About the ALAS Companies

Introduction

In October 1979, 35 law firms pooled $1 million in capital to found Attorneys' Liability Assurance Society (Bermuda) Ltd. (ALAS Ltd.), a mutual insurance company located in Bermuda and owned entirely by its insured member firms. Its wholly owned subsidiary, Attorneys' Liability Assurance Society, Inc., A Risk Retention Group (ALAS, Inc.), domiciled in Vermont, with its principal office in Chicago, Illinois, was formed in 1987 to act as the primary insurance company, providing direct underwriting, policy issuance, member relations, claims management, and loss prevention services to the ALAS Ltd. membership.

Today, ALAS, Inc. insures 230 firms and approximately 58,900 lawyers headquartered in 45 states and the District of Columbia. As of November 30, 2011, ALAS Ltd. had total assets of over $2.2 billion, including an investment portfolio valued at over $1.7 billion. As of that date, members’ net worth was $738 million.

Service

The ALAS companies were founded to provide quality law firms with a stable source of insurance coverage and a level of service that they could not find in the commercial marketplace. ALAS, Inc.'s Claims, Loss Prevention, and Member Services departments are staffed by lawyers with significant experience in private practice. Moreover, our only business is providing insurance coverage for large law firms. Our decades of experience give us unique insight into the problems facing our insured firms. Whether those issues involve difficult claims, complex loss prevention questions, or the coverage needs of our firms as they confront new forms of exposure, we provide service to our insureds that is second to none.

Limits, Coverage, and Rates

ALAS, Inc. offers limits of up to $75 million per claim and $150 million in the aggregate, the highest limits available to law firms in one policy from any single insurer. In addition, our policy form is the most comprehensive available to law firms in the insurance industry, particularly in areas such as punitive damages. We provide our firms with stable pricing by setting rates based on projections of our actual loss costs. Rates are approved by the ALAS, Inc. Board of Directors, composed primarily of senior partners from our firms.

ALAS Ltd.'s operations are regularly reviewed by our rating agencies, Fitch and Standard & Poor's. Copies of the most current ratings reports are available elsewhere on this Web site.

Conclusion

Our firms justifiably expect ALAS, Inc. to be the leading provider of professional liability coverage for large law firms. We look forward to continuing to serve their needs and the profession generally in the years to come. If you are interested in an insurance program that emphasizes service and broad, stable coverage in a mutual setting, we encourage you to explore this site and to contact us with any questions or requests for additional information.