the largest single insurer of US law firms in the world, has kept its Duff & Phelps Credit Rating Co. claims paying ability.

Duff & Phelps reaffirmed ALAS rating at `AA' (Double-A). The agency also said the company's outlook was stable. The reaffirmation mirrors Standard & Poor's reaffirmation of the company's double `A' financial strength and counterparty credit rating in August.

Duff & Phelps stated that ALAS' sound loss prevention and claim management techniques, had helped the company build a good competitive position in the lawyers liability insurance market, strong surplus position, and high-quality investment portfolio. "Partially offsetting these positives are the company's monoline status and the very competitive nature of the lawyers liability market, which has resulted in severe price competition in recent years,'' Duff & Phelps stated.

ALAS is a mutual insurance company formed in 1979 to provide liability insurance to attorneys in the United States. The company insures a select group of law firms and provides those member firms with high policy limits and a high level of loss prevention services.

From its offices in Bermuda, Attorney's Liability provides insurance to about 50,000 US lawyers who are members of the company, and has about $1.6 billion in assets.