The acquisition has been fully approved by regulators and was completed on June 26, 2026. By uniting the strengths of our two companies, we’re not just growing in scale; we’re deepening our commitment to advocacy, exceptional service, and long-term stability in a complex insurance landscape.
As a physician-led and mission-focused organization, we remain dedicated to advancing, protecting, and rewarding the practice of good medicine.
Read the Press Release
Richard E. Anderson, MD, FACPChairman and CEO
Robert E. White, Jr.President
Deepika SrivastavaChief Operating Officer
Marco VanderlaanChief Financial Officer
David McHaleChief Legal and Human Resources Officer
Robert KauffmanPresident,TDC Specialty
Stephen FreedmanRegional Operating Officer
Laura KlineRegional Operating Officer
SVP, Business Development
Christian GrouxInterim Regional Operating Officer
Brittnie HayesInterim SVP, Claims
Julie RitzmanSVP, Patient Safety
Todd ZeiterChief Underwriting Officer
The following FAQs cover certain questions agents and brokers may have regarding the transaction and what to expect at and immediately following the close of the transaction. If you have additional medical professional liability (MPL) questions, please call Agency Support at (800) 421-2368, extension 1391, or send an email to agencysupport@thedoctors.com.
Admitted Medical Professional Liability FAQs
Founded in 1976, The Doctors Company is the nation’s largest physician-owned medical malpractice insurer, relentlessly committed to its mission of advancing, protecting, and rewarding the practice of good medicine. Prior to the acquisition, The Doctors Company had $8.4 billion in assets and $3.4 billion in member surplus. Post-acquisition, the company has $12 billion in assets. The Doctors Company is rated A by AM Best and Fitch Ratings.
The Doctors Company provides expert guidance, resources, and innovative coverage solutions for over 200,000 healthcare professionals nationwide. The Doctors Company rewards members with the Tribute® Plan, an unrivaled career benefit that recognizes members for their loyalty and commitment to the practice of good medicine. With risk management experts available 24/7 and aggressive defense in the courtroom, The Doctors Company leads the industry in how it supports the profession and partners with those who provide care.
The Doctors Company is committed to maintaining its leadership in protecting and advancing the practice of good medicine for healthcare professionals and organizations of all types and sizes. ProAssurance has shared a similar mission in serving its leading institutions and practitioners with excellence. Both companies have operated in a healthcare sector where consolidation is rife at every level and across every discipline. As the sector continues to evolve, fully servicing the demands and requirements of these new, more powerful entities will take medical professional liability and specialty insurers of similar stature, profile, and influence. By joining forces, our companies can harness the extraordinary talent, experience, and specialized expertise now on hand to deliver solutions at the scale required by these new healthcare organizations and healthcare delivery models.
No, that is absolutely not our intention. Our goal is rate stability for our agent and broker partners, and we have a strong track record of delivering that in prior acquisitions. We are not planning broad-based repricing or re-underwriting as a result of the transaction. That said, individual insureds’ premiums may still change based on their own underwriting profile, loss experience, or other risk factors. In some states where ProAssurance currently has lower rates than The Doctors Company, we will work to adopt those lower rates where possible.
We do not anticipate any changes to risks written on ProAssurance paper. Your current arrangements will remain in place, ensuring continuity during the transition.
ProAssurance brokers with ProAssurance-only authority will continue to submit to ProAssurance. The Doctors Company Business Development team will start the admitted MPL contracting and onboarding process as soon as possible post-close. Our intent is to contract with all ProAssurance authorized brokers and assign authority in the states where you have it with ProAssurance.
Admitted MPL brokers with The Doctors Company–only authority should continue to submit to The Doctors Company. Please note that ProAssurance authority will not be extended to The Doctors Company–only MPL brokers.
Brokers with dual ProAssurance and The Doctors Company admitted MPL authority will be able to decide which company gets the submission. ProAssurance and The Doctors Company will not issue separate admitted MPL quotes for the same submission, nor will both companies quote to determine which company has the most competitive terms. Your experience working with each company should guide you to the company most appropriate for your submission. We are not anticipating materially different response times for the companies.
There are no changes to the renewal processes for either The Doctors Company or ProAssurance. As changes occur in the future, you will be notified well in advance to ensure a smooth transition. In order to ensure consistency of service levels during the integration process, we would discourage BORs on renewals.
Our intent is for current product offerings to remain as they are today, with the same underwriting considerations as there are today. As we integrate the companies, we will keep you notified of any material coverage or appetite changes.
No, there are no changes to the current AOR/BOR guidelines for ProAssurance, including the rule regarding the inability to AOR/BOR ProAssurance direct business.
For The Doctors Company, the existing AOR/BOR guidelines remain in effect. These guidelines apply to policies written on the paper of The Doctors Company or The Doctors Company Risk Retention Group. However, The Doctors Company has recently introduced new PE/MSO Quoting Guidelines (6/2026) that provide a consistent framework for handling private equity acquisitions, MSO enrollments, and practice separations involving The Doctors Company–insured entities. These guidelines are located in the Agent/Broker Area of The Doctors Company portal.
Post-close, when your client transitions to a policy issued by The Doctors Company or starts or renews on a ProAssurance policy,* The Doctors Company will start to accrue a Tribute balance for them. This initial balance will be based on their annual premium amount multiplied by the Tribute funding rate current at the time. The 5 years of continuous coverage required for Tribute eligibility will commence on the date your client transitions to a policy issued by The Doctors Company or the post-close date on which your client renews on a ProAssurance policy, whichever is earlier.
To receive any Tribute award distribution, your clients must be insured by The Doctors Company. To qualify for a retirement distribution, your clients must be 55 years of age or older with 5 continuous years of coverage from The Doctors Company (including any post-closing start or renewal of a ProAssurance policy) and permanently retire from the practice of medicine. See full terms and conditions.
*The phrase “a ProAssurance policy” includes reference to any admitted MPL policy issued by a subsidiary or affiliate of ProAssurance Corporation in force immediately prior to transitioning to an admitted MPL policy issued by The Doctors Company, an Interinsurance Exchange.
After Day 1 of the acquisition, there will be no immediate changes to established contacts. Existing ProAssurance agents will continue to have the same main point of contact within the combined organization as they currently do. Agents should maintain their existing relationships and follow their current procedures with both ProAssurance and The Doctors Company. If points of contact changes are planned in the future, agents will be notified in advance to ensure a smooth transition and ongoing support.
After the acquisition, ProAssurance employees—including those who support agents and brokers—will continue in their current roles and responsibilities for the immediate future. There will be no immediate changes to employee assignments, reporting structures, or day-to-day operations. Integration plans resulting in changes will be communicated in advance to ensure a smooth transition and ongoing support. Employees are encouraged to maintain their current procedures and relationships, and any future updates to organizational structure or roles will be shared ahead of time to help employees adapt and continue delivering seamless service.
No, there are no immediate actions required for agents to ensure seamless service to clients during the transition. Agents should continue to follow their current procedures and maintain existing arrangements, as there will be no immediate changes to processes, products, points of contact, or employee roles. If any updates or changes are planned in the future, agents will be notified in advance to ensure a smooth transition and ongoing support.
There will be no immediate updates to the technology platforms, portals, or processes you use to manage client accounts. You should continue utilizing your current systems and procedures, as all existing arrangements remain in place to ensure continuity and a smooth transition. If any changes or enhancements to technology or processes are planned in the future, you will be notified in advance so you can prepare and adapt accordingly.
We are excited about two strong insurance leaders coming together to meet the evolving requirements of our MPL producer community. The combined organization is committed to ensuring agents and brokers are fully informed and supported when communicating any changes to clients. If there are updates to products, coverage options, technology platforms, points of contact, or organizational structure in the future, agents and brokers will receive advance notice and clear guidance. This will include timely communications, detailed instructions, and any necessary resources to help you deliver accurate information and ensure a smooth transition for your clients. Until any changes are announced, you should continue with your current procedures and maintain existing arrangements.
At this time, there are no immediate changes to the organizational structure for agents and brokers, and existing procedures and relationships will continue as usual. If any updates to the organizational structure are planned in the future, the combined organization will provide advance notice along with training and resources to support agents and brokers through the transition. This will include clear communication, guidance, and any necessary materials to ensure you can adapt smoothly and continue delivering excellent service to your clients.
“Day 1” refers to the period immediately following the close of the transaction, during which there are no changes to agent compensation, submission processes, products, systems, or points of contact. There is no predetermined end date for this initial period. Any future changes, should they occur, will be thoughtfully planned and communicated well in advance to ensure continuity of service and minimize disruption for agents, brokers, and their clients. Until such changes are formally announced, agents and brokers should continue to follow their current procedures and maintain existing arrangements.
Call The Doctors Company Agency Support at (800) 421-2368, extension 1391, or send an email to agencysupport@thedoctors.com to update your agency’s contact list.
E&S/Hospitals/MedFac/Long-Term Care FAQs
TDC Specialty, the marketing name for TDC Specialty Underwriters, Inc.; TDC Specialty Insurance Company; TDC National Assurance Company; Healthcare Risk Advisors, Inc.; and Hospitals Insurance Company, Inc., is focused on providing specialty insurance capabilities and related services to the rapidly evolving healthcare industry. TDC Specialty's experienced experts design liability solutions for a variety of healthcare organizations and professionals, including hospitals, physicians, physician groups, medical and long-term care facilities, managed care organizations, and life sciences organizations.
The Doctors Company is committed to maintaining its leadership in protecting and advancing the practice of good medicine for healthcare professionals and organizations of all types and sizes. ProAssurance has shared a similar mission in serving its leading institutions and practitioners with excellence. Both companies have operated in a healthcare sector where consolidation is rife at every level and across every discipline. As the sector continues to evolve, fully servicing the demands and requirements of these new, more powerful entities will take medical professional liability and specialty insurers of similar stature, profile, and influence. By joining forces, our companies can harness the extraordinary talent, experience, and specialized expertise now on hand to deliver solutions at the scale required by these new healthcare organizations and healthcare delivery models.
We do not anticipate any changes to risks written on ProAssurance paper. Your current arrangements will remain in place, ensuring continuity during the transition.
Post-close, all new business submissions (excluding hospitals) should be sent to submissions@tdcspecialty.com.
Hospital submission processes for both ProAssurance and TDC Specialty remain unaltered.
All ProAssurance physician business will default to review by The Doctors Company. Risks not eligible for The Doctors Company coverage will be considered by TDC Specialty, consistent with and depending on applicable regulatory requirements.
Any brokers without current access to TDC Specialty products will receive instructions on how to contact TDC Specialty Business Development for consideration of approved broker status upon receipt of a submission.
Any new business submission that has been quoted on ProAssurance paper prior to close will be honored on ProAssurance paper. Any submission reviewed/underwritten but not yet formally quoted will be eligible for placement on ProAssurance paper, provided the quote is released within 30 days of close.
All renewals of policies written on ProAssurance paper should be treated as business as usual and follow the existing ProAssurance renewal process, subject to any notice requirements. Exceptions will be permitted if brokers request for submissions to move from ProAssurance to TDC Specialty at renewal.
All renewals of policies written through TDC Specialty Underwriters should be treated as business as usual and follow the existing TDC Specialty Underwriters renewal process, with the exception of physician business that will first be reviewed by The Doctors Company.
Post-close, BOR changes will not generally be accepted in connection with business transitioning from ProAssurance to TDC Specialty.
Our intent is for current product offerings to remain as they are today, with the same underwriting considerations as there are today. As we integrate the companies, we will keep you notified of any material coverage or appetite changes.
After Day 1 of the acquisition, existing ProAssurance Specialty brokers will continue to have the same main point of contact within the combined organization as they currently do. There will be no immediate changes to established contacts. Brokers should maintain their existing relationships and follow their current procedures with both ProAssurance Specialty and TDC Specialty. If any updates to points of contact are planned in the future, brokers will be notified in advance to ensure a smooth transition and ongoing support.
After the acquisition, ProAssurance Specialty employees—including those who support brokers—will continue in their current roles and responsibilities for the immediate future. There will be no immediate changes to employee assignments, reporting structures, or day-to-day operations. Integration plans resulting in changes will be communicated in advance to ensure a smooth transition and ongoing support. Employees are encouraged to maintain their current procedures and relationships, and any future updates to organizational structure or roles will be shared ahead of time to help employees adapt and continue delivering seamless service.
No, there are no immediate actions required for brokers to ensure seamless service to clients during the transition. Brokers should continue to follow their current procedures and maintain existing arrangements, as there will be no immediate changes to processes, products, points of contact, or employee roles. Brokers will be notified in advance of any necessary updates or changes to ensure a smooth transition and ongoing support.
There will be no immediate updates to the technology platforms, portals, or processes you use to manage client accounts. You should continue utilizing your current systems and procedures, as all existing arrangements remain in place to ensure continuity and a smooth transition. If any changes or enhancements to technology or processes are planned in the future, you will be notified in advance so you can prepare and adapt accordingly.
We are excited about two strong insurance leaders coming together to meet the evolving requirements of our producer community. The combined organization is committed to ensuring brokers are fully informed and supported when communicating any changes to clients. If there are updates to products, coverage options, technology platforms, points of contact, or organizational structure in the future, brokers will receive advance notice and clear guidance. This will include timely communications, detailed instructions, and any necessary resources to help you deliver accurate information and ensure a smooth transition for your clients. Until any changes are announced, you should continue with your current procedures and maintain existing arrangements.
At this time, there are no immediate changes to the organizational structure for brokers, and existing procedures and relationships should continue as usual. If any updates to the organizational structure are planned in the future, the combined organization will provide advance notice along with training and resources to support brokers through the transition. This will include clear communication, guidance, and any necessary materials to ensure you can adapt smoothly and continue delivering excellent service to your clients.
Contact ProAssurance Specialty at AskMarketing@proassurance.com or TDC Specialty Business Development at businessdevelopment@tdcspecialty.com.
Life Sciences FAQs
TDC Specialty, the marketing name for TDC Specialty Underwriters, Inc.; TDC Specialty Insurance Company; TDC National Assurance Company; Healthcare Risk Advisors, Inc.; and Hospitals Insurance Company, Inc., is focused on providing specialty insurance capabilities and related services to the rapidly evolving healthcare industry. TDC Specialty's experienced experts design liability solutions for a variety of healthcare organizations and professionals, including hospitals, physicians, physician groups, medical and long-term care facilities, managed care organizations, and life sciences organizations. TDC Specialty has deep experience in life sciences, having begun underwriting operations in this specialty segment at its inception in 2016.
The Doctors Company is committed to maintaining its leadership in protecting and advancing the practice of good medicine for healthcare professionals and organizations of all types and sizes. ProAssurance has shared a similar mission in serving its leading institutions and practitioners with excellence. Both companies have operated in a healthcare sector where consolidation is rife at every level and across every discipline. As the sector continues to evolve, fully servicing the demands and requirements of these new, more powerful entities will take medical professional liability and specialty insurers of similar stature, profile, and influence. By joining forces, our companies can harness the extraordinary talent, experience, and specialized expertise now on hand to deliver solutions at the scale required by these new healthcare organizations and healthcare delivery models.
This combination also creates a larger and stronger life sciences platform. By pairing Medmarc’s longstanding specialization in life sciences with TDC Specialty’s life sciences experience and enterprise scale, customers will benefit from deeper industry and technical expertise, expanded resources, and a coordinated approach to meeting the complex needs of this highly technical and rapidly evolving market segment.
We do not anticipate any changes to risks written on Medmarc or ProAssurance paper. Your current arrangements will remain in place, ensuring continuity during the transition.
There are no changes to the current Medmarc or TDC Specialty new business processes. You can send your submissions to either Medmarc or TDC Specialty as you have done in the past. The companies will coordinate and will not issue life sciences quotations for the same submission.
All renewals of policies written through Medmarc should be treated as business as usual and follow the existing Medmarc renewal process.
All renewals of policies written through TDC Specialty Underwriters should be treated as business as usual and follow the existing TDC Specialty Underwriters renewal process.
Our intent is for current product offerings to remain as they are today, with the same underwriting considerations as there are today. As we integrate the companies, we will keep you notified of any material coverage or appetite changes.
After Day 1 of the acquisition, existing Medmarc brokers will continue to have the same main point of contact within the combined organization as they currently do. There will be no immediate changes to established contacts, and brokers should maintain their existing relationships and follow their current procedures with both Medmarc and TDC Specialty. If any updates to points of contact are planned in the future, brokers will be notified in advance to ensure a smooth transition and ongoing support.
After the acquisition, Medmarc employees—including those who support brokers—will continue in their current roles and responsibilities for the immediate future. There will be no immediate changes to employee assignments, reporting structures, or day-to-day operations. Integration plans, if any, will be communicated in advance to ensure a smooth transition and ongoing support. Employees are encouraged to maintain their current procedures and relationships, and any future updates to organizational structure or roles will be shared ahead of time to help employees adapt and continue delivering seamless service.
No, there are no immediate actions required for brokers to ensure seamless service to clients during the transition. Brokers should continue to follow their current procedures and maintain existing arrangements, as there will be no immediate changes to processes, products, points of contact, or employee roles. Brokers will be notified in advance of any necessary updates or changes to ensure a smooth transition and ongoing support.
There will be no immediate updates to the technology platforms, portals, or processes you use to manage client accounts. You should continue utilizing your current systems and procedures, as all existing arrangements remain in place to ensure continuity and a smooth transition. If any changes or enhancements to technology or processes are planned in the future, you will be notified in advance so you can prepare and adapt accordingly.
The combined organization is committed to ensuring brokers are fully informed and supported when communicating any changes to clients. If there are updates to products, coverage options, technology platforms, points of contact, or organizational structure in the future, brokers will receive advance notice and clear guidance. This will include timely communications, detailed instructions, and any necessary resources to help you deliver accurate information and ensure a smooth transition for your clients. Until any changes are announced, you should continue with your current procedures and maintain existing arrangements.
At this time, there are no immediate changes to the organizational structure for brokers, and existing procedures and relationships should continue as usual. If any updates to the organizational structure are planned in the future, the combined organization will provide advance notice along with training and resources to support brokers through the transition. This will include clear communication, guidance, and any necessary materials to ensure you can adapt smoothly and continue delivering excellent service to your clients.
Contact Medmarc Business Development at johnajello@medmarc.com or TDC Specialty Business Development at businessdevelopment@tdcspecialty.com.
Workers’ Compensation FAQs
Founded in 1976, The Doctors Company is the nation’s largest physician-owned medical malpractice insurer, relentlessly committed to its mission of advancing, protecting, and rewarding the practice of good medicine. Prior to the acquisition, The Doctors Company had $8.4 billion in assets and $3.4 billion in member surplus. Post-acquisition, the company has $12 billion in assets. The Doctors Company is rated A by AM Best and Fitch Ratings.
The Doctors Company provides expert guidance, resources, and innovative coverage solutions for over 200,000 healthcare professionals nationwide. The Doctors Company rewards members with the Tribute® Plan, an unrivaled career benefit that recognizes members for their loyalty and commitment to the practice of good medicine. With risk management experts available 24/7 and aggressive defense in the courtroom, The Doctors Company leads the industry in how it supports the profession and partners with those who provide care.
The Doctors Company is committed to maintaining its leadership in protecting and advancing the practice of good medicine for healthcare professionals and organizations of all types and sizes. ProAssurance has shared a similar mission in serving its leading institutions and practitioners with excellence. Both companies have operated in a healthcare sector where consolidation is rife at every level and across every discipline. As the sector continues to evolve, fully servicing the demands and requirements of these new, more powerful entities will take medical professional liability and specialty insurers of similar stature, profile, and influence. By joining forces, our companies can harness the extraordinary talent, experience, and specialized expertise now on hand to deliver solutions at the scale required by these new healthcare organizations and healthcare delivery models.
After Day 1 of the acquisition, agents and brokers will experience no change in their relationship with Eastern Alliance. There will be no immediate changes to commission structures, compensation, or the processes for policy renewals and new business submissions. Agents and brokers should continue following their current procedures and maintain their existing arrangements with the company. Although not anticipated, any future updates or changes will be communicated in advance to ensure a smooth transition and ongoing support.
No, there will not be any change to the commission structure or compensation for agents and brokers. Your current arrangements will remain in place.
There will be no changes to the process for policy renewals and new business submissions. You should continue to follow your current procedures, and all existing arrangements will remain in place. If any updates or changes are planned in the future, you will be notified in advance.
No, there will not be any changes to the products, coverage options, underwriting appetite, or geographic footprint offered to your clients now that the transaction has closed. All current offerings will remain the same, and you should continue with your existing arrangements. If there are any updates or changes in the future, you will be notified in advance to ensure a smooth transition.
After Day 1 of the acquisition, agents and brokers will continue to have the same main point of contact within the organization as they currently do. There will be no immediate changes to established contacts, and agents should maintain their existing relationships and follow their current procedures. If any updates to points of contact are planned in the future, agents will be notified in advance to ensure a smooth transition and ongoing support.
The following FAQs cover certain questions ProAssurance Group insureds may have regarding their policies after the acquisition. If you have additional questions, please contact ProAssurance at (800) 282-6242.
Founded in 1976, The Doctors Company is the nation’s largest physician-owned medical malpractice insurer, relentlessly committed to its mission of advancing, protecting, and rewarding the practice of good medicine. Prior to the acquisition, The Doctors Company had $8.4 billion in assets and $3.4 billion in member surplus. Post-acquisition, the company has $12 billion in assets. The Doctors Company is rated A by AM Best and Fitch Ratings.
The Doctors Company provides expert guidance, resources, and innovative coverage solutions for over 200,000 healthcare professionals nationwide. The Doctors Company rewards members with the Tribute® Plan, an unrivaled career benefit that recognizes members for their loyalty and their commitment to the practice of good medicine. With risk management experts available 24/7 and aggressive protection in the courtroom, The Doctors Company leads the industry in how it supports the profession and partners with those who provide care.
The Doctors Company is committed to maintaining its leadership in protecting and advancing the practice of good medicine for healthcare professionals and organizations of all types and sizes. ProAssurance has shared a similar mission in serving its leading institutions and practitioners with excellence. Both companies have operated in a healthcare sector where consolidation is rife at every level and across every discipline. As the sector continues to evolve, fully servicing the demands and requirements of these new, more powerful entities will take medical professional liability and specialty insurers of similar stature, profile, and influence. By joining forces, our companies can harness the extraordinary talent, experience, and specialized expertise now on hand to deliver solutions at the scale required by these new healthcare organizations and healthcare delivery models.
ProAssurance Group insureds will continue to receive the same high-quality, personal service they have been accustomed to at ProAssurance.
No, that is absolutely not our intention. Rate stability for our membership is our goal, and we have delivered on that objective in our previous acquisitions. Indeed, in states where ProAssurance Group companies are the market leader and command lower rates than The Doctors Company, we will be working to adopt those lower rates where possible.
Your existing ProAssurance Group company policy is fully valid and will remain in place until the time comes to renew, when you will most likely be offered the opportunity to renew with The Doctors Company. Should your renewal date be soon after the acquisition has closed, however, you may be renewed on a ProAssurance Group company policy for practical reasons.
Immediately after the transaction closes, you will still have available to you the full suite of ProAssurance Group services. Over time, we may work to combine these with the outstanding, industry-leading services currently offered by The Doctors Company, including relentless defense, innovative patient safety and risk management resources, and regional and national advocacy on behalf of the entire medical profession. The goal is to present the best of both companies’ capabilities to all insureds.
This transaction will not have any effect on your current policy’s coverage or premium. Furthermore, now that the acquisition has closed, we do not anticipate any significant changes to policy terms, limits, or other coverage features due specifically to the transaction.
No. If you use an agent or a broker, that relationship remains in place. The Doctors Company will communicate directly with the agent/broker community regarding any changes to processes moving forward. Those changes should have little to no impact upon yourself, but your agent or broker can inform you of them as and when relevant.
ProAssurance Group’s risk management programs and services will continue as provided prior to the closure date of the acquisition. Over time, we anticipate that additional programs and services will be offered as a result of the combination of the two organizations.
Created in 2007, the Tribute Plan is an unrivaled financial benefit that rewards you and your peers for your loyalty and dedication to superior patient care. The Doctors Company has now distributed more than $200 million in Tribute Plan awards to more than 15,000 members, an industry-leading milestone. While other insurers have attempted to follow that lead, The Doctors Company is by far the only medical liability insurer that celebrates the careers of medical professionals with rewards of this magnitude. Unlike many liability insurers that have paused or ended similar programs, The Doctors Company has continually funded the Tribute Plan every year since its launch, and that funding comes from the capital of the company, not from premiums.
Post-close, if you transition to a policy issued by The Doctors Company or start or renew on a ProAssurance policy,* The Doctors Company will start to accrue a Tribute balance for you. This initial balance will be based on your annual premium amount multiplied by the Tribute funding rate current at the time. The 5 years of continuous coverage required for Tribute eligibility will commence on the date you transition to a policy issued by The Doctors Company or the post-close date on which you renew on a ProAssurance policy, whichever is earlier.
To receive any Tribute award distribution, you must be insured by The Doctors Company. To qualify for a retirement distribution, you must be 55 years of age or older with 5 continuous years of coverage from The Doctors Company (including any post-close start or renewal of a ProAssurance policy) and permanently retire from the practice of medicine. See full terms and conditions.
*The phrase “a ProAssurance policy” includes reference to any medical professional liability policy issued by a subsidiary or affiliate of ProAssurance Corporation in force immediately prior to transitioning to a medical professional liability policy issued by The Doctors Company, an Interinsurance Exchange.
No, you would not need to buy Extended Reporting Period, or tail, coverage. Your renewal with The Doctors Company would include your retroactive date, which allows you to report claims that come in related to services provided back to that date.
Yes. However, coverage remains subject to normal underwriting criteria.
No. Both ProAssurance Group and The Doctors Company will continue to aggressively defend claims without merit and fairly and efficiently resolve claims with merit.
The Doctors Company has over 30 endorsed programs with regional and national societies, including some of the nation’s most prestigious medical organizations, such as:
Through the purchase of ProAssurance, The Doctors Company expands its presence across the country, building the stature and influence needed to support today’s major healthcare institutions. The Doctors Company also gains the expertise of ProAssurance employees who have specialized, in-depth knowledge of healthcare across all major fields.
Now that the acquisition has closed, an evaluation process will commence to ascertain whether keeping existing ProAssurance subsidiaries as they are strengthens the combined enterprise, or whether that would be best achieved by rolling any or all up into existing The Doctors Company entities. The process will also start to transfer employees of ProAssurance to either The Doctors Company, TDC Specialty Underwriters, Healthcare Risk Advisors, or The Doctors Company Insurance Services, dependent upon their areas of expertise.
No. The Doctors Company and ProAssurance Group share many of the same values: strong claims defense, proactive and innovative patient safety and risk management resources, and a commitment to outstanding service. Combining our organizations will give us even greater capabilities to build on these values.
No. You will automatically receive notification of your renewal process, either from your agent/broker or directly from your ProAssurance Group company or from The Doctors Company. Your existing policy remains in place, and we remain ready to defend your reputation and career against frivolous actions.
The Doctors Company has completed its previously announced acquisition of ProAssurance Corporation, which traded on the New York Stock Exchange under the symbol PRA.
When the transaction closed, each share of ProAssurance common stock was canceled and converted into the right to receive $25 per share in cash. Former holders of ProAssurance common stock (Shareholders) will receive payment based on how the shares were held:
Questions about payment status for shares held directly in book entry should be made to ComputerShare:
Questions about payment status for shares held in a broker account must be directed to your broker.
Questions About ProAssurance Shares
Payments will be processed in accordance with ComputerShare’s (and, if applicable, your broker’s) usual practice for shares held in book entry or in a broker account. You should receive payment in the days following the completion of the transaction. You cannot receive payment for shares held in certificate form until you have received correspondence from ComputerShare and submitted the stock certificates and required transmittal materials, per their instructions. If you have any questions, including about the status of your payment, please contact ComputerShare using the contact information provided above. However, for any questions about payments for shares held in a broker account, please contact your broker.
If your shares were held directly through book entry at ComputerShare, please contact ComputerShare if you have not received payment in a timely fashion. For questions about payments for shares held in a broker account, please contact the broker.
If you do not know whether your shares are represented by paper stock certificates, you can contact ComputerShare directly to determine if you need to locate paper stock certificates. No shares held in broker accounts are represented by paper stock certificates.
ComputerShare will provide guidance on completing the replacement process if you cannot find the original stock certificates. Be aware that requests to replace lost securities require a surety bond. The surety bond is insurance against potential financial losses that may arise from a lost or stolen certificate.
Unclaimed Property laws mandate that financial institutions and businesses must turn over Shareholder assets to their jurisdiction when Shareholder-initiated activity has lapsed after a specified period of time that varies by state. This process is referred to as “escheatment.”
Computershare and The Doctors Company must follow these state laws. Amounts due for shares represented by paper stock certificates that are not submitted to ComputerShare for payment will ultimately be escheated to unclaimed property in the state of the last address on record for the Shareholder, in accordance with applicable law. Similarly, amounts represented by uncashed checks will also be escheated. ComputerShare will strive to ensure Shareholders receive the amounts they are owed before the required date for escheatment in each state.
Please note that, under the terms of the merger agreement between ProAssurance and The Doctors Company, after one year from date of completion of the transaction, The Doctors Company has the right to request that transaction consideration not claimed by any Shareholder be returned to The Doctors Company, and any such non-claiming Shareholders must look to The Doctors Company for payment of the transaction consideration.
Computershare is the transfer agent that administered ProAssurance’s common stock accounts before the completion of the transaction. ComputerShare is also serving as the post-completion paying agent for the transaction, responsible for paying the transaction consideration to Shareholders, in accordance with the merger agreement and applicable law. You can learn more about the company at computershare.com.
Until the completion of The Doctors Company’s acquisition of ProAssurance, ProAssurance’s common stock was listed and traded on the New York Stock Exchange, and ProAssurance shares could be purchased on the open market.
However, many of ProAssurance’s registered Shareholders received their shares in connection with the demutualization of Mutual Assurance in 1995—which was then renamed MAIC Holdings and later Medical Assurance—or as part of the combination of Medical Assurance with Professionals Group in 2001, when ProAssurance Corporation was formed.
Other holders may have received ProAssurance shares in connection with three acquisitions made by ProAssurance: Missouri Medical Insurance Company in 1998, NCRIC Group in 2005, and Physicians Insurance Company of Wisconsin in 2006.
Further, ProAssurance has awarded shares to employees, board members, and others associated with the company under different plans over the years. It also offered a direct share purchase plan to those individuals, with matching of share purchases under some circumstances.
You should consult your tax advisor regarding your personal tax situation.
Heather J. Wietzel, SVP, Investor Relations
InvestorRelations@ProAssurance.com
(800) 282-6242 • (205) 776-3028
In May 2021, the demutualization of NORCAL Mutual Insurance Company and subsequent acquisition of NORCAL Insurance Company by ProAssurance Corporation (together, the “NORCAL Transaction”) were completed (read the full press release). In connection with the completion of the NORCAL Transaction, Contribution Certificates were issued to certain eligible policyholders. These Contribution Certificates are long-term interest-bearing securities that will mature 10 years from the date of closing of the NORCAL Transaction.
The Doctors Company’s acquisition of ProAssurance on June 26, 2026, had no effect on the Contribution Certificates in any way. The principal value of the Contribution Certificates will continue to be payable by NORCAL Insurance Company on the maturity date in 2031, and interest will continue to be payable each April until then.
The Doctors Company will continue to use Computershare Investor Services LLC to manage the Contribution Certificate records and related payments. You can reach out to Computershare directly to update your address or receive duplicate 1099s. See below for additional information about contacting Computershare.
If you are an eligible NORCAL Mutual policyholder who elected a form of payment other than a Contribution Certificate—Choice 1 (a check for the sale of Conversion Stock to PRA Professional), Choice 2 (receive and hold Conversion Stock; check distributed after stock split), or Choice 4 (a check for conversion cash payment)—please see below if you never received your check or have questions about Choices 1, 2, or 4. Details about these options can be found in the Member Information Statement.
The transaction with The Doctors Company does not affect the Contribution Certificates in any way. The principal value of the Contribution Certificates will continue to be payable by NORCAL Insurance Company on the maturity date in 2031, and interest will continue to be payable each April until then.
There is no option for an individual Contribution Certificate holder to initiate early payment of the principal amount. Early payment may be initiated only by NORCAL, must be distributed to all Contribution Certificate holders at the same time (i.e., not to individual Contribution Certificate holders upon request), and may be paid only if certain conditions are met, including the approval of the California Department of Insurance. At this time, there are no plans to initiate early payment of all Contribution Certificates.
A Contribution Certificate holder may, in certain circumstances, transfer the Contribution Certificate to another party. A Contribution Certificate Holder also may designate a beneficiary for the Contribution Certificate, provided that the holder is an individual.
Contribution Certificates were issued to eligible policyholders that (a) selected Choice 3 or (b) for whom an election choice was not received by Computershare by April 27, 2021. The California law governing demutualization of an insurance company requires that if a policyholder’s consideration election is not received by the established deadline, the default consideration for that policyholder must be a Contribution Certificate. As this is required by law, neither NORCAL nor ProAssurance nor The Doctors Company has the power to change this option.
Individuals have the option of immediately transferring their Contribution Certificate to a third party (subject to certain limitations) or transferring their Contribution Certificate to a beneficiary on death. Entities may immediately transfer their Contribution Certificate to a third party (subject to certain limitations). The forms required can be found on Computershare’s website:
Please return your Contribution Certificate to Computershare along with the completed form.
For assistance with the transfer of your Contribution Certificate, please contact Computershare by telephone at (866) 508-8333 or by email at Web.Queries@Computershare.com. Note that you will need to verify your identity in order to initiate the Contribution Certificate transfer process.
Please first check your records, as the Contribution Certificate does not resemble a traditional certificate. Look for correspondence from ProAssurance that includes a cover letter containing a ProAssurance logo and a nine-page document that resembles a contract. If you are unable to find this correspondence and would like a replacement copy sent to your address on file or mailed to a different address, please follow these steps:
Upon identity verification, the request may be made over the phone by calling Computershare’s Call Center at (866) 508-8333. Subsequent to the call, Computershare will send you an Affidavit of Loss.
Or, the request may be made in writing by the policyholder. The written request must be accompanied by an Affidavit of Loss, which may be obtained by calling Computershare’s Call Center at (866) 508-8333.
Regular mail (USPS):
Computershare
P.O. Box 43006
Providence, RI 02949-3006
Courier delivery (UPS, FedEx):
Computershare
150 Royall St., Suite 101
Canton, MA 02021
Once received, the Affidavit must be completed and returned to finalize the request. Please note, the Affidavit of Loss paperwork will include information about paying a 3.0 percent bond premium and $80 fee that is required to replace a lost Contribution Certificate. As the Contribution Certificate is a security and issuing it is subject to certain laws and insurance requirements, the bond premium and fee are required for replacements.
Note that if an office or practice manager calls on behalf of the policyholder, the policyholder will need to be on the line to complete the identity verification process and give Computershare permission to speak to that third party.
The request must be made in writing by an authorized party and include either of the following to certify that the requesting person is authorized to act on behalf of the policyholder: (a) an original Corporate Resolution with raised seal that is dated within the past 180 days and certified by someone other than the requesting person, or (b) a medallion signature guarantee.
Regular mail (USPS):
Computershare
P.O. Box 43006
Providence, RI 02949-3006
Courier delivery (UPS, FedEx):
Computershare
150 Royall St., Suite 101
Canton, MA 02021
The written request must be accompanied by an Affidavit of Loss, which may be obtained by calling Computershare’s Call Center at (866) 508-8333. The Affidavit must be completed and returned to finalize the request. Please note, the Affidavit of Loss paperwork will include information about paying a 3.0 percent bond premium and $80 fee that is required to replace a lost Contribution Certificate. As the Contribution Certificate is a security and issuing it is subject to certain laws and insurance requirements, the bond premium and fee are required for replacements.
*The Name on the Account is the name (a) of the Named Insured, exactly as it was listed on the declarations page of the NORCAL Insurance Company policy you had in May 2021 or (b) exactly as it is listed on record with Computershare if you have submitted a name change request directly to Computershare.
A medallion signature guarantee is a special certification stamp that guarantees a signature that authorizes any action—such as a check or Contribution Certificate reissue or change of address request—on a Computershare account is authentic. A medallion signature guarantee is required for service requests on any accounts in which (a) the Named Insured (name on the policy declarations page) is an entity or (b) a third-party (anyone other than the policyholder or policy owner) is requesting a change. You can typically obtain a medallion signature guarantee at the financial institution where you are already a customer. Another source for a medallion signature guarantee is eSignature Guarantee (eSignatureGuarantee.com).
In lieu of a medallion signature guarantee, Computershare will accept a written request to re-send a corporate policyholder’s consideration if it is signed by an authorized individual of the corporation and accompanied by an original Corporate Resolution with a raised seal that is dated within the prior 180 days and states the requesting person is authorized to act on behalf of the policyholder. Note that the Corporate Resolution may not be certified by the requesting person. Also, note this exception does not apply to policyholders requesting to transfer their consideration. Any policyholder requesting a transfer will be required to attach a medallion signature guarantee.
Interest payments for a given year will continue to be made on April 15 of that year, if approved by the California Department of Insurance for that year. 1099-INT tax forms for such interest payments will be distributed the following year, in late January or early February. If you have misplaced or have not received your 1099-INT and would like a replacement copy, please call Computershare's Call Center at (866) 508-8333. Note that you will need to verify your identity in order to initiate the replacement process.
Computershare has an established identity verification system to protect your personal information and your account. Accordingly, you will be required to verify your identity when calling Computershare for assistance with your account. Before you call Computershare, please ensure you have the following information ready and accessible, as Computershare will not be able to assist you without it. As a reminder, if an office or practice manager calls on behalf of an individual policyholder, the policyholder will need to be on the line to complete the identity verification process and give Computershare permission to speak to that third party. Here is what you need to provide/validate:
*The Name on the Account is the name (a) of the Named Insured, exactly as it was listed on the declarations page of the NORCAL Insurance Company policy you had in May 2021 or (b) exactly as it is listed on record with Computershare if you have submitted a name change request directly to Computershare.
This information cannot be obtained from Computershare because it is a key identity verification point needed by Computershare to ensure only authorized individuals have access to your account. Policyholder Account Numbers were included on the cover letter and consideration election form that were mailed to you by Computershare in early March 2021. If you don’t have your Account Number, please call our Customer Experience & Engagement Department at (844) 466-7225, option 3 (Billing). You must be an authorized party on the account to obtain this information.
All written requests can be sent directly to Computershare at one of the following addresses (updated 9/16/2022):
Regular mail (USPS):
Computershare
P.O. Box 43006
Providence, RI 02949-3006
Courier delivery (UPS, FedEx):
Computershare
150 Royall St., Suite 101
Canton, MA 02021
We recommend that all written requests—especially if including original or medallion stamped documents—are sent via traceable mail (USPS registered mail, FedEx, or UPS).
If you would like to change the address you have on file with Computershare, please follow these steps:
Upon identity verification, the request may be made over the phone by calling Computershare Shareholder Services at (866) 508-8333. Or, the request may be made in writing by the policyholder. Note that if an office or practice manager calls on behalf of the policyholder, the policyholder will need to be on the line to complete the identity verification process and give Computershare permission to speak to that third party.
The request must be made in writing by an authorized party and include either of the following to certify that the requesting person is authorized to act on behalf of the policyholder: (a) an original Corporate Resolution with raised seal that is dated within the past 180 days and certified by someone other than the requesting person or (b) a medallion signature guarantee.
*The Name on the Account is the name (a) of the Named Insured, exactly as it was listed on the declarations page of the NORCAL Insurance Company policy you had in May 2021 or (b) exactly as it is listed on record with Computershare if you have submitted a name change request directly to Computershare.
While there is no obligation to do so, you have the option to register your Contribution Certificate at Computershare.com/Investor. Through the Computershare Investor Center, accounts for which the Name on the Account* is an individual can view account details, update account information, enroll in direct deposit, and opt‐in to receive electronic communications and SMS text messaging. Accounts for which the Name on the Account* is an entity have view-only access and cannot make account changes online.
*The Name on the Account is the name (a) of the Named Insured, exactly as it was listed on the declarations page of the NORCAL Insurance Company policy you had in May 2021 or (b) exactly as it is listed on record with Computershare if you have submitted a name change request directly to Computershare.
Pursuant to the terms of the Contribution Certificate, the principal value is due and payable on May 5, 2031; however, NORCAL reserves the right to prepay in whole or in part at any time with the approval of the California Department of Insurance. The Contribution Certificate will be paid provided the Principal Payment Conditions set forth in the Contribution Certificate are satisfied, including that NORCAL’s surplus post-payment is in an amount that satisfies the minimum surplus floor as set forth in the Contribution Certificate. Under certain conditions set forth in the Contribution Certificate, ProAssurance Corporation and PRA Professional Liability Group, Inc., have jointly and severally guaranteed payment of the interest and principal then due on the Contribution Certificate. NORCAL fully intends to make all interest payments when due and to pay the full-face amount of all certificates at or prior to maturity. However, as with any private debt instrument, there is risk of nonpayment.
NORCAL went to considerable lengths to make its policyholders aware of the transaction and the applicable deadlines. Between February 26, 2021, and March 3, 2021, transaction packets that included, among other documents, a Member Information Statement and the Amended and Restated Plan of Conversion were mailed to NORCAL policyholders. As required by NORCAL’s Bylaws, California law, and the Amended and Restated Plan of Conversion, transaction packets were mailed to the address NORCAL had on file for eligible policyholders at the time of mailing. Also, due to a change in the date of the Special Meeting of Members to approve the transaction, an additional information packet regarding the Special Meeting (which also included information about the transaction) was mailed on March 9, 2021. Additionally, NORCAL distributed 10 separate communications to policyholders regarding the transaction between February 2020 and May 2021. The transaction materials also were publicly available at Norcal-Group.com/pra, and there were references on NORCAL’s website since February 2020. This transaction documentation can now be found at ProAssurance.com/about-us/norcal-transaction.
If you have any additional questions, please call the Customer Experience & Engagement Department at (844) 466-7225, option 3 (Billing); send an email to Billing@ProAssurance.com; or write to NORCAL Insurance Company, PO Box 2080, Mechanicsburg, PA 17055.
Kelly Cinelli, AVP, Public Relations
kcinelli@thedoctors.com
(707) 226-0754 • (774) 218-6490