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):  March 5, 2009

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 DISCLOSURES

On March 5, 2009 we issued a news release reporting Fitch Ratings affirmation of ProAssurance’s ratings and Stable outlook.

Item 9.01 Financial Statements and Exhibits

99.1 News release reporting Fitch Ratings affirmation of ProAssurance’s ratings and Stable outlook.

The information we are furnishing under Items 7.01 and 9.01 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:  March 6, 2009

PROASSURANCE CORPORATION

By:  /s/ Frank B. O’Neil

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Frank B. O’Neil

Senior Vice President

EX-99.1

NEWS RELEASE

For More Information Contact:

Frank B. O’Neil

Sr. Vice President, Corporate Communications & Investor Relations

800-282-6242 • 205-877-4461 • foneil@ProAssurance.com

Fitch Affirms ProAssurance’s Rating and Stable Outlook

BIRMINGHAM, AL — (PRNEWSWIRE) —March 5, 2009 –—Fitch Ratings has affirmed its ratings and Stable outlook for ProAssurance and its primary insurance subsidiaries.

In announcing its decision, Fitch says their rating action, “…considers the solid financial condition of PRA's operating subsidiaries as well as consistent profitability, financial and operating flexibility, and highly experienced management team. PRA has an established reputation for providing quality service and expertise in risk management in the medical malpractice line as well as a strong track record of aggressively defending non-meritorious claims, which enhances customer loyalty and reduces fraud.”

ProAssurance’s Chairman and Chief Executive Officer, Stan Starnes said, “Fitch’s affirmation comes after a detailed examination of our financials, including our reserves and investment portfolio, and an in-depth review of our disciplined approach to a line of business in which long-term financial strength is the best measure of success. This is especially meaningful in these uncertain economic times and speaks to our proven ability to produce excellent results through a disciplined, long-term focus on our customers’ needs.”

Fitch assigns an Insurer Financial Strength rating of “A” to all primary insurance subsidiaries of ProAssurance, and assigns the Corporation an Issuer Default Rating of “BBB+.” The outlook for all ratings is “Stable.” More information on our financial strength ratings is available for our website, www.ProAssurance.com. The website for Fitch Ratings is www.FitchRatings.com.

About ProAssurance

ProAssurance Corporation is the nation’s fifth largest writer of medical professional liability insurance. The company’s recently announced transactions with The PICA Group and Mid-Continent General Agency are expected to significantly increase ProAssurance’s medical professional liability business, and the strategic acquisition of Georgia Lawyers Insurance Company will add legal professional liability business and should facilitate expansion of that line of insurance in the southeast. ProAssurance is recognized as one of the top performing insurance companies in America by virtue of its inclusion in the Ward’s 50 for the past two years.

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