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11 Alaska B. Rag 1 (1987)

handle is hein.barjournals/askabar0011 and id is 1 raw text is: Schaible retires - Page 6 Judge Vad does retire, Page 8, Bar joins lawyer-owned insurance company Board of Governors By Ralph R. Beifline Most attorneys who have practiced for any length of time are aware of the periodic fluctuations in the cost and availabiliy of professional liability insurance. That prob- lem has never been more apparent than dur- ing 1985 and 1986. During those years, many Alaska attorneys with no prior claims experience have been billed for premiums which doubled or tripled the amount they paid the previous year. In some of those cases, the coverage afforded was a fraction of vhat it had been previously In the past two years, it has not been uncommon for offices with any claims experience to find that it was difficult or impossible to get coverage at all. Private companies have entered and left the Alaska market at srill, depending on a number of different economic circumstances. The number of attorneys who cur- rently practice in Alaska ,,ithout liability coverage or with inadequate liability cover- age is on the rise. Not only does this present a problem for the attorney, but it presents a potentially significant problem to the Alaska public who use those attorneys' services. The public should not be left vithout recourse after the loss of important rights due to an error or omission by the professionts upon whom ihey relied. Fo these easons, the Alaska Bar Association, through the efforts of its insurance Committee chaired by Keith Brown and through the efforts of others, including Board member Mike Thompson, has been working to form a lawyer-owned insurance company to provide coverage to Alaska lawvers. The ultimate goal is to increase the availability of coverage to Alaska lasswyers at rates that are predictable and sshich avoid wild fluctuations based largely on investment policies and interest rates over which Ave now have no control. The Alaska Bar Association has been joined in that effort by several other states. Eight states, including Alaska, Delaware, Kansas, Montana, Nevada, North Dakota, South Dakota, West Virginia, and Wyoming are committed to the formation of a lawyer- owned company. At least three other states, including Idaho, Nebraska, ano New Mexico are expected to make a similar deci- sion and join in this effort. A corporation called Attorney s Lia- bility Protection Society (ALPS), has been created to handle the formation functions. It trill be converted into the insurance com- pany providing coverage in all of these states, as soon as a situs jurisdiction has been selected and the compary approved by the appropriate regulatory authorities. Continued on page 4 IOLTA arrives By Mary K. Hughes IOLfA! The Alaska IOLTA (interest On Lawyers Trust Accounts) program is on its way. The Alaska Supreme Court adopted anmendments to DR 9-102 on November 20, 1986, effective March 15, 1987. Thus, the IOLTA progiam is established for the State of Alaska. Beginning March 15, 1987, lawyers and lair firms may place client trust money, previously held in commingled, noninterest- bearing checking accounts, into interest- bearing NOW accounts. The interest earned on each account vill be paid periodically to the Alaska Bar Foundation (ABF). Designated by the judges of the Alaska Supreme Court as the organization to administer the IOLTA program, ABF wvill use tie interest income to make grants to nonprofit providers of legal services to the poor. ABF is launching a major campaign for recruitment of financial institutions and lawyers to participate in the IOLTA program. petition for rehearin in Buckialew When the Supreme Court rejeced the Board of Governors recommendation for a five ,ear suspension with disbarment reinstalement requiremnits for Roberit J. Buckalesv, it adopted the newly formulated ABA standards for attorny 'disciplin. These standards overruled vix previous Alaska discipline cases ani hav, been criticized as bringing presumptie sentienc- ing to the attorney discipline proess. These es rules ere udopted wtithot notice or opportunity t0 comment by ihe affected parties, including the Board of enors. Acordingly, the Board of Goernrsored ruianet.i -IS c peite h apseisr Cour for rehear. i:,g ks'ti lat rlile cout 's opinion efnlcis nosolic: lauon of ievvs conv~erning the dmirabtlily of the ABA Standafds from either the Board of Governors of- t t: Alka Bar Asociation or t he Bar's re ibersblp. A key (actor in the settliement' o laska Bar Assoriatiot, cr al us Bitell A. Nvbcr., c. al, U.S. District Court No. A-42 64, was the principle that bar rules ,voild be protnul- gated by the Board of Gornls ardd reviesved and adopted by thi Court. The court's st/a spote adontion of the ABA Standards without promulgation or comment be the Board of Goernors und comment by tire membership of the Bar is contrary tothis long established principle. I Because of the importance of thi, issue, the Board of Gosertiors has reqteie t d oral argument. The frill text of the Petition for Rehearing s5 wt out on page 27 . Continued on page 4 Alaska Bar Association P.O. Box 100279 Anchorage, Alaska 99518 uS. Portar Ead Permi N. 401 A rat9, usrrt tak

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