporation is a specialty insurer with more than $3.4 billion in assets and almost $790 million in gross written premiums. We are the nation's fourth largest writer of medical professional liability insurance and our principal professional liability subsidiaries are The Medical Assurance Company, Inc., ProNational Insurance Company, NCRIC, Inc., and Red Mountain Casualty Insurance Company. We also write professional liability coverage through Woodbrook Casualty Insurance Company. We are the tenth largest writer of personal auto coverage in Michigan through our subsidiary, MEEMIC Insurance Company. A.M. Best assigns a rating of "A-" (Excellent) to ProAssurance, MEEMIC and our principal professional liability subsidiaries, except NCRIC, Inc. which is rated B++ (Very Good). Standard & Poor's assigns our principal professional liability carriers a rating of "A-" ("Strong") but has not yet issued a rating for NCRIC, Inc. Fitch assigns a rating of "A-" to The Medical Assurance Company, ProNational Insurance Company and MEEMIC Insurance Company. CONTACT: ProAssurance Corporation, Birmingham Frank B. O'Neil, 800-282-6242 or 205-877-4461 foneil@ProAssurance.com -----END PRIVACY-ENHANCED MESSAGE-----