ProAssurance Corporation, a specialty insurance company with experience in medical professional liability, products liability for medical technology and life sciences, and legal professional liability, has promoted a number of executives and realigned reporting assignments.
Howard H. Friedman now is the president of the health care professional liability group within ProAssurance. Chief financial officer Edward (Ned) L. Rand assumed additional duties as executive vice president, as did Jeffrey P. Lisenby, the company's general counsel.
The health care professional liability group will encompass all MPL-focused activities within ProAssurance, as well as the operations of all MPL subsidiaries, including PICA, led by its president Ross E. Taubman, and ProAssurance mid-continent underwriters. Mr. Friedman also will oversee the company's investment in its Lloyd's Syndicate.
ProAssurance's non-MPL subsidiaries and lines of business will report to Mr. Rand. This will include Eastern Insurance, led by its president, Michael L. Boguski, and Medmarc, led by its president, Mary Todd Peterson, who also will be responsible for the legal professional liability business. Mr. Rand will continue to oversee traditional accounting, finance, investment, and investor relations functions, and will be responsible for the organization's information systems and project management office.
Mr. Lisenby will continue in his role as general counsel for ProAssurance. The company's legal, compliance, and human resources departments will continue reporting to him and he also will be responsible for ProAssurance's various owned and leased facilities. As corporate secretary, Mr. Lisenby will continue to focus on corporate governance and will work closely with the board of directors.
Chairman and Chief Executive Officer W. Stancil Starnes said, “I believe these changes will enable us to operate with greater efficiency and respond more nimbly to the challenges we face in all product lines. We will benefit from strong management at the top of the organization and become more responsive to external opportunities that present themselves – opportunities to which I will be able to give greater attention, while still providing meaningful direction through Howard, Ned, and Jeff and continuing to interact regularly with our senior vice presidents and vice presidents.”
The ProAssurance board of directors approved the executive promotions, as recommended by the nominating and corporate governance committee. Other actions recommended by the committee and approved by the board included naming Kelly B. Brewer vice president and chief accounting officer; she will be responsible for all accounting activities within ProAssurance and its subsidiaries. Lawrence (Larry) K. Cochran was named vice president, chief investment officer, and head of treasury and will be responsible for all investing decisions and treasury activities within ProAssurance and its subsidiaries. Michael A. Stoeckert was named vice president and chief technology officer. Kathryn (Katie) A. Neville was named vice president and chief compliance officer. Richard (Rich) J. Enders was named vice president and chief of internal audit; he will continue reporting to Mr. Starnes and the board of directors.
Learn more: www.proassurance.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].