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 15, 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 RELEASE

     On October 15, 2007 we issued a press release reporting our decision to
redeem the outstanding debentures of our subsidiary, NCRIC Corporation (formerly
NCRIC Group, Inc.), on December 4, 2007. We will fund the redemption with
approximately $16 million of our outstanding authorization to repurchase shares
or debt securities.


Item 9.01    Financial Statements and Exhibits

                 99.1  Press release reporting our decision to redeem the
                       outstanding debentures of its subsidiary, NCRIC
                       Corporation.

The information we are furnishing under Items 7.01 of this Report shall not be
deemed to be "filed" for the purposes of Section 18 of the Securities and
Exchange Act of 1934 (the "Exchange Act") as amended, or otherwise subject to
the liability of that section, nor shall such information be deemed incorporated
by reference in any filing under the Securities Act of 1933, as amended, 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 15, 2007

                                           PROASSURANCE CORPORATION




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

EX-99.1

                                                                    Exhibit 99.1

             ProAssurance Announces Debenture Redemption


    BIRMINGHAM, Ala.--(BUSINESS WIRE)--Oct. 15, 2007--ProAssurance
Corporation (NYSE: PRA) announced today that it will redeem the
outstanding debentures of its subsidiary, NCRIC Corporation (formerly
NCRIC Group, Inc.), on December 4, 2007.

    "We are continuing to utilize our excess capital and we will fund
the redemption with approximately $16 million of our outstanding
authorization to repurchase shares or debt securities," said Chief
Executive Officer, W. Stancil Starnes.

    The redemption is being conducted pursuant to Article X,
Redemption of Securities, of the Trust Indenture dated December 4,
2002. Holders of the securities involved will be notified by the
Trustee.

    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.
ProAssurance is one of the 100 largest property-casualty insurance
groups in the nation, based on Net Written Premium. ProAssurance was
recently recognized as a member of the Ward's 50 for 2007, indicative
of long-term superior financial performance and outstanding insurance
security.

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