Alabama DOI to Hold Hearing on Merger of ProAssurance and Noetic
The Alabama Department of Insurance will hold a public hearing Dec. 6 on the proposed merger of Birmingham-based ProAssurance Specialty Insurance Co. and Noetic Specialty Insurance, a Vermont company.
The publicly traded ProAssurance, which also acquired the NorCal Group earlier this year, is now the third-largest writer of medical professional liability insurance in the country, the company said. It also provides workers’ compensation coverage, medical technology policies and alternative risk transfer products.
Noetic is a non-admitted property and casualty insurer approved to do business in 50 states. Through brokers, it provides liability coverage.
The hearing will begin at 10:30 a.m. at the Alabama DOI offices, 201 Monroe St., in Montgomery. Anyone wishing to participate through videoconference should submit an emailed request to Shawn.Stewart@insurance.alabama.gov, no later than 3 p.m. on Dec. 2, the department said in a bulletin.