The AIIF is a non-profit short-term insurance company. The company is an insurer licenced in terms of the Short-term Insurance Act 53 of 1998 and regulated by the Financial Services Board (FSB). The Board of Control of the Attorneys Fidelity Fund (AFF), acting in terms of sections 40A and 40B of the Attorneys Act 53 of 1979, established the AIIF in 1993 as the company through professional indemnity insurance and certain bonds of security will be granted to practising attorneys.  The AIIF’s provides a primary layer of professional indemnity insurance to all practising attorneys in South Africa. The AIIF also provides bonds of security to attorneys appointed as executors of deceased estates.