CAMICO and CPA Mutual Reach Agreement

CAMICO and CPA Mutual Conclude Agreement to Transfer Accountants Professional Liability Insurance Program to CAMICO

CAMICO, the nation's largest CPA-owned and directed program of insurance and risk management for the accounting profession, has reached an agreement with CPA Mutual to transfer CPA Mutual's Accountants Professional Liability Insurance program to CAMICO, effective Jan. 1, 2021, as policies renew.

The agreement represents the collaboration of two mutual insurance companies both founded by CPAs to provide CPAs with policyholder-oriented coverages and services customized for CPAs. Both companies were formed in 1986 in response to a professional liability insurance crisis that made it difficult for CPA firms to find affordable coverage, and both companies have identical missions that focus on the insurance and risk management needs of CPA firms.

CPA Mutual's member service and sales team will join CAMICO and will continue servicing CPA Mutual accounts as they transition to CAMICO. CPA Mutual will also continue to service open claims filed with CPA Mutual, using the same claims team, and assist with the transition. Steve Tatone, chairman of CPA Mutual's board of directors, will be joining the CAMICO governance structure to share his talents and knowledge of CPA Mutual policyholders.

"We are extremely pleased to announce this move," said Tatone. "CPA Mutual has provided CPAs with excellent services and coverage for 34 years, and transitioning our members to CAMICO will continue the same high-quality services and coverage our members have come to expect."

Bill Thompson, president of CPA Mutual, said, "As companies founded by CPAs for CPAs, CPA Mutual and CAMICO have always been committed to doing what is right for CPAs. We see this move as the best way to serve our members and to provide them with CAMICO’s additional knowledge, expertise, support and breadth of services."

"CAMICO is proud to have been selected to continue CPA Mutual's tradition of excellent service and expertise for its members," said Ric Rosario, president and CEO of CAMICO. "We look forward to partnering with these firms as they become CAMICO members and tap into CAMICO’s program to help ensure their security and success."

Share this post

Leave a comment

Filtered HTML

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <blockquote> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

Latest Articles

  • 02 Aug

    Online Education Opportunities Offering Free CPE

    We're happy to announce that we are offering four new webcasts and will continue to record new risk management content over the next several months. In addition, we are offering a wide selection of self-study courses leased from Checkpoint Learning. And as a reminder, all of our CPE is ava... read more

  • 12 Jul

    Malpractice Risks Increase During Difficult Economic Times

    In CAMICO's 35 years of experience, economic conditions have had a significant impact on CPA professional liability claims. In light of the current economic challenges, now more than ever, CPAs will need to be prepared and vigilant to minimize the potential of additional liability exposure... read more

  • 09 Jul

    Creditworthiness Verifications and PPP Loans

    CPA firms receiving requests from lenders for creditworthiness verifications for clients who had requested Paycheck Protection Program (PPP) loans were often unsure of how to respond. The advice CAMICO gave CPAs assisting their clients with PPP loan applications is valid for similar circum... read more

  • 07 Jul

    War Story 119

    Subject: Business Management Services; Wire Transfer Fraud

    John Duval, CPA, had been engaged for several years by a high-net-worth client, Ed Robertson, who developed commercial and residential real estate. Duval provided business management and bill-paying services, which inclu... read more