CAMICO POSTS FOURTH STRAIGHT YEAR OF GAINS IN SURPLUS AND NET INCOME

SAN MATEO, CA (May 29, 2014) – CAMICO (www.camico.com), the nation’s largest CPA-focused program of insurance and risk management for the accounting profession, earned $1.2 million in net income and posted a gain in policyholders’ surplus for the year ended December 31, 2013.

Total CAMICO policyholders’ surplus for 2013 was $38.5 million, up from the $38.2 million posted in 2012.

The year 2013 marks the fourth straight year of gains in policyholders’ surplus and net income for CAMICO. The policyholder retention rate for 2013 was 92.6 percent, consistent with an annual policyholder retention rate of more than 92 percent for the past 20 years.

The company’s results are detailed in its 2013 Operations Report, which has been posted online at www.camico.com along with 2013 audited financial statements.

“CAMICO is continuing to build long-term value for CPAs by providing unmatched expertise and solutions via a financially strong program,” said Robert P. Evans, CPA, CISA, CAMICO chairman of the board. “Our dedication to the accounting profession and outstanding service drive the high level of policyholder satisfaction seen year after year.”

Contact: Dan Crouch CAMICO dcrouch@camico.com 650.378.6827 - office 925.324.1369 - mobile www.camico.com

Share this post

Leave a comment

Filtered HTML

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <blockquote> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

Latest Articles

  • 26 Aug

    When fraud is suspected

    Before taking any steps to help a client that may have suffered a fraud or misappropriation of assets, ask yourself the following questions:

    • Do I possess the requisite professional competence?
    • Do I have the necessary experience/qualifications?
    • Will my assistance i... read more

  • 27 Jul

    When to Use Mediation and Arbitration

    Mediation for all disputes

    Claims experience has shown that mediation has a high success rate when used as a first step to resolve all disputes, regardless of the engagement. CAMICO therefore recommends mediation for all disputes and engagements, except when the anticipated cost of... read more

  • 18 Jun

    AICPA Benevolent Fund

    As a CPA, you are a member of a growing, vibrant professional community that has afforded you great opportunities. As you plan your future, you may be considering ways in which you can help safeguard your community during times of struggle.

    ... read more

  • 18 Jun

    CAMICO War Stories #111-A and #111-B

    #111-A: Tax Return Preparation, Hacker Attack — When a hacker penetrated the CPA firm’s computer network, the firm’s cyber coverage responded with an investigation and comprehensive services.

    #111-B: Business Management Services, Email Fraud — The client... read more