ALPS Insurance, a specialist US insurer focused on professional liability cover for legal professionals and law firms, together with the Ohio State Bar Association, a professional body representing lawyers in Ohio, has confirmed it has entered into a definitive agreement for ALPS to acquire the Ohio Bar Liability Insurance Company, a provider of legal malpractice insurance for attorneys.
The transaction is positioned by both organisations as a long-term step intended to support the continued provision of professional liability insurance for lawyers in Ohio.
It combines OBLIC’s established position and longstanding service to the state’s legal community with ALPS’ broader national reach, operational capabilities and specialist experience in serving the legal insurance market.
OBLIC has been part of the Ohio Bar’s structure since its creation in 1978, when it was established to provide malpractice cover at a time when such products were not widely available to attorneys in the state.
Mary Amos Augsburger, Chief Executive Officer of the Ohio State Bar Association, commented: “This is a strategic, forward-looking decision rooted in what is best for the legal profession, Ohio Bar members and OBLIC policyholders over the long term,” she added, “The insurance marketplace continues to evolve, and scale and specialisation are increasingly important. ALPS brings both, along with a deep understanding of the legal profession and commitment to serving lawyers and firms of all sizes. We are confident OBLIC will be well positioned for continued success under ALPS’ leadership and we look forward to the partnership ahead.”
David Bell, President and Chief Executive Officer of ALPS, added: “OBLIC has built an exceptional reputation for serving Ohio lawyers with integrity and focus, and we are honoured to have the chance to be the new stewards of that legacy,” and continued, “This partnership allows us to invest more deeply in underwriting, claims support, risk management and technology—ensuring that Ohio attorneys continue to receive high-quality, responsive coverage in an increasingly complex legal and insurance environment.”
Following completion, OBLIC is expected to continue operating under its existing brand identity, with policyholders seeing no immediate alteration to their coverage, terms or service arrangements. The Ohio Bar will maintain its exclusive endorsement of OBLIC for members’ professional indemnity needs, while ALPS plans to draw on its national infrastructure to strengthen capabilities and expand its presence across the Midwest, with Ohio remaining a key operational base.
The Ohio Bar will continue to concentrate on its core activities supporting lawyers through advocacy, training and member services, while working alongside ALPS as the arrangement develops. Completion of the transaction is subject to customary closing conditions, including regulatory approvals.
Legal advisers to the Ohio Bar include JRW Esquire LTD in Columbus, Ohio, while international law firm McDermott Will & Schulte is acting as legal adviser to ALPS. Howden Capital Markets & Advisory is serving as exclusive financial adviser to ALPS in connection with the transaction.
