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Share-Based Payments (Tables) | 12 Months Ended
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Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Summary of compensation expense and related tax benefit recognized during each period, and compensation cost expense in future periods | The following table provides a summary of compensation expense and the total related tax benefit recognized during each period as well as compensation cost that will be charged to expense in future periods, by award type.
|  | Share-Based Compensation Expense |  | Unrecognized Compensation Cost
|  | Year Ended December 31 |  | December 31, 2015
|  | 2015 |  | 2014 |  | 2013 |  | Amount |  | Remaining Recognition Period
|  | (In millions) |  | (In millions) |  | (Weighted average years)
Restricted Share Units |  | $ | 2.5 |  |  | $ | 1.7 |  |  | $ | 1.6 |  |  | $ | 3.2 |  |  | 1.8
Performance Share Units |  | 5.9 |  |  | 7.6 |  |  | 7.1 |  |  | 6.0 |  |  | 1.6
Purchase Match Units |  | 0.8 |  |  | 0.8 |  |  | 0.5 |  |  | 1.8 |  |  | 2.2
Total share-based compensation expense |  | $ | 9.2 |  |  | $ | 10.1 |  |  | $ | 9.2 |  |  | $ | 11.0 |  |  |
Tax benefit recognized |  | $ | 3.2 |  |  | $ | 3.5 |  |  | $ | 3.2 |  |  |  |  |
Summary of activity related to management share awards | Activity for restricted share units during 2015, 2014 and 2013 is summarized below. Grant date fair values are based on the market value of a ProAssurance common share on the date of grant less the estimated present value of dividends during the vesting period.
|  | 2015 |  | 2014 |  | 2013
|  | Units |  | Weighted Average Grant Date Fair Value |  | Units |  | Weighted Average Grant Date Fair Value |  | Units |  | Weighted Average Grant Date Fair Value
Beginning non-vested balance |  | 136,802 |  |  | $ | 45.02 |  |  | 138,770 |  |  | $ | 38.92 |  |  | 157,212 |  |  | $ | 31.94 |
Granted |  | 91,943 |  |  | 42.73 |  |  | 49,750 |  |  | 46.34 |  |  | 39,400 |  |  | 46.97 |
Forfeited |  | (1,342 | ) |  | 42.79 |  |  | (2,044 | ) |  | 44.88 |  |  | (603 | ) |  | 35.91 |
Vested and released |  | (48,935 | ) |  | 42.24 |  |  | (49,674 | ) |  | 29.22 |  |  | (57,239 | ) |  | 25.25 |
Ending non-vested balance |  | 178,468 |  |  | 44.64 |  |  | 136,802 |  |  | 45.02 |  |  | 138,770 |  |  | 38.92 |
Summarized activity for performance share awards | The table reflects the base number of units; actual awards that vest depend upon the extent to which performance objectives are achieved. Grant date fair values are based on the market value of a ProAssurance common share on the date of grant less the estimated present value of dividends during the vesting period.
|  | 2015 |  | 2014 |  | 2013
|  | Base Units |  | Weighted Average Grant Date Fair Value |  | Base Units |  | Weighted Average Grant Date Fair Value |  | Base Units |  | Weighted Average Grant Date Fair Value
Beginning non-vested balance |  | 466,860 |  |  | $ | 44.97 |  |  | 486,680 |  |  | $ | 39.86 |  |  | 552,417 |  |  | $ | 33.21 |
Granted |  | 106,490 |  |  | 42.73 |  |  | 160,900 |  |  | 46.34 |  |  | 145,580 |  |  | 46.97 |
Forfeited |  | (2,322 | ) |  | 46.42 |  |  | (14,221 | ) |  | 45.30 |  |  | (17,043 | ) |  | 38.90 |
Vested and released |  | (180,678 | ) |  | 42.44 |  |  | (166,499 | ) |  | 31.33 |  |  | (194,274 | ) |  | 26.39 |
Ending non-vested balance |  | 390,350 |  |  | 45.56 |  |  | 466,860 |  |  | 44.97 |  |  | 486,680 |  |  | 39.86 |
Market value of ProAssurance common share on the grant date fair value | Purchase match unit activity during 2015, 2014 and 2013 is summarized below. Grant date fair values are based on the market value of a ProAssurance common share on the date of grant less the estimated present value of dividends during the vesting period.
|  | 2015 |  | 2014 |  | 2013
|  | Units |  | Weighted Average Grant Date Fair Value |  | Units |  | Weighted Average Grant Date Fair Value |  | Units |  | Weighted Average Grant Date Fair Value
Beginning non-vested balance |  | 72,101 |  |  | $ | 43.69 |  |  | 63,125 |  |  | $ | 41.34 |  |  | 40,985 |  |  | $ | 39.85 |
Granted |  | 26,593 |  |  | 46.03 |  |  | 29,069 |  |  | 44.55 |  |  | 25,151 |  |  | 43.57 |
Forfeited |  | (3,087 | ) |  | 44.16 |  |  | (2,968 | ) |  | 43.14 |  |  | (2,456 | ) |  | 40.71 |
Vested and released |  | (21,124 | ) |  | 42.65 |  |  | (17,125 | ) |  | 36.61 |  |  | (555 | ) |  | 36.33 |
Ending non-vested balance |  | 74,483 |  |  | 44.80 |  |  | 72,101 |  |  | 43.69 |  |  | 63,125 |  |  | 41.34 |
Summary of fully-vested employee stock options outstanding | ProAssurance also had certain fully-vested employee stock options outstanding during 2015, 2014 and 2013, as summarized below.
|  | 2015 |  | 2014 |  | 2013
|  | Options |  | Weighted Average Exercise Price |  | Options |  | Weighted Average Exercise Price |  | Options |  | Weighted Average Exercise Price
Outstanding, vested and exercisable, beginning of year |  | 4,456 |  |  | $ | 24.64 |  |  | 18,082 |  |  | $ | 23.00 |  |  | 20,302 |  |  | $ | 23.15 |
Exercised |  | (2,342 | ) |  | 24.13 |  |  | (13,626 | ) |  | 22.47 |  |  | (2,220 | ) |  | 24.28 |
Outstanding, vested and exercisable, end of year |  | 2,114 |  |  | 25.02 |  |  | 4,456 |  |  | 24.64 |  |  | 18,082 |  |  | 23.00 |

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- Definition Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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