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): October 5, 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 7.01 Regulation FD Disclosure

We are furnishing presentation materials, included as Exhibit 99.1 to this report and incorporated herein by reference, which we are using in meetings with investors. The materials update and replace slides 29-31 in a presentation we previously provided in an 8K filing on September 8, 2005. We are incorprating that filing herein by reference. We expressly disclaim any obligation to further update either presentation and caution that they are only accurate on the date of the latest filing. The inclusion of any data or statements in this presentation does not signify that the information is considered material.

Caution Regarding Forward-Looking Statements

This filing contains historical information as well as forward-looking statements that are based upon our estimates and anticipation of future events that are subject to certain risks and uncertainties that could cause actual results to vary materially from the expected results described in the forward-looking statements. The words “anticipate,”“believe,”“estimate,”“expect,”“hopeful,”“intend,”“may,”“optimistic,”“preliminary,”“project,”“should,”“will,” and similar expressions are intended to identify these forward-looking statements. There are numerous important factors that could cause our actual results to differ materially from those in the forward-looking statements. Thus, sentences and phrases that we use to convey our view of future events and trends are expressly designated as Forward-Looking Statements as are sections of this filing clearly identified as giving our outlook on future business. The principal risk factors that may cause actual results to differ materially from those expressed in the forward-looking statements are described in various documents we file with the Securities and Exchange Commission, including our most recent Form 10K for the year ended December 31st and Form 10Q for the most recent quarter.

These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events:

Relating to the ongoing operations of the combined companies:

·General economic conditions, either nationally or in our market area, that are worse than expected;

·regulatory and legislative actions or decisions that adversely affect our business plans or operations;

·price competition;

·inflation and changes in the interest rate environment the performance of financial markets and/or changes in the securities markets that adversely affect the fair value of our investments or operations;

·changes in laws or government regulations affecting medical professional liability insurance and practice management and financial services;

·changes to our ratings assigned by A.M. Best;

·the effect of managed healthcare;

·uncertainties inherent in the estimate of loss and loss adjustment expense reserves and reinsurance; and changes in the availability, cost, quality, or collectibility of reinsurance;

·significantly increased competition among insurance providers and related pricing weaknesses in some markets.

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·changes in accounting policies and practices, as may be adopted by our regulatory agencies and the Financial Accounting Standards Board; and

·changes in our organization, compensation and benefit plans.

Relating to our recent transaction with NCRIC:

·The business of ProAssurance and NCRIC may take longer to combine than we expected;

·the cost savings from the merger may not be fully realized or may take longer to realize than expected;

·operating costs, customer loss and business disruption following the merger, including adverse effects on relationships with employees, may be greater than expected; and

·restrictions on our ability to achieve continued growth through expansion into other states or through acquisitions or business combinations.

We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and wish to advise readers that the factors listed above could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. We do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

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Item 9.01 Financial Statements and Exhibits

Exhibit 99.1 - Updated presentation materials for October, 2005 investor meetings. First used in meetings on October 5, 2005

We are furnishing the exhbit to this Form 8-K in accordance with item 7.01, Regulation FD Disclosure. 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: October 6, 2005

PROASSURANCE CORPORATION

By: /s/ Howard H. Friedman

Howard H. Friedman

Secretary

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EX-99.1

C/A Yr	Premium	Initial Reserve	Developed Loss
1976	1,100	$950	$950
1977	1,142	$960	$960
1978	1,148	$1,171	$1,171
1979	1,141	$1,398	$1,398
1980	1,184	1,209	1,659
1981	1,268	1,387	2,032
1982	1,333	1,546	2,166
1983	1,509	1,723	2,464
1984	1,911	1,921	2,676
1985	2,448	2,510	2,784
1986	3,574	3,782	2,649
1987	4,212	3,904	2,551
1988	4,281	3,892	2,437
1989	4,461	4,402	2,654
1990	4,256	4,470	2,844
1991	3,935	4,455	3,296
1992	4,019	4,727	3,587
1993	4,195	4,786	3,863
1994	4,607	5,131	4,325
1995	4,693	5,152	4,873
1996	4,769	4,973	5,041
1997	4,937	5,259	5,597
1998	5,061	5,234	5,808
1999	5,130	5,098	5,716
2000	5,494	5,066	5,368
2001
2002
2003
2004

C/A Yr	Premium	Initial Reserve	Developed Loss
1976	1,100	$950	$950
1977	1,142	$960	$960
1978	1,148	$1,171	$1,171
1979	1,141	$1,398	$1,398
1980	1,184	1,209	1,659
1981	1,268	1,387	2,032
1982	1,333	1,546	2,166
1983	1,509	1,723	2,464
1984	1,911	1,921	2,676
1985	2,448	2,510	2,784
1986	3,574	3,782	2,649
1987	4,212	3,904	2,551
1988	4,281	3,892	2,437
1989	4,461	4,402	2,654
1990	4,256	4,470	2,844
1991	3,935	4,455	3,296
1992	3,879	4,727	3,429
1993	4,032	4,786	3,678
1994	4,414	5,131	4,128
1995	4,513	5,152	4,638
1996	4,528	4,973	4,765
1997	4,670	5,259	5,365
1998	4,761	5,234	5,785
1999	4,888	5,098	5,829
2000	5,228	5,066	5,538
2001	5,641	5,915	5,985
2002
2003
2004

C/A Yr	Premium	Initial Reserve	Developed Loss
1976	1,100	$950	$950
1977	1,142	$960	$960
1978	1,148	$1,171	$1,171
1979	1,141	$1,398	$1,398
1980	1,184	1,209	1,659
1981	1,268	1,387	2,032
1982	1,333	1,546	2,166
1983	1,509	1,723	2,464
1984	1,911	1,921	2,676
1985	2,448	2,510	2,784
1986	3,574	3,782	2,649
1987	4,212	3,904	2,551
1988	4,281	3,892	2,437
1989	4,461	4,402	2,654
1990	4,256	4,470	2,844
1991	3,935	4,455	3,296
1992	3,879	4,727	3,429
1993	3,991	4,786	3,637
1994	4,344	5,131	4,028
1995	4,451	5,152	4,562
1996	4,472	4,973	4,725
1997	4,617	5,259	5,365
1998	4,713	5,234	5,872
1999	4,841	5,098	5,961
2000	5,182	5,066	6,030
2001	5,604	5,915	6,324
2002	6,785	6,777	6,834
2003
2004

C/A Yr	Premium	Initial Reserve	Developed Loss
1976	1,100	$950	$950
1977	1,142	$960	$960
1978	1,148	$1,171	$1,171
1979	1,141	$1,398	$1,398
1980	1,184	1,209	1,659
1981	1,268	1,387	2,032
1982	1,333	1,546	2,166
1983	1,509	1,723	2,464
1984	1,911	1,921	2,676
1985	2,448	2,510	2,784
1986	3,574	3,782	2,649
1987	4,212	3,904	2,551
1988	4,281	3,892	2,437
1989	4,461	4,402	2,654
1990	4,256	4,470	2,844
1991	3,935	4,455	3,296
1992	3,879	4,727	3,429
1993	3,991	4,786	3,637
1994	4,360	5,131	4,039
1995	4,477	5,152	4,594
1996	4,514	4,973	4,787
1997	4,668	5,259	5,399
1998	4,775	5,234	6,041
1999	4,893	5,098	6,225
2000	5,180	5,066	6,427
2001	5,538	5,915	6,882
2002	6,709	6,777	7,063
2003	7,863	7,198	7,198
2004

C/A Yr	Premium	Initial Reserve	Developed Loss
1976	1,100	$950	$950
1977	1,142	$960	$960
1978	1,148	$1,171	$1,171
1979	1,141	$1,398	$1,398
1980	1,184	1,209	1,659
1981	1,268	1,387	2,032
1982	1,333	1,546	2,166
1983	1,509	1,723	2,464
1984	1,911	1,921	2,676
1985	2,448	2,510	2,784
1986	3,574	3,782	2,649
1987	4,212	3,904	2,551
1988	4,281	3,892	2,437
1989	4,461	4,402	2,654
1990	4,256	4,470	2,844
1991	3,935	4,455	3,296
1992	3,879	4,727	3,429
1993	3,991	4,786	3,637
1994	4,360	5,131	4,039
1995	4,431	5,152	4,554
1996	4,472	4,973	4,733
1997	4,632	5,259	5,356
1998	4,699	5,234	5,971
1999	4,793	5,098	6,114
2000	5,075	5,066	6,232
2001	5,472	5,915	6,815
2002	6,704	6,777	7,208
2003	7,985	7,198	7,259
2004	8,346	7,049	7,049

C/A Yr	Premium	Initial Reserve	Developed Loss
1976	1,100	$950	$950
1977	1,142	$960	$960
1978	1,148	$1,171	$1,171
1979	1,141	$1,398	$1,398
1980	1,184	1,209	1,659
1981	1,268	1,387	2,032
1982	1,333	1,546	2,166
1983	1,509	1,723	2,464
1984	1,911	1,921	2,676
1985	2,448	2,510	2,784
1986	3,574	3,782	2,649
1987	4,212	3,904	2,551
1988	4,281	3,892	2,437
1989	4,461	4,402	2,654
1990	4,256	4,470	2,844
1991	3,935	4,455	3,296
1992	4,019	4,727	3,587
1993	4,195	4,786	3,863
1994	4,607	5,131	4,325
1995	4,693	5,152	4,873
1996	4,769	4,973	5,041
1997	4,937	5,259	5,597
1998	5,061	5,234	5,808
1999	5,130	5,098	5,716
2000	5,494	5,066	5,368
2001
2002
2003
2004