ProAssurance history

MAIC Holdings acquires Missouri Medical Insurance Company (MOMEDICO), expanding westward and providing a base for operations in the Central United States MOMEDICO was a publicly-traded Missouri insurer founded by Missouri physicians in 1978.

ProNational, was previously known as Physicians Insurance Company of Michigan (PICOM). In 1980, Detroit physicians stepped up to create PICOM after the State of Michigan decided to return its temporary medical professional liability insurance source, the Brown-McNeely Fund, to the private sector.

Mutual Assurance purchases Physicians Insurance Company of Indiana (PICI), formed in 1982.

PIC WISCONSIN was established to provide affordable professional liability coverage for Wisconsin Medical Society physicians in 1986, during the height of the medical professional liability crisis.

NORCAL Mutual acquires Preferred Physicians Medical Risk Retention Group, a Mutual Insurance Company (PPM), an anesthesiologist founded, specialty specific insurer established in 1987.

Active in Nevada since 1993 and seeking to expand westward, ProAssurance was impressed with the quality of IND’s operations and their demonstrated commitment to their physician insureds.

Medical Assurance became ProAssurance Indemnity Company, Inc. when it merged with ProNational in 2001 to form ProAssurance.

The sale was completed on January 4, 2006.

On April 1, 2009, ProAssurance acquired Podiatry Insurance Company of America, A Mutual Company (PICA) in a sponsored demutualization.

Medicus was acquired by NORCAL Mutual in 2011.

In 2012 ProAssurance acquired IND and immediately became Nevada’s top medical professional liability insurer with 6,000 new insureds and a strong base of local operations.

In 2013, ProAssurance acquires Medmarc Insurance Group in a sponsored demutualization.

On January 1, 2014 ProAssurance acquires Eastern Insurance Holdings, Inc., a publicly traded healthcare-centric writer of worker's compensation insurance.

In September 2017, ProAssurance Corporation endowed the University of Alabama School of Medicine $1.5 million to establish the ProAssurance Endowed Chair for Physician Wellness.