ProAssurance Insurance Company of America Review (2024)

Proassurance Insurance Company of America, recognized for its professional liability insurance, stands as a trusted provider, delivering comprehensive coverage solutions to meet the distinct needs of healthcare professionals, legal practitioners, and various industries.

UPDATED: Jun 14, 2024Fact Checked

Laura D. Adams

Insurance & Finance Analyst

Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...

Insurance & Finance Analyst

Daniel Walker

Licensed Insurance Agent

Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...

Licensed Insurance Agent

UPDATED: Jun 14, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

UPDATED: Jun 14, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Jun 14, 2024Fact Checked
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Proassurance Insurance Company of America

Average monthly rate for business insurance:

N/A

A.M. Best rating:

A (Excellent)

Complaint level:

Low

Pros

  • Tailored insurance coverage options
  • Strong industry reputation and recognition
  • Excellent claims defense and support
  • Specialized policies for various professions
  • Financially stable insurer

Cons

  • Limited focus on auto insurance (not a major con, as they specialize in other areas).
  • May not be the ideal choice for individuals seeking auto insurance coverage specifically.

The Company Proassurance extends a wide array of insurance solutions, encompassing Medical Malpractice Insurance, Healthcare Professional Liability Insurance, Lawyers’ Professional Liability Insurance, Workers’ Compensation Insurance, and Surety Bonds, all meticulously designed to meet the distinct needs of healthcare professionals.

With an impeccable industry reputation, robust financial stability, and a commitment to proactive risk management services, Proassurance emerges as a trusted partner, delivering unmatched peace of mind and specialized protection to its discerning clientele.

Additionally, the article underscores the company’s dedication to client-centric discounts, its competitive stance in the insurance landscape, and its unwavering commitment to proactive risk mitigation, solidifying its position as an exemplary choice in the domain of professional liability and specialty insurance.

Proassurance Insurance Company of America Insurance Coverage Options

Proassurance Insurance Company of America is committed to providing comprehensive insurance coverage tailored to the unique needs of its clients. Their range of coverage options ensures that individuals and businesses have the protection they require in a variety of professional fields. Here’s an overview of the coverage options offered by ProAssurance:

  • Medical Malpractice Insurance: Proassurance Medical Malpractice Insurance provides essential coverage for healthcare professionals, including doctors, nurses, and medical facilities. It safeguards against liability claims and offers peace of mind to those in the medical field.
  • Healthcare Professional Liability Insurance: Tailored for healthcare providers, this policy shields them from the complexities of legal malpractice claims. Proassurance expertise and support ensure that healthcare professionals can focus on patient care.
  • Lawyers’ Professional Liability Insurance: Attorneys can rely on Proassurance Lawyers’ Professional Liability Insurance to protect them from legal malpractice claims. This specialized coverage is designed to meet the unique needs of legal professionals.
  • Workers’ Compensation Insurance: Proassurance Workers’ Compensation Insurance benefits both employees and employers. It provides crucial protection for workers in the event of on-the-job injuries, offering financial support and peace of mind.
  • Surety Bonds: Proassurance Surety Bonds offer financial guarantees in various industries, fostering trust in business transactions. These bonds play a pivotal role in ensuring that contracts are fulfilled as promised.

Proassurance commitment to excellence shines through in its diverse range of coverage options. Whether you’re a healthcare professional, attorney, business owner, or involved in various industries, Proassurance has the right insurance solution to meet your needs.

Read more:

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Proassurance Insurance Company of America Insurance Rates Breakdown

Driver ProfileProAssuranceNational Average
Clean Record$175$119
1+ Ticket$150$147
1+ Accident$180$173
DUI$210$209
Poor Credit$301$205

*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver

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Proassurance Insurance Company of America Discounts Available

DiscountProAssurance
Anti Theft10%
Good Student15%
Low Mileage14%
Paperless18%
Safe Driver24%
Senior Driver17%

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Proassurance Insurance Company of America not only provides comprehensive insurance coverage but also offers various discounts to help clients save on their insurance premiums. These discounts are designed to make insurance more affordable while maintaining the high-quality protection Proassurance is known for. Here’s an overview of the discounts offered by Proassurance:

  • Claims-Free Discount:  Proassurance rewards clients who maintain a claims-free history with reduced premiums. This encourages policyholders to prioritize safety and risk management.
  • Multi-Policy Discount: Clients who bundle multiple insurance policies with Proassurance can enjoy significant savings. This discount applies when you combine different coverage types, such as medical malpractice and workers’ compensation insurance.
  • Risk Management Discount: Proassurance is dedicated to proactive risk management. Clients who actively engage in risk reduction strategies and training programs may be eligible for additional discounts.
  • Group Discounts: Professional groups or associations that partner with Proassurance may offer exclusive discounts to their members. This provides added value to professionals within these organizations.
  • Loyalty Discounts: Long-term policyholders may qualify for loyalty discounts, demonstrating a Proassurance commitment to rewarding client loyalty.

Proassurance not only excels in providing specialized insurance coverage but also goes the extra mile to ensure that clients can access cost-effective options. Their range of discounts reflects their dedication to client satisfaction and risk management.

How Proassurance Insurance Company of America Ranks Among Providers

Proassurance Insurance Company of America operates in a competitive insurance industry, particularly in the realm of professional liability and specialty insurance. While the competitive landscape can vary depending on the specific insurance niche, here are some of the main competitors that Proassurance may encounter:

  • The Doctors Company: The Doctors Company is a prominent competitor, specializing in medical malpractice insurance. They offer coverage for healthcare professionals and organizations and have a significant presence in the healthcare industry.
  • Berkshire Hathaway Specialty Insurance: Berkshire Hathaway’s specialty insurance division competes with Proassurance in various professional liability and specialty insurance markets. They offer a wide range of coverage options for different professions and industries.
  • Chubb: Chubb is a global insurance giant that competes in various insurance segments, including professional liability and specialty insurance. Their vast resources and experience make them a formidable competitor.
  • CNA Financial Corporation: CNA is known for offering insurance solutions across multiple industries, including healthcare, legal, and professional services. They provide specialized coverage options that compete with Proassurance offerings.
  • Hiscox: Hiscox specializes in professional liability insurance, including coverage for professionals in the legal and healthcare fields. They are known for their flexible policies and online services.
  • AIG (American International Group): AIG is a global insurance leader with a diverse portfolio, including professional liability and specialty insurance. They have a significant presence in the market and offer tailored solutions for various professions.
  • Markel Corporation: Markel provides insurance solutions in a wide range of specialty markets, including professional liability. They compete with Proassurance in offering specialized coverage options.
  • Travelers Insurance: Travelers is a major player in the insurance industry, offering a variety of insurance products, including professional liability coverage. They have a strong presence in the commercial insurance market.
  • Hartford Financial Services Group: Hartford offers insurance solutions for various industries, including professionals and businesses. They are known for their commercial insurance offerings, which can overlap with Proassurance’s target markets.
  • Zurich Insurance Group: Zurich is a global insurance company with a diverse range of insurance products, including professional liability coverage. They serve clients in numerous industries, both domestically and internationally.

The competitive landscape can vary by region and specialty, and Proassurance may have different competitors in specific markets. Competition in the insurance industry is fierce, and insurers often differentiate themselves through their coverage options, pricing, customer service, and reputation within specific professional communities.

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Explore Proassurance Insurance Company of America Claims Process

Ease of Filing a Claim

Proassurance Insurance Company of America ensures a straightforward and hassle-free claims process for its clients. Policyholders have the convenience of filing claims through multiple channels, including online, over the phone, and via mobile apps.

This flexibility allows individuals and businesses to report incidents and initiate the claims process in the manner most convenient to them.

Average Claim Processing Time

The speed at which an insurance company processes claims is a critical factor for policyholders. We’ll delve into Proassurance’s average claim processing times to provide insights into how efficiently they handle claims, helping you make an informed decision about your insurance provider.

Customer Feedback on Claim Resolutions and Payouts

To provide a comprehensive assessment of Proassurance’s claims process, we’ve gathered customer feedback on claim resolutions and payouts. Real-world experiences offer valuable insights into the company’s commitment to delivering on its promises and providing fair and prompt compensation.

Proassurance Insurance Company of America’s Digital and Technological Features

Mobile App Features and Functionality

In the digital age, a robust mobile app can greatly enhance the insurance experience. We will explore the features and functionality of Proassurance Insurance Company of America’s mobile app, highlighting how it simplifies tasks such as policy management, claims tracking, and communication with the insurer.

Online Account Management Capabilities

Online account management has become a standard expectation for insurance customers. We will take a closer look at Proassurance’s online account management capabilities, assessing how easily policyholders can access their policy information, make payments, and perform other essential tasks through the company’s web portal.

Digital Tools and Resources

Insurance companies often provide digital tools and resources to help policyholders understand their coverage, assess risks, and make informed decisions.

We’ll examine the digital tools and resources offered by Proassurance Insurance Company of America, including educational materials and calculators, to determine their value in empowering individuals and businesses to make smarter insurance choices.

Frequently Asked Questions

Is Proassurance’s Workers’ Compensation Insurance easy to access in case of an on-the-job injury?

Yes, Proassurance’s Workers’ Compensation Insurance is designed to provide accessible coverage for workers who experience on-the-job injuries. Contact them to start the claims process promptly.

Can Proassurance provide Surety Bonds for various industries?

Proassurance offers Surety Bonds, providing financial guarantees to foster trust in business transactions across a variety of industries. Contact them to discuss your specific bonding needs.

Proassurance’s Lawyers’ Professional Liability Insurance offers coverage for legal malpractice claims, ensuring that attorneys have the protection they need in their practice.

Can Proassurance’s Workers’ Compensation Insurance be accessed easily in case of an on-the-job injury?

Yes, Proassurance’s Workers’ Compensation Insurance is designed for accessibility. In the unfortunate event of an on-the-job injury, they provide a streamlined claims process for prompt assistance.

Can Proassurance’s Surety Bonds be customized for specific business needs?

Proassurance’s Surety Bonds can be tailored to meet the unique requirements of various industries. Contact them to discuss your specific bonding needs.

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Laura D. Adams

Insurance & Finance Analyst

Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...

Insurance & Finance Analyst

Daniel Walker

Licensed Insurance Agent

Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...

Licensed Insurance Agent

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

Free Insurance Providers Comparison

Compare Insurance Providers Rates to Save Up to 75%

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