Market Overview

ProAssurance Announces Leadership Changes


ProAssurance Corporation (NYSE:PRA) today announced that Howard H.
Friedman will retire from his role as President of Healthcare
Professional Liability. He will maintain his employment with the
Company, overseeing the continued development of the actuarial function,
an area that is taking on increased importance given current market

This press release features multimedia. View the full release here:

Howard H. Friedman (Photo: Business Wire)

Howard H. Friedman (Photo: Business Wire)

As a result of Mr. Friedman's decision, Michael L. Boguski, the current
President of Eastern Alliance Insurance Group (Eastern), ProAssurance's
workers' compensation subsidiary, is being promoted to President of
ProAssurance's Specialty P&C operations, which comprises all of
ProAssurance's professional and product liability operations.

Kevin M. Shook, the current Executive Vice President of Eastern and
formerly its Chief Financial Officer, is being promoted to become
Eastern's new President. These changes will be effective on May 13,
2019, and each executive will report directly to Ned Rand,
ProAssurance's President and Chief Operating Officer.

Mr. Rand, said, "Mike is an experienced insurance professional with a
proven track record in leading an organization that creates value,
delivers service excellence and maximizes operational performance. I am
confident our professional and product liability operations will rise to
even higher levels of success under his leadership. Kevin has been a
valuable partner and trusted advisor to Mike for the past 18 years and
is the ideal person to succeed him. Kevin understands the
customer-centric culture at Eastern and has been instrumental in
developing Eastern's industry-leading segregated portfolio cell
operations, which have become a differentiating factor for ProAssurance."

Mr. Friedman commented on his changing role in the organization, saying,
"I have been in the insurance business for almost forty years, nearly
all of it in healthcare professional liability. While my work has been
immensely rewarding, I also want the opportunity to enjoy other aspects
of life. I have been reflecting on this and with the blessing of Ned and
Stan Starnes, our Chief Executive Officer, I decided to step away from
my leadership role in healthcare and concentrate on the actuarial
function at ProAssurance while allowing me to spend more time with my
family and pursue personal activities outside of work."

"Throughout ProAssurance's history, we have been an innovative leader in
our markets, and have achieved long-term success across the insurance
cycles because of the effective strategies developed by an exceptional
management team. We expect the changes we are announcing today will
ensure that track record of success continues into the future. We are
especially indebted to Howard for his dedicated service to the
organization and are delighted that he will remain with ProAssurance in
a vital role. We are a better company because of him," said Stan
Starnes, the Chairman and Chief Executive Officer of ProAssurance.

About ProAssurance

ProAssurance Corporation is an industry-leading specialty insurer with
extensive expertise in healthcare professional liability, products
liability for medical technology and life sciences, legal professional
liability, and workers' compensation insurance. The company is
recognized as one of the top performing insurance companies in America
by virtue of our inclusion in the Ward's 50 for the past twelve years.
ProAssurance Group is rated "A+" (Superior) by A.M. Best; ProAssurance
and its operating subsidiaries are rated "A" (Strong) by Fitch Ratings.
For the latest on ProAssurance and its industry leading suite of
products and services, cutting edge risk management and practice
enhancement programs, follow @ProAssurance on Twitter or LinkedIn.
ProAssurance's YouTube channel regularly presents thought provoking,
insightful videos that communicate effective practice management,
patient safety and risk management strategies.

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