AM Best Downgrades Credit Ratings of ProAssurance Group and ProAssurance Corporation

February 26, 2020 by matray

AM 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...

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AM Best Downgrades Credit Ratings of NORCAL Group; Revises Under Review Status to Developing from Negative

February 26, 2020 by matray

AM 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...

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ProAssurance to Acquire NORCAL Group

February 20, 2020 by matray

ProAssurance 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...

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A.M. Best Places Credit Ratings of NORCAL Group’s Members Under Review With Negative Implications

December 10, 2019 by matray

A.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...

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A.M. Best Affirms “A” (Excellent) Rating for NORCAL Group, Outlook Remains Stable

April 9, 2019 by matray

A.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...

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NORCAL Group Expands Its Medical Professional Liability Offerings in New England

March 5, 2019 by matray

NORCAL 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...

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NORCAL Group Foundation Awards Nine Grants Focused on Improving Health & Wellness

February 7, 2019 by matray

The 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...

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NORCAL Group Foundation Opens Fall Grant Cycle Applications Now Being Accepted

September 5, 2018 by matray

The 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...

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NORCAL Group Foundation Awards Six Grants Focused on Improving Health & Wellness

July 23, 2018 by matray

The NORCAL Group Foundation, dedicated to improving healthcare in local communities, is pleased to announce its Spring 2018 grant recipients. Six organizations have been awarded funding for initiatives and programs focused on patient care, patient safety and physician wellness: • Asian Health Services  of Oakland, CA • Indian Doctor’s Club… Continue reading...

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NORCAL Mutual Earns Top Honor at 60th Annual IMCA Awards

July 5, 2018 by matray

NORCAL Mutual Insurance Co. won the coveted SAMMY Award for “best overall work” at the 60th annual Insurance Marketing & Communications Association (IMCA) Showcase Awards on June 26. The award honored NORCAL’s Employee Appreciation campaign, which thanked employees for their hard work throughout 2017. The SAMMY Award, selected by conference… Continue reading...

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