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A.M. Best Withdraws Ratings of Attorneys' Liability Assurance Society, Inc., A Risk Retention Group
[May 05, 2016]

A.M. Best Withdraws Ratings of Attorneys' Liability Assurance Society, Inc., A Risk Retention Group


A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of "a-" of Attorneys' Liability Assurance Society Inc., A Risk Retention Group (ALAS) (Burlington, VT). The outlook for each rating is stable. Concurrently, A.M. Best has withdrawn the ratings in response to the company's request to no longer participate in A.M. Best's interactive rating process.

The affirmation reflects ALAS' supportive risk-adjusted capitalization, strong business profile in the legal professional liability (LPL) line of business, a clearly defined and actionable enterprise risk management program focused on loss prevention and effective use of reinsurance. These factors are offset by ALAS' exposure to low-frequency, high-severity risks, and the inherent risks of underwriting insurance coverage within the LPL sector, particularly given the competitie market conditions. In addition, elevated underwriting losses in recent years and lower investment yields have resulted in below-average operating performance.



This press release relates to rating(s) that have been published on A.M. Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best's Recent Rating Activity web page.

A.M. Best is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.


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