March 5, 2021 by matray

LAMMICO was named one of the “101 Best and Brightest Companies to Work For” by the National Association for Business Resources, which recognized the winning companies in The Wall Street Journal. The 101 national winners were identified as organizations that deliver exceptional human resource practices and an impressive commitment to their employees. The companies display a commitment to excellence in operations and employee enrichment that leads to increased productivity and financial performance.

Potential honorees were assessed by an independent research firm and scored based on regional data of company performance and a set standard across the nation. Organizations were evaluated on categories such as communication, work-life balance, employee education, diversity, recognition, retention and more.

The “Best and Brightest Companies to Work For” winners will be honored at the Illuminate Business Summit on March 24-26 in Dallas. During the Illuminate Business Summit, LAMMICO and the other honored companies will be celebrated for demonstrating exceptional innovative human resource practices and setting high standards for all businesses.

“Receiving this national honor is a testament to the LAMMICO culture and the dedication of its employees,” said J. Michael Conerly, MD, LAMMICO president and chief executive officer. “I couldn’t be more proud of this team and this company and all we do to serve the healthcare providers we insure.”

March 5, 2021 by matray

The board of directors for NORCAL Mutual has begun solicitation of policyholders to vote on NORCAL’s plan to convert from a mutual company to a stock company and to elect the form of payment they wish to receive if the conversion occurs.

On Feb. 20, 2020, ProAssurance Corp. and NORCAL Group announced the signing of a definitive agreement under which NORCAL would become a part of ProAssurance in a $450 million transaction following its demutualization. The demutualization and the acquisition agreement are mutually contingent and subject to required regulatory and policyholder approvals.

As part of this process, ProAssurance’s transfer agent Computershare has mailed documentation and materials to NORCAL’s eligible policyholders. Further, ProAssurance has begun solicitation of policyholders who elect to receive NORCAL stock in the conversion, asking them to respond to the tender offer and agree to sell those shares on the terms of the offer. Policyholders who elect NORCAL stock and tender it to ProAssurance will receive their allocated share of the $450 million cash transaction proceeds and be eligible for a share of Contingent Consideration in an amount of up to $150 million, depending upon development of NORCAL’s ultimate net losses between Dec. 31, 2020, and Dec. 31, 2023.

Eligible NORCAL policyholders can visit https://norcalconversion.com using login credentials provided in the documents mailed by Computershare, wherein they will be able to cast their vote on NORCAL’s Plan of Conversion and elect their desired form of payment.

The general public may visit https://www.norcal-group.com/pra for copies of documents and more information about the proposed transaction.