ProAssurance provides two new administrators to board

ProAssurance Company has introduced that its shareholders elected Richard J Bielen, CPA (pictured above, left), and Staci M Pierce, JD (pictured above, proper), as new administrators at its annual assembly on Could 22.

Shareholders additionally re-elected administrators Bruce D Angiolillo, JD (chairman), and Samuel A Di Piazza, Jr, CPA, for three-year phrases expiring on the firm’s 2027 annual assembly. The board of administrators now consists of 10 members, down from the earlier 12.

Bielen is the president and chief government officer of Protecting Life Company and has over 35 years of expertise in varied government roles within the monetary providers trade.

Pierce, in the meantime, is the chief government officer at Motion Assets, a transportation and environmental providers firm primarily based in Birmingham, Alabama. She has greater than eight years of expertise in government and management roles within the transportation and environmental providers industries, together with 5 years of expertise as a training legal professional.

Along with the appointments, shareholders accredited the ProAssurance Company 2024 Fairness Incentive Plan and ratified the number of Ernst & Younger, LLP because the impartial auditing agency for the fiscal yr ending December 31, 2024.

Moreover, shareholders accredited, on an advisory foundation, the compensation of the named government officers. All proposals on the poll acquired a considerable supermajority of votes forged.

“ProAssurance seems to its board of administrators for a variety of viewpoints, backgrounds, and expertise, amongst different abilities,” president and chief government officer Ned Rand stated. “With the addition of Wealthy and Staci, our board is even higher positioned as a useful resource as we work to realize our aims in our core strains of insurance coverage – medical skilled legal responsibility and staff’ compensation.”

Elsewhere, the specialty insurer introduced that it took a hit in 2023, struggling a $38.6 million internet loss for the yr. Throughout the fourth quarter, the corporate posted a internet earnings price $6.4 million.

“We proceed to handle our enterprise with a give attention to returning to underwriting profitability. We’re drawing on our a long time of profitable underwriting, efficient claims administration, and superior service supply to counter the dual results of difficult market circumstances and worsening litigation traits,” Rand stated.

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