BIRMINGHAM, Ala.--(BUSINESS WIRE)--
ProAssurance Corporation (NYSE:PRA) today announced that Edward L. “Ned”
Rand, Jr. is assuming additional responsibilities as President of the
Company. Mr. Rand has been serving as Chief Operating Officer since
January 2018. Prior to being promoted to that position he served 13
years as the Chief Financial Officer for ProAssurance.
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Edward L. (Ned) Rand, Jr. President, ProAssurance Corporation (Photo: Business Wire)
Chairman and Chief Executive Officer Stan Starnes said, “Ned’s exemplary
leadership has prepared ProAssurance to take advantage of the
opportunities we expect to emerge as a result of changing loss trends in
the healthcare professional liability market, while ensuring that we are
also prepared to sustain our position of leadership as those market
trends evolve. The Board and I have come to rely on Ned’s wisdom and
insight into all our lines of business and we are confident that his
leadership will continue to create value for our employees, customers
and shareholders.”
ProAssurance’s line of business leaders will continue to exercise broad
responsibilities for the success of their respective lines of business
and will report directly to Mr. Rand and through him to Mr. Starnes.
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.
Caution Regarding Forward-Looking Statements
Statements in this news release that are not historical fact or that
convey our view of future business, events or trends are specifically
identified as forward-looking statements. Forward-looking statements are
based upon our estimates and anticipation of future events and highlight
certain risks and uncertainties that could cause actual results to vary
materially from our expected results. We expressly claim the safe harbor
provisions of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, for any
forward-looking statements in this news release. Forward-looking
statements represent our outlook only as of the date of this news
release. Except as required by law or regulation, 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. There are
a number of risk factors that may cause outcomes that differ from our
expectations or projections. These are described in detail in various
documents filed by ProAssurance Corporation with the Securities and
Exchange Commission, such as current reports on Form 8-K, and regular
reports on Forms 10-Q and 10-K, particularly in “Item 1A, Risk Factors.”
View source version on businesswire.com: https://www.businesswire.com/news/home/20181203005643/en/
Frank B. O’Neil, IRC
Sr. Vice President, Corporate Communications &
Investor Relations
800-282-6242 • 205-877-4461 • foneil@ProAssurance.com
Source: ProAssurance Corporation