Exhibit 99.1

        ProAssurance Announces Settlement in Florida Malpractice Verdict

    BIRMINGHAM, Ala.--(BUSINESS WIRE)--March 12, 2007--ProAssurance
Corporation (NYSE:PRA) said today that a confidential settlement will
end all litigation and appeals stemming from, and related to, a $217
million malpractice verdict against insureds of one of its
subsidiaries. The verdict was rendered in Tampa in October 2006. The
settlement is subject to final court approval, which is anticipated by
all parties. ProAssurance currently believes there will be no material
adverse effect on first quarter results because of this settlement.

    About ProAssurance

    ProAssurance Corporation is the nation's fourth largest writer of
medical professional liability insurance through our principal
subsidiaries The Medical Assurance Company, Inc., ProNational
Insurance Company, NCRIC, Inc., Physicians Insurance Company of
Wisconsin, Inc., and Red Mountain Casualty Insurance Company, Inc. We
also write professional liability coverage through Woodbrook Casualty
Insurance, Inc.

    Caution Regarding Forward-Looking Statements

    Any statements in this News Release that are not historical facts
are specifically identified as forward-looking statements. These
statements are based upon our estimates and anticipation of future
events and 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. Forward-looking
statements are identified by words such as, but not limited to,
"anticipate," "believe," "estimate," "expect," "hope," "hopeful,"
"intend," "may," "optimistic," "potential," "preliminary," "project,"
"should," "will" and other analogous expressions. 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 news release clearly identified as giving our
outlook on future business.

    Forward-looking statements relating to our business include among
other things: statements concerning liquidity and capital
requirements, return on equity, financial ratios, net income,
premiums, losses and loss reserves, premium rates and retention of
current business, competition and market conditions, the expansion of
product lines, the development or acquisition of business in new
geographical areas, the availability of acceptable reinsurance,
actions by regulators and rating agencies, court judgment, legislative
actions, payment or performance of obligations under indebtedness,
payment of dividends, and other matters.

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

    --  general economic conditions, either nationally or in our
        market area, that are worse than anticipated;

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

    --  inflation and changes in the interest rate environment;

    --  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;

    --  changes to our ratings assigned by rating agencies;

    --  the effects of health care changes, including managed care;

    --  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 and/or insurance purchased by the corporation;

    --  our expectation of coverage under insurance or reinsurance
        policies we sell or purchase;

    --  bad faith litigation which may arise from our involvement in
        the settlement of claims;

    --  post-trial motions which may produce rulings adverse to us
        and/or appeals we undertake that may be unsuccessful;

    --  significantly increased competition among insurance providers
        and related pricing weaknesses in some markets;

    --  our ability to achieve continued growth through expansion into
        other states or through acquisitions or business combinations;

    --  the expected benefits from acquisitions may not be achieved or
        may be delayed longer than expected due to, among other
        reasons, business disruption, loss of customers and employees,
        increased operating costs or inability to achieve cost
        savings, and assumption of greater than expected liabilities;

    --  changes in accounting policies and practices that may be
        adopted by our regulatory agencies and the Financial
        Accounting Standards Board; and

    --  changes in our organization, compensation and benefit plans.

    You should not place undue reliance on any such forward-looking
statements, which speak only as of the date made. 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. Except as required by law or regulations, 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.

    Our results may differ materially from those we expect and discuss
in any forward-looking statements. The principal risk factors that may
cause these differences are described in various documents we file
with the Securities and Exchange Commission, such as our current
reports on Form 8-K, and our regular reports on Forms 10-Q and 10-K,
particularly in "Item 1A, Risk Factors."

    CONTACT: ProAssurance Corporation
             Frank B. O'Neil, 800-282-6242 or 205-877-4461
             Sr. Vice President, Corporate Communications &
             Investor Relations
             foneil@ProAssurance.com