DC Approves ProAssurance Purchase of NCRIC

NCRIC Group Inc. (NASDAQ:NCRI) and ProAssurance Corp. (NYSE:PRA) announced this week that the District of Columbia Department of Insurance, Securities and Banking ("DISB") has approved the proposed acquisition of NCRIC, Inc., the insurance subsidiary of NCRIC Group, as part of ProAssurance's proposed acquisition of NCRIC Group. This acquisition is taking place pursuant to a merger agreement dated Feb. 28. NCRIC Group has scheduled a special meeting of shareholders to be held on Aug. 2 for the purpose of approving the merger agreement. The transaction is expected to close subsequent to...