Highlights of Our 2025 Annual General Meeting

On June 12 and 13, we held our Annual General Meeting (AGM) at The Greenbrier in White Sulphur Springs, West Virginia. The business meeting featured presentations by the Chair of the ALAS Board of Directors, Todd Ruskamp of Shook, Hardy & Bacon; ALAS President and CEO Dan Donnelly; and ALAS CFO Akhil Wagh. The presentations underscored the excellent recent results and continued strength of our mutual organization. Highlights include:

• We continue to attract high-quality firms to our membership. Since the 2024AGM, we have added five new members to ALAS: BakerHostetler, CoblentzPatch Duffy & Bass, Gibbons, Harris Beach Murtha, and Sherin and Lodgen.
• Since the beginning of 2020, 33 firms with over 12,500 lawyers have joined us.Our membership includes 93 firms in the Am Law 200 and many of the country’s finest regional and boutique firms. No other insurer for law firms canmatch the quality, strength, and diversity of the ALAS membership.
• Rates on our main lawyers’ professional liability (LPL) program have been favorable and markedly different than rate trends in the commercial market. We kept our 2025 LPL rates unchanged from the prior year, meaning that overthe last 11 years, we either decreased rates or held them steady in 10 of thoseyears. Over that period, our LPL rates declined by nearly 20%.
• Our LPL claims results remain stable. In 2024, total loss emergence, whichmeasures net reserving activity, saw a slight improvement over the previoustwo years and was the lowest total in the last seven years. Claims frequencycontinued to be at historically low levels.
• The expertise and collaborative approach we bring to claims management is akey reason for our favorable claims results. That includes the high level of success we have when supporting our firms through trials and arbitrations. Since the beginning of 2022, our trial and arbitration record is 17–0, pushingour historical victory rate to over 72%. We also continue to shape the law governing lawyers with favorable outcomes in federal and state appellate courts and through amicus efforts.
• Our capital position remains very strong. With favorable underwriting and investment results in 2024 and the first half of 2025, net worth stands at over$1.2 billion, an all-time high. On May 1, 2025, Fitch reaffirmed our financial strength rating of “A” (Strong) with a Stable Outlook, citing our “very strongcapitalization” and “superior business retention derived through [our] serviceorientation to member firms in loss prevention and claims management.”
• Our capital strength and strategic use of reinsurance allow us to offer our members the highest LPL limits in the industry. As of July 1, we have a total of48 firms with over 35,500 lawyers, or approximately 43% of our total insuredcensus, purchasing our maximum limits of $100 million per claim/$200 millionin the aggregate. Our optional program offering combined management andemployment coverage also continues to provide important protection for ourmembers. As of July 1, we insure 137 member firms and over 66,500 lawyers,or nearly 80% of our census, under this policy.
• Our loss prevention services far surpass anything offered by commercial brokersor insurers. Our services and resources help our members mitigate risk and improve the quality of their legal practices and operations. In addition to the AGM,our national events this year include our Defense Counsel Symposium, ManagingPartner Program, Firm Administration Conference, and the Trusts and Estates Practice Group Conference. We continue to address both long-standing loss prevention concerns and emerging issues. As examples of the latter, this year wehave provided timely and practical guidance to our firms about the evolving impact of generative AI and the challenges arising from Executive Orders and other directives issued by the new administration.
• This year’s AGM arrived during a transition in leadership at ALAS, with Mark Gralen set to retire from the company on August 1, 2025. On that date, Joe Shereda will join the senior management team and succeed Mark as Senior VPand head of the ALAS Member Services Department, and Mindy Medley will succeed Mark as General Counsel. In their AGM speeches, Board Chair ToddRuskamp and CEO Dan Donnelly thanked Mark for his 32 years of distinguished service to ALAS and congratulated Joe and Mindy on their well-deserved promotions.

If you would like to discuss the benefits of the most comprehensive insurance and risk management program available to premier law firms today, please contact any of the following lawyers in our Member Services group.