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): April 2, 2007

                            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

         On April 2, 2007 we issued a news release announcing the authorization
of $150 million to repurchase our shares or debt securities. The authorization
is effective immediately, but the timing and quantity of any purchases will
depend on market conditions and changes in our capital requirements.
Additionally, our repurchase activity is subject to limitations that may be
imposed on such purchases by applicable securities laws and regulations, and the
rules of the New York Stock Exchange. A copy of that news release, containing
important risk factors, is furnished as Exhibit 99.1 to this filing.


Item 9.01     FINANCIAL STATEMENTS AND EXHIBITS

99.1   News release, dated April 2, 2007, announcing the authorization of $150
       million to repurchase our shares or debt securities.


We are furnishing exhibit 99.1 to this Current Report on 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.


Date: April 3, 2007



                                            PROASSURANCE CORPORATION







                                            By:  /s/ Frank B. O'Neil
                                            ------------------------------------
                                                     Frank B. O'Neil
                                                     Senior Vice-President

EX-99.1

                                                                    Exhibit 99.1

          ProAssurance Announces $150 Million Repurchase Authorization


    BIRMINGHAM, Ala.--(BUSINESS WIRE)--April 2, 2007--The Board of
Directors of ProAssurance Corporation (NYSE:PRA) today authorized $150
million to repurchase our shares or debt securities. The authorization
is effective immediately, but the timing and quantity of any purchases
will depend on market conditions and changes in our capital
requirements. Additionally, our repurchase activity is subject to
limitations that may be imposed on such purchases by applicable
securities laws and regulations, and the rules of the New York Stock
Exchange.

    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 in our capital requirements;

    --  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
             Sr. Vice President, Corporate Communications
             & Investor Relations
             800-282-6242 or 205-877-4461
             foneil@ProAssurance.com