Morris, Manning & Martin partner Ward Bondurant and of counsel Stacey Kalberman worked on a deal that will combine two companies that provide professional liability insurance to lawyers and to doctors.
In the deal, ProAssurance Corp. of Birmingham, Ala. agreed to acquire Georgia Lawyers Insurance Co. for undisclosed terms. ProAssurance sells medical-malpractice liability insurance to doctors, physician practice groups and hospitals. Georgia Lawyers Insurance, based in Fayetteville, insures about 2,700 lawyers in Georgia, according to the company.
Bondurant and Kalberman advised Georgia Lawyers Insurance and its majority shareholder, Lawyers Mutual Liability Insurance Co. of North Carolina, on the deal, according to Bondurant.
After negotiating the deal on behalf of Georgia Lawyers Insurance, Bondurant and Kalberman then advised ProAssurance on obtaining regulatory approval from the Georgia state Insurance Commissioner, according to ProAssurance general counsel Jeff Lisenby.
Lisenby and ProAssurance in-house compliance counsel Katie Neville handled the merger negotiations with Georgia Lawyers Insurance, Lisenby said.
In a separate transaction, Burr & Forman partners Jack Stephenson Jr. and Jennifer Moseley in Birmingham are advising ProAssurance on its proposed sponsored demutualization of the PICA Group of Brentwood, Tenn., which provides professional liability insurance to podiatrists.