3 Criteria Most CPA Firms Should Consider for Professional Liability Insurance

Accountants face unique challenges when it comes to CPA professional liability insurance, and finding the right provider can be difficult. However, a knowledgeable and experienced industry veteran can help you decide on the right company to trust with your insurance and risk management program.


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4 Key Savings for CPAs: CAMICO’s Exclusive Policyholder Benefits

When looking for an insurance carrier, CPA (accounting) firms usually compare coverage and price to determine the “best deal.” But there is more to be saved than just premium. That is why you should also consider which insurance program gives you the best value and return on your premium. There are several areas where CAMICO® services and resources yield significant savings for policyholders.
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Be wary of requests made by email cyber-attacks

Email cyber-attacks

The email looks legitimate and trustworthy, and it appears to be from someone you know, such as a long-term client of the firm. The client requests a change in bank accounts and routing numbers to send a tax refund to the new account. Or the client requests a wire transfer of client funds to a new bank account.

Report Potential Claims and Concerns as Early as Possible

Contact your professional liability and employment practices liability insurance carrier or agent as soon as an issue comes up. Adverse consequences often come from CPAs taking action before consulting their risk advisers. Better safe than sorry.
Accountant Potential Claims


Here are some reasons why CPAs should always contact their insurance carrier or agent for expert guidance:

    CAMICO Receives B+ (Good) Rating with Stable Outlook

    CAMICO financials remain sound after five consecutive years, 2010 through 2014, in which CAMICO’s net income and policyholder surplus have grown. All key financial ratios have not only returned to the normal levels of the years prior to 2008, but these ratios have improved to levels greater than the best years in CAMICO’s history.

    Don’t Miss Out on Free CPE

    CAMICO offers several hours of free CPE to policyholders each year through webcasts on the LearnLive platform (https://university.learnlive.com/camico). We provide education on risk management specifically for CPA firms, brought to you by our experts, many of whom are CPAs themselves. You won’t find this level of expertise and depth of risk management content anywhere else.

    CAMICO webcasts are an outstanding way to fulfill CPE requirements, and they offer a number of advantages. For example, our webcasts:

  1. what if the client becomes the target of a federal investigation, and the association between the client and the firm becomes public?
  2. Marijuana Business Clients: ‘Smokin’ Hot’ Issues for CPAs

    The marijuana industry is a prime example of a “current, emerging and future” risk area, given the number of perplexing difficulties CPAs face when trying to assess the special considerations pertaining to marijuana business clients and to the CPA firms that service such clients. At the heart of the difficulties is the split between federal law, under which marijuana is basically illegal, and the laws in states where voters or legislators have approved measures to allow the use of marijuana for medical and/or recreational purposes.

    SSARS No. 21 Risk Management and Implementation Issues

    By Duncan B. Will, CPA / ABV / CFF, CFE

    AICPA’s Accounting and Review Services Committee (ARSC) issued Statement on Standards for Accounting and Review Services (SSARS) No. 21 in October 2014. This Standard marked the conclusion of the ARSC’s Clarity Project, which clarified and modified existing standards covering the performance of review and compilation engagements for historic financial statements.

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