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:

    Tip of the month: 5 Warning Signs of a Claim

    Even when covered by insurance, claims can have a significant impact on your practice in terms of time, money, professional reputation, and peace of mind. By knowing the warning signs of a claim, and calling your risk advisor early on, you can help minimize the impact of lost billable hours, revenue and sleep. What are the red flags? Here are five general warning signs that trouble may be brewing.

  1. Friendly divorcing couples don't always stay friendly, and who do they blame when things don't work out the way they had hoped? The CPA.
  2. March tip of the month: Conflict of Interest

    CPAs often run into situations where they have been preparing tax returns for a married couple for several years, and the couple decides to get a divorce. Divorcing spouses who ask their CPA to provide advice and services to both spouses often present a potential conflict of interest. Friendly divorcing couples don’t always stay friendly, and who do they blame when things don’t work out the way they had hoped? The CPA.

    Billing, Collecting and Client Screening

    The Loss Prevention Specialists at CAMICO consult with policyholders on a variety of topics, providing practice and risk management advice. In his video, Duncan B. Will, Loss Prevention Manager, shares an example of how CAMICO helps CPAs via our Advice Hotlines. One of the topics he mentions is fee collections – CAMICO frequently receives calls from CPAs seeking advice on this problematic area. Here are some practical tips on dealing with some of the issues.

    Your liability risk exposures don’t end after tax season

    Tax season is over, but your firm’s exposure to liability risk is not.

    CAMICO often hears of CPAs who choose not to purchase Professional Liability Insurance because they think it is unnecessary. Here are 4 reasons why CPAs don’t think they need malpractice Insurance, and how this approach can be risky.

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