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Posts by ALPS Report

ALPS Receives Outlook Upgrade from A.M. Best, Welcomes New Board Directors

Missoula, Montana- On May 23, 2013, A.M. Best affirmed the financial strength rating of A- (Excellent) and revised the outlook to Stable of ALPS Property & Casualty Insurance Company (dba Attorneys Liability Protection Society, A Risk Retention Group). The A- (Excellent) with Stable more

25 years ago today, ALPS issued its first policy

It was 25 years ago today when Attorneys Liability Protection Society (you know us as ALPS) issued our first policy. Today, 25 years later, many of our original policyholders are still with us. A lot has changed since 1988, but ALPS has never wavered from our commitment to the legal community, more

Inside Underwriting: Big Picture Versus Broad Brush

  For those of you who remember the PBS show, “The Joy of Painting,” you probably remember host Bob Ross’ signature description of the “happy little trees” that make up his forested landscape paintings. This little nostalgic walk down memory lane actually relates to the art of underwriting at more

CLAIMS CORNER: When an Attorney Leaves During a Pending Malpractice Claim

A few issues arise when a malpractice claim is filed against an attorney working for the insured firm when that attorney leaves the firm while the claim is pending. In addition, the question frequently arises as to how the claim will affect the firm’s future risk rating. This article is intended more

CLAIMS CORNER: Do I need to report this situation to my carrier and what happens to my premium if I do?

Do I really need to report this situation to my carrier and what is going to happen to my premium if I do report it? Often, these are two of the very first questions asked by Insureds when they are faced with a situation. As is so often the case in a legal setting, the answer is, “It depends.” more

INSIDE UNDERWRITING: Taking a Fresh Look at the ALPS Application and Quote

Underwriting the unique risks associated with Lawyers' Professional Liability requires thorough and careful analysis. The information needed to accomplish this analysis is most efficiently obtained from a complete Lawyers' Professional Liability application. With the most accurate, thorough more

Reflections on the First Half of 2012

June 30th marked the end of the first half of 2012, an appropriate time for us to reflect on where ALPS stands now, how we got here, and why we are so confident about our future. With the addition of new President and Chief Operating Officer David Bell, ALPS significantly strengthened its more

CLAIMS CORNER: ALPS is now accepting e-mail notification of claims

ALPS is pleased to be able to provide another avenue for our policyholders to report claims or, just as important, facts and/or circumstances which may give rise to a potential claim. After taking as many reasonable precautions as possible to ensure a claim reported through email is not removed more


In simple terms, the basic purpose of underwriting is to evaluate risk, decide whether that risk will be accepted or not, and, if accepted, determine an appropriate premium to cover the risk.  To borrow from a previous ALPS Report, “[a] quote that has been floating around the world of more

CLAIMS CORNER: "I Knew I Shouldn't Have Taken That Case"

“I knew I shouldn’t have taken that case.” Unfortunately, this is the statement we hear all too often when an insured attorney reports a malpractice claim to ALPS. In light of that fact, this article will encourage you to listen to your own judgment when determining whether or not to take a case more


In a previous column, we described some of what an underwriter does as they try to find an appropriate match of risk and premium. Yes, there is a science to underwriting – The Law of Large Numbers, actuarial statistics, etc. But there’s also an art to it. We are not Robo Underwriters who simply more

2011 Economic Factors Affected Claims Across the Board

To describe the 2011 year from the claims perspective one would have to use words like challenging, exigent, disappointing, and painful. It was a year that saw attorneys around the country being challenged by clients and non-clients for the professional services they rendered. A sign of the times, more

A Year of Analysis: 2011 from the ALPS Underwriting Viewpoint

For the ALPS underwriters, 2011 proved to be a very interesting year. As in years past, we experienced new carriers entering some of the states where we do business, while other carriers left some of those same states due to adverse claims developments. Competition remained fierce throughout more

Empowering Estate Planning Attorneys to Best Serve Their Clients: ALPS First Lawyers Trust Company

Entering its third year as a member of the ALPS family of professional services, First Lawyers Trust Company has certainly witnessed a growing demand for the services that it provides as an independent corporate fiduciary. First Lawyers is a nondepository trust company chartered under the laws more

Become Your Partner’s Keeper

Stakeholders of law firms are often taken aback when they learn they are responsible both ethically and civilly for those individuals working in or for their firm, including their fellow stakeholders. A complete analysis of how and why is beyond the scope of this article. Suffice it to say, you more

Claims-Made Reporting Requirement

Professional liability insurance policy is provided on a claims-made basis, and not the more common occurrence basis. One significant difference between claims-made and occurrence policies is the timing required when making the claim. Claims-made insurance requires that a policy be in effect at more

The perfume of the premium must overcome the stench of the risk

As an LPLI policyholder, you may wonder exactly what an underwriter does. The basic purpose of underwriting is to evaluate risk, decide whether that risk will be accepted and determine an appropriate premium to cover that risk. A quote that has been floating around the world of underwriters for more

What’s the financial plan? Bringing a back burner issue to the table.

  ALPS understands that managing your career is about more than simply keeping up with the day-to-day duties of your practice. Yet often, it’s difficult to stop what you’re doing and really look any further into the future than next week. However, you may realize the distant future is not as more

CLAIMS CORNER - Even “Good Lawyers” Have Claims

Many times policyholders, defense counsel or lawyers we meet tell us, “You should insure (fill in the name of a colleague). They are a great lawyer and would be a great risk.” That kind of endorsement is meaningful and the reputation is often well deserved. In fact we usually try to proceed with more

INSIDE UNDERWRITING - Trending toward a hard market-what this could mean for you.

The insurance market, like any other market, has a cycle. The terms “soft” or “hard” are two standard terms used to describe where the insurance industry is in its cycle. In general, a soft market is a time of high competition, abundant coverage availability, and lower premiums. The hard market more