ProAssurance announces COO Ned Rand as next CEO alongside Stan Starnes stepping to Executive Chairman

– USA, AL –  ProAssurance Corporation (NYSE: PRA), announced today that the Board of Directors has elected Edward L. Rand, Jr., the Company’s President and Chief Operating Officer, to succeed W. Stancil Starnes as Chief Executive Officer effective July 1, 2019. On that date, Mr. Starnes will have completed his twelfth year as Chief Executive Officer and will transition solely into the role of Executive Chairman of the Board.

Today’s announcement marks the final step in an orderly, deliberate process initiated by Mr. Starnes and the Board over 18 months ago and will complete the transition to the next generation of experienced, successful leaders across the organization.

Mr. Starnes said, “Ned Rand stands out as one of the most talented business executives with whom I have ever worked. He has been instrumental in developing the strategic vision for ProAssurance. His grasp of our business, his engagement with our workforce and distribution partners, and his vision for the Company’s long-term success gives me great confidence in the future of ProAssurance. I look forward to working with him and the Board, and seeing the new heights to which ProAssurance will ascend.”

“I am honored to succeed Stan as CEO,” said Mr. Rand. He added, “With the strong foundation that has been built under Stan’s leadership, ProAssurance is extremely well positioned for success. I look forward to working with Stan and everyone at ProAssurance as we deliver on the promise of Treated Fairly and continue with the legacy that Stan has established.”

The Company also announced that Thomas A. S. Wilson, M.D. will continue to serve as the independent lead director for the Board, strengthening the Company’s dedication to sound governance.

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. The Company is recognized as one of the top performing insurance companies in America by virtue of our inclusion in the Ward’s 50 for twelve straight years. ProAssurance Group is rated “A+” by A.M. Best; ProAssurance and its operating subsidiaries are rated “A” by Fitch Ratings. ProAssurance’s YouTube channel regularly presents thought provoking, insightful videos that communicate effective practice management, patient safety, and risk management strategies.

For more information: https://www.proassurance.com

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