Business Liability-Property and Workers’ Compensation

CPAs face many risk exposures that stem from a variety of business areas and may cause major coverage gaps. Two such areas, sometimes overlooked, are business liability/property and workers’ compensation. Consider the following scenarios and solutions:

Business Liability


Problem – Your firm hosts a reception where alcohol is served, and a tipsy client trips and breaks his wrist. He sues your firm for medical expenses, loss of income, pain and suffering.

5 Ways To Get The Most Out Of CAMICO's Insurance Plans

Becoming a CAMICO policyholder doesn't just insure you against liability claims. CAMICO's member resources can help your firm grow and become more productive and valuable to clients.

Protect Yourself As You Grow: Engagement Letters

A clear, comprehensive engagement letter is one of your best protections against future disputes. CAMICO can help you expand into new practice areas without putting yourself at risk.

CAMICO's member website has more than 90 sample engagement letters. These are just a few of the practice areas covered:
  • Hackers have begun to go after smaller firms as "soft targets."
  • The 3 Biggest Reasons Accountants Need Cyber Coverage and Professional Liability Insurance

    Cybersecurity has become an increasingly important topic in public consciousness. In the past years, hackers have stolen vast amounts of consumers’ financial information and targeted national political parties. CPAs, like any group of professionals who handle confidential information, need to take steps to secure their clients’ data.

    If something goes wrong, accountants need to be insured for expenses and damages from the data breach. Here are some of the reasons why.

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    Latest Articles

    • 05 Feb

      Five reasons why CPAs believe they will never be sued

      CPAs generally take every precaution feasible to ensure error-free work, but that may not be enough to ensure a firm's security. In our litigious society, it's wise to be prepared for that unexpected bump in the road. To help put this in perspective, here are five common reasons why CPAs d... read more

    • 11 Jan

      January Tip - Documentation Tips for Tax Season

      Jurors (who are members of the public) generally consider CPAs to be experts in documentation, and falling short of that expectation when faced with a liability lawsuit may be viewed by the public as negligent and below the standard of care for the services rendered.

      The fol... read more

    • 17 Dec

      War Story 113

      #113: Difficult Client; Tax Planning and Return Preparation Services — A client with high turnover and disorganization in its accounting and financial staff is not only frustrating, but also a liability exposure if documentation is not thorough.

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