Albert Weaver Lawrence was a once successful insurance businessman. He owned the Lawrence Insurance Group and became the majority owner of the Capital District Islanders AHL franchise in 1991. He relocated the franchise to Albany, NY, in 1993. Lawrence ran into financial trouble in the early 1990s when his insurance company suffered from claims from natural disasters and the Los Angeles riots. He was forced to sell his stake in the AHL franchise in 1998. Walter Robb acquired the Albany River Rats through bankruptcy court on August 7, 1998.

In June 2000 Lawrence was convicted of embezzlement and fraud committed to keep his company in operation. He served only three months of his 37 month sentence due to being diagnosed with a terminal cancer. He died on January 9, 2002.