Professional Liability Insurance
Product Overview:
CAMICO - one program, two coverage options.
The CAMICO Program, providing professional liability coverage and practice and risk management services, is available to firms of all sizes at affordable rates. As a CPA, you need professional liability insurance to cover damages from an error committed by your firm in providing professional services; and to protect the assets of your firm and partners from the financial consequences of a claim.
We offer protection for smaller firms with up to $2 million in limits with coverage through CAMICO Mutual Insurance Company. For mid-size to large firms requiring limits of $3 million and above, the program is administered by CAMICO Insurance Services with coverage provided by Liberty Insurance Underwriters Inc., a part of Liberty Mutual Group companies that are rated 'A' (excellent) by A.M. Best.
Product Highlights:
- Broad range of professional services covered, including specific investment advice, computer consulting, business valuations, litigation support, trustee/executor and assurance services.
- Deductible credits of 50% to a maximum of $50,000 for reporting potential claims prior to the claim being made.
- Broad innocent insured provision applies to dishonest, fraudulent, malicious or criminal acts, errors or omissions.
- Optional zero deductible for defense costs.
- Unlimited 'tail coverage' period for qualified retiring sole practitioners.
Complete list of Coverage, Limits and Options
Product Overview:
Our employment practices liability insurance provides comprehensive defense and indemnity coverage for your firm's full-time, part-time, and contract workers. In response to the growing demand from CPA firms for insurance protection, human resources advice and legal services, our employment practices liability insurance was designed to address the proliferation of federal, state and local employment laws that make CPA firms vulnerable to claims and litigation. While large firms are natural targets and suffer the greatest financial losses, smaller firms have significant exposure as well.
Product Highlights:
- Third-party claimant provision protects the firm in the event that an allegation is made by the client's employee against your employee while on-site with a client.
- Pre-claim expenses such as attorneys fees are not charged against the deductible or limit of insurance.
- Reduction in deductible by 50% (up to $50,000) for reporting a matter before it becomes a claim or when formal mediation is utilized.
Complete list of Coverage Limits and Options
Product Overview:
CAMICO has partnered with the California Society of CPAs to provide more comprehensive insurance solutions, products, services and advice eared to the needs of CPAs. CAMICO Insurance Services (CIS); CAMICO's insurance agency and wholly owned subsidiary; acts as CalCPA's preferred insurance agency to recommend a full range of CPA business insurance products for CalCPA members.
California CPA firms now have a one-stop resource from which to obtain full business packages and other coverages required to protect a firm's practice and professional standing. CIS will help you select the best options for the following CalCPA endorsed products:
Business Owners Package - This policy protects your business and safeguards your assets by combining some of the basic coverages into one standard package that may be tailored to your specific business requirements. Learn more
Workers Compensation - Required by California state law for all businesses with employees, workers' compensation insurance provides medical and disability coverage for company employees who may experience employment-related illness or injury. Learn more
Personal Umbrella - This insurance protects individuals by providing additional liability coverage for claims that exceed, or may not be covered under, the limits of your primary insurance policy. Learn more
|
