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UNITED STATES |
SECURITIES AND EXCHANGE COMMISSION |
Washington, D.C. 20549 |
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FORM | 8-K |
CURRENT REPORT |
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| Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 |
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Date of Report (Date of earliest event reported): August 16, 2023 |
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| ProAssurance Corporation |
(Exact name of registrant as specified in its charter) |
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| Delaware | 001-16533 | 63-1261433 |
(State of Incorporation) | (Commission File No.) | (IRS Employer I.D. No.) |
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| 100 Brookwood Place, | Birmingham, | AL | 35209 |
| (Address of Principal Executive Office ) | (Zip code) |
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Registrant’s telephone number, including area code: | (205) | 877-4400 |
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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)) |
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| Securities registered pursuant to Section 12(b) of the Act: |
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, par value $0.01 per share | PRA | New York Stock Exchange |
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| Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). |
| Emerging growth company | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ |
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS, COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
On August 16, 2023 we issued a news release announcing Dr. Ross E. Taubman's retirement as PICA Group President, effective March 31, 2024. The text of the release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
The information we are furnishing under Item 9.01 of this Current Report on Form 8K, including Exhibit 99.1, are 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: August 16, 2023
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| PROASSURANCE CORPORATION |
| by: /s/ Jeffrey P. Lisenby |
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Jeffrey P. Lisenby
General Counsel |
NEWS RELEASE
For More Information:
Jeffrey P. Lisenby, General Counsel
ProAssurance Announces Retirement of PICA Group President, Dr. Ross E. Taubman
BIRMINGHAM, AL – (BUSINESSWIRE) – August 16, 2023 – PICA Group, part of the ProAssurance family of companies, announced today the retirement of Dr. Ross E. Taubman, DPM. effective March 31, 2024, after 12 years of dedicated service.
During his tenure, Dr. Taubman has been a valuable leader of the PICA Group team, overseeing PICA and OUM since he joined the company in 2011, as well as assuming responsibility as the head of PICA Group’s additional business units, DentistCare and LawyerCare, in 2019.
Throughout his time as President, Dr. Taubman demonstrated exceptional strategic vision and a passion for innovation. His commitment has helped PICA Group expand its market presence and deliver exceptional results. Under his guidance, PICA has received the Top Workplaces Award in Middle Tennessee for eight consecutive years.
Ned Rand, CEO of ProAssurance, expressed gratitude for Taubman’s contributions saying, “We would like to extend our sincere appreciation to Ross for his outstanding leadership and unwavering dedication. He has played a pivotal role in positioning PICA Group as a leader in the professional liability marketplace, and we are grateful for his contributions to the growth and success of our company. His positive impact on the organization, mentorship to colleagues, and ability to foster a collaborative work environment will leave a lasting impression.”
Upon Ross’ retirement, Margaret Christian, Senior Vice President, will assume the leadership of the PICA Group. Luke Cicchinelli, DPM, who was hired in May 2023, will continue to serve as Chief Medical Director.
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.
ProAssurance Group is rated “A” (Excellent) by AM Best; NORCAL Group is rated “A-” (Excellent) by AM Best. ProAssurance and its operating subsidiaries (excluding NORCAL Group) 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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