May 6, 2021
byProAssurance Corp. announced its acquisition of NORCAL Mutual Insurance Co. was completed May 5, 2021. NORCAL’s members approved the transaction at a special meeting on April 26. Under terms of a previously announced agreement, NORCAL became part of ProAssurance following its demutualization. Through its tender offer to NORCAL policyholders who… Continue reading...
March 5, 2021
byThe 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… Continue reading...
February 26, 2020
byAM Best has downgraded the Financial Strength Rating (FSR) to A (Excellent) from A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a+” from “aa-” for the members of ProAssurance Group. The outlook of the FSR has been revised to stable from negative whilst the outlook for the… Continue reading...
February 26, 2020
byAM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a-” from “a” for the members of NORCAL Group (NORCAL). Concurrently, AM Best has maintained the under review status on these Credit Ratings (ratings) and revised… Continue reading...
February 20, 2020
byProAssurance Corp. and NORCAL Group announced today the signing of a definitive agreement under which NORCAL would become a part of ProAssurance in a $450 million transaction following the demutualization of NORCAL Mutual Insurance Company (NORCAL Mutual), NORCAL's ultimate controlling party. The demutualization and the acquisition agreement are mutually contingent,… Continue reading...
December 10, 2019
byA.M. Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” of the members of NORCAL Group (NORCAL). (See below for a detailed listing of the companies.) The under review status follows NORCAL’s third-quarter 2019 results, which… Continue reading...
April 9, 2019
byA.M. Best affirmed a rating of “A” (Excellent) for NORCAL Group, and the ratings outlook continues to be “stable.” (NORCAL Group includes NORCAL Mutual Insurance Company and its affiliated insurance companies.) According to Best, the rating reflects NORCAL Group’s solid balance sheet, including its strong level of capitalization, improvements in… Continue reading...
March 5, 2019
byNORCAL Group is now offering new coverage options to the healthcare providers of Vermont and New Hampshire. “We are excited to extend our coverage to the medical communities in Vermont and New Hampshire,” said Michael Roque, Vice President of Business Development for NORCAL Group. “Our policy has been crafted to… Continue reading...
February 7, 2019
byThe NORCAL Group Foundation, dedicated to improving healthcare in local communities, announced its largest group of grant recipients to date. Nine organizations have been awarded funding for initiatives and programs focused on patient care, patient safety and physician wellness: • Anchorage Project Access (Anchorage, AK) • Beacon Clinic for Health… Continue reading...
September 5, 2018
byThe NORCAL Group Foundation, a non-profit organization that provides funding and support for healthcare initiatives focused on patient care, patient safety and physician wellness, is now accepting grant applications for qualifying programs through Oct. 15. Since its inception in 2017, the Foundation has provided grants and support for 13 worthy… Continue reading...