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Press Kit
The CAMICO Story
CAMICO is the nation's largest CPA-directed program of professional liability insurance, employment practices liability insurance and risk management services exclusively for Certified Public Accountants.
Founded in 1986 by CPA firms in California in response to a professional liability insurance crisis, CAMICO today provides innovative coverage options and extensive education and advice for more than 7,600 (as of 09/01) CPA firms and approximately 57,000 staff members in 45 states and the District of Columbia.
From its headquarters in Redwood City, California and offices in New York City and Atlanta, CAMICO employees deliver loss prevention, claims and advisory services, as well as high-quality legal defense for its members at competitive rates.
CAMICO - one program, two coverage options
| Policy Limits |
Insurance Carrier |
A.M. Best Rating |
| $3 million to $10 million (CAMICO-LIU) |
Liberty International Underwriters (LIU), A Liberty Mutual Group company |
A (Excellent) |
| $2 million or less (CAMICO Mutual Insurance Company) |
CAMICO Mutual Insurance Company |
B++ (Good) |
Financial Strength
| Total Assets |
$153.7 million (12/31/09) |
| Net Premiums Earned |
$29.3 million (12/31/09) |
| Gross Premiums Written |
$60.8 million (12/31/09) |
| Policyholders' Surplus |
$32.1 million (12/31/09) |
Ownership
CAMICO was founded June 24, 1986. After a task force of the California Society of Certified Public Accountants recommended formation of a captive insurer, a group of more than 2,000 California CPAs capitalized the company with nearly $18 million in initial capital and the company opened for business with three staff members, including former CEO John Dodsworth, who will continue to serve on the Board. All initial investors were repaid in full by November 1998.
Management
| Ric Rosario, CPA, CFE |
CEO and Director |
| Sandra A. Maker |
Executive Vice President of Marketing and Communications |
| Stuart E. Olson, CPA |
Executive Vice President of Operations and Chief Financial Officer |
| Stephen W. Dixon |
Vice President of Human Resources and Administrative Services |
| Suzanne M. Holl, CPA |
Vice President of Loss Prevention Services |
| Ron Klein, J.D., CFE |
Vice President - Claims Counsel |
| Michael La Mothe |
Vice President, Controller |
| Christopher Piety, Esq. |
Vice President of Claims |
| Jagdeep Randhawa |
Vice President of Information Technology |
Click here for complete Executive Biographies
Policyholder Count and Distribution Channels
CAMICO covers more than 7,600 CPA/accounting firms totaling more than 57,000 staff members. CAMICO distributes its products and services directly and through independent insurance agents and brokers nationwide.
Professional Liability Insurance
- Professional liability coverage includes insurance for specific investment advice, computer consulting, business valuations, and any other CPA services.
- Limits up to $10 million with higher limits available.
- 5% premium credit to firms that agree to exclude coverage for claims arising subsequent to suing for fees.
- Deductible credits of 50% to a maximum of $50,000 for reporting potential claims prior to the claim being made OR for use of mediation.
- Unlimited 'tail coverage' period for qualified retiring sole practitioners.
Click here for complete Coverage, Limits and Options
Employment Practices Liability Insurance
- Comprehensive defense and indemnity coverage for your firm's full-time, part-time, and contract workers
- 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
- Extensive advice services and online resources
Click here for complete EPL Coverage, Limits and Options
Risk Management Services
- Toll-free hotlines and online access to experts providing loss prevention guidance
- Estate, gift and corporate tax advice exclusively for CAMICO policyholders
- Subpoena and consultation services
- Comprehensive Member-only site
- Online education and training
Click here for complete Risk Management Services
State Sponsorships
CAMICO is sponsored by state CPA societies/associations:
General Information
Headquarters
1235 Radio Road
Redwood City, California 94065
Northeast Regional Office
45 Broadway, 16th Floor
New York, NY 10006-3792
Southeast Regional Office
570 W. Crossville Road, Suite 104
Roswell, Georgia 30075
Website
www.camico.com
Media Contacts:
Dan Crouch, Communications Manager
CAMICO
650.802.2527 - voice
888.422.6426 - fax
dcrouch@camico.com
John Knox, Principal
Knox Communications
415.255.9043 - voice
415.864.7980 - fax
knoxee@aol.com
Curt Olsen, Associate
Knox Communications
415.621.4200 - voice
650.576.6109 - cell
415.864.7980 - fax
curt@cfo-communications.com
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