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ProAssurance Completes NORCAL Acquisition

May 6th, 2021 | 1 min. read

By David Huss

ProAssurance has announced the transaction to merge NORCAL Group into the ProAssurance family of companies is now complete.  This after NORCAL Mutual Insurance Company concluded a successful demutualization process on 4/26/21.  Base consideration for the transaction was $450 million, with a contingent consideration of up to $150 million that is dependent on the actual performance of the acquired book of business.  We understand this transaction makes ProAssurance the third largest physicians med-mal writer in the U.S.

Follow this link for a complete copy of ProAssurance’s official press release.

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David Huss

David is Ethos’ Co-Founder and Chief Production Officer. He has decades of experience in the insurance industry during which he has played many roles, including that of a contract writer for a reinsurance brokerage firm, a management liability underwriter and, over the past 20 years, a wholesale broker focused exclusively on the healthcare professional liability (HPL) space. As a true HPL specialist David possesses a comprehensive understanding of professional liability exposures in the healthcare industry and is well-versed in the products and capabilities of Ethos’ numerous carrier partners. His role at Ethos includes supporting production support staff in their effort to efficiently solve HPL-related problems for retail customers, mentoring Ethos’ business development staff and working to develop and maintain relationships with carrier business development staff and underwriters. Personally, David enjoys building things, whether they be home projects or business ventures. He also enjoys sharing good food and good wine with friends and family. David looks forward to continuing to build Ethos and serving retail customers for years to come.