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Share-Based Payments (Tables)

12 Months Ended

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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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.

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Tabular disclosure of the changes in outstanding nonvested performance-based units.

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Tabular disclosure of employee stock purchase plan activity.

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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.

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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.

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