SAN MATEO, CA (May 3, 2021) – CAMICO, the nation's largest CPA-owned and directed program of insurance and risk management for the accounting profession, posted total policyholders' surplus of more than $45 million for the year ended December 31, 2020, up from $43.5 million posted for 2019.
CAMICO's policyholder retention rate for 2020 was 94 percent, consistent with the company's historical retention rate, and CAMICO continues to maintain key financial ratios at historically high levels.
The company's results are detailed in its 2020 Operations Report
, which has been posted online at
along with 2020 financial statements.
"The significant challenges of 2020 have served to further sharpen our focus on the CPA profession," said Andrew M. Eassa, CPA, CVA, CAMICO chairman of the board. "As we celebrate CAMICO's 35th anniversary in 2021, we will continue to stand by our policyholders with expertise and guidance, no matter the size or complexity of the problem, regardless of market or economic conditions."
CAMICO delivers insurance, risk management and related services to more than 8,000 CPA firms and 50,000 staff members in 49 states and the District of Columbia. Founded in 1986, CAMICO is endorsed by state CPA societies and associations in Alaska, Arizona, California, Colorado, Greater Washington D.C., Idaho, Indiana, Kansas, Mississippi, Missouri, Nevada, New Jersey, New York, Oregon, Tennessee, Utah, Virginia and Washington. CAMICO provides Professional Liability Insurance, Employment Practices Liability Insurance, and other insurance products needed by CPA firms.