2026 ALAS AGM Highlights

On June 25 and 26, we held our Annual General Meeting (AGM) at the Fairmont Banff Springs in Banff, Alberta, Canada. The business meeting featured presentations by the outgoing Chair of the ALAS Board of Directors, Todd Ruskamp of Shook, Hardy & Bacon; the incoming Chair Lori McAllister of Dykema; ALAS President and CEO Dan Donnelly; and ALAS CFO Akhil Wagh. The presentations underscored our excellent recent results and the continued strength of our mutual organization. Highlights include: 

• We currently insure 223 member law firms with over 84,000 lawyers, the latter of which is a record-high for ALAS. Since the 2025 AGM, we have added five new member firms: Anderson Kill, Eimer Stahl, Fish & Richardson, Hecker Fink, and Sherin and Lodgen. Our membership includes 94 firms in the Am Law 200 and many of the country’s finest regional and boutique firms. No other insurer of law firms can match the quality, strength, and diversity of the ALAS membership.
• The last decade has seen unparalleled rate stability in our main lawyers’ professional liability (LPL) program – a track record markedly different than the upward pricing trend in the commercial market. Indeed, by keeping LPL rates unchanged in 2026, we have either decreased rates or held them steady in nine of the last 10 years. Over that period, our LPL rates declined by 13%.
• Our capital position remains very strong. With favorable underwriting and investment results in 2025 and the first half of 2026, our net worth stands at over $1.35 billion, an all-time high. On May 11, 2026, Fitch reaffirmed our financial strength rating of “A” (Strong) with a Stable Outlook. In doing so, Fitch noted ALAS’s “superior business retention derived through its service orientation toward member firms in loss prevention and claims management.” In addition, Fitch cited ALAS’s “very strong capitalization as a key rating strength” and stated that “[t]he company remains a leader in lawyers’ professional liability (LPL) coverage for large law firms, supported by an engaged and long-standing membership base.”
• Our capital strength and strategic use of reinsurance allow us to provide LPL coverage under a single-carrier/single-layer structure with limits up to $100 million per claim – the highest LPL limits by a single carrier in the industry. Even at lower limit options, our structure is significantly more efficient and advantageous for insured firms than the multi-carrier/multi-layer structures in the commercial market. And our coverage for claims is ironclad. Indeed, we have never been subject to a bad faith claim by a member firm in our 47-year history and have not had a coverage dispute proceeding with a member firm in over 25 years. 
• Our program offering combined management and employment coverage to member firms continues to provide important protection. As of July 1, we insure 138 member firms with 70,000 lawyers, or over 80% of our LPL census, under this policy. Together, the LPL policy and management/employment policy provide a comprehensive package of liability coverage that addresses our members’ most significant exposures.  
• Our loss prevention services far surpass anything offered by commercial brokers or insurers. Our resources and programs help our members not only mitigate risk but improve the quality of their legal practices. We do that by addressing both long-standing loss prevention issues like conflicts and unworthy clients and more recent challenges, such as the rise of generative AI. Our conferences and events are also unmatched. In addition to the AGM, our national programs this year include our New General Counsel Conference, Managing Partner Program, Leadership Development Workshops, and inaugural Managing Talent, Culture, and Risk Conference. 
• Our broad coverage and collaborative approach to claims management provide great value to our members. That is particularly evident in the support we provide our members when they decide to take their most complex and challenging matters through trial or arbitration. Simply put, we are there when our members need us most. And in these matters, our results have been excellent. Since the beginning of 2022, our trial and arbitration record in LPL claims is 20–0. We also regularly support our firms and the profession more broadly by creating favorable law in the appellate courts and through amicus efforts.

If you would like to discuss how ALAS can benefit your firm with the most comprehensive insurance and risk management program for law firms today, please contact any of the following lawyers in our Member Services group.