Ohio State Bar Association and ALPS Insurance Reach Agreement for Sale of Ohio Bar's Insurance Provider

Business Wire

COLUMBUS, Ohio--(BUSINESS WIRE)--
The Ohio State Bar Association (Ohio Bar) and ALPS Insurance (ALPS) today announced that they have entered into a definitive agreement under which ALPS will acquire the Ohio Bar Liability Insurance Company (OBLIC), a leading provider of professional liability insurance for attorneys in Ohio.

The transaction reflects a shared commitment to strengthening the long-term delivery of legal malpractice insurance to Ohio lawyers by aligning OBLIC’s strong reputation and history of lawyer-focused service with ALPS’ national scale, infrastructure and specialized expertise serving lawyers.

“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,” said Mary Amos Augsburger, CEO of the Ohio State Bar Association. “The insurance marketplace continues to evolve, and scale and specialization 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.”

“OBLIC has built an exceptional reputation for serving Ohio lawyers with integrity and focus, and we are honored to have the chance to be the new stewards of that legacy,” said David Bell, President and CEO of ALPS. “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.”

OBLIC was founded by the Ohio Bar in 1978 to serve the professional liability needs of Ohio attorneys at a time when few insurers provided legal malpractice insurance. Since then, it has grown into a trusted and stable insurer with a strong policyholder base statewide. As the scale of the industry has continued to evolve, the continued success of OBLIC and its mission requires a partner with the resources and expertise ALPS can provide.

Under the terms of the agreement:

OBLIC policyholders will see no immediate changes to their coverage or terms or service;
OBLIC will continue to operate under the existing brand with a focus on serving Ohio attorneys;
ALPS will leverage its growing national platform to enhance resources available to policyholders and grow its services in the Midwest, with OBLIC and Ohio as a base; and
The Ohio Bar will continue to exclusively endorse OBLIC for the malpractice insurance needs of its members following the transaction.

The Ohio Bar will continue to focus on its core mission of serving Ohio lawyers through advocacy, education and member services, while maintaining a strong and collaborative relationship with ALPS going forward.

The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close following receipt of such regulatory approvals.

JRW Esquire LTD, Columbus, Ohio is serving as legal advisor to the Ohio Bar and international law firm McDermott Will & Schulte is serving as legal advisor to ALPS. Howden Capital Markets & Advisory is acting as exclusive financial advisor to ALPS.

About the Ohio State Bar Association: The Ohio State Bar Association, founded in 1880, is a voluntary professional association open to any person who has been admitted to the practice of law in Ohio. Our mission is to promote justice and advance the legal profession.

About OBLIC: The Ohio Bar Liability Insurance Company provides professional liability insurance to Ohio attorneys, with a focus on stability, service and risk management.

About ALPS: ALPS Insurance has a well-established reputation as the nation’s leader in insurance solutions for law firms. Since its inception in 1988, ALPS has provided legal malpractice insurance with a focus on protection, stability, and unwavering commitment to the legal community.

As the endorsed provider for more state bars than any other insurance company, ALPS demonstrates its expertise and reliability in the industry.