Claims
Claim Chronicles 123-B
Topic: False Claims Related to PPP Loans The following Q&A with CAMICO Claims experts reflects recent claims experience involving potential false claims related to Paycheck Protection Program (PPP) loans issued (and forgiven) during the COVID-19 pandemic. Q: What concerns have CAMICO policyholders recently reported regarding some PPP loans? A: They have reported matters involving clients … Read more
Claim Chronicles 123-A
Topic: Cyber – Stopping a Cyberattack in Its Tracks CAMICO policyholder Henry Gould of Gould & Young, LLC, received a text from the firm’s third-party IT company, LHG Consulting, that there was an issue with the company’s network. Taken back by the alert, Gould immediately headed to the office where an LHG specialist showed him … Read more
Meet CAMICO’s New Vice President of Claims – Shannon Comer
Shannon Comer Shannon Comer was promoted to Vice President of Claims, effective March 31, 2023. In this role, Comer is responsible for the overall direction, coordination, and evaluation of the Claims department. Comer has been with CAMICO since July 2021, learning the unique nature of claims that arise from CAMICO’s CPA policyholders. She has been … Read more
Claim Chronicles 121-B
Topic: Fraudulent Wire Transfers, Social Engineering SchemeServices: Bookkeeping and Bill Pay Worthingham Financial, an established accounting firm, has been providing bookkeeping and bill pay services to consumer finance business Smart Money Express. The process is consistent — Smart Money receives its invoices from its Chief Operating Officer Larry Tollefson. If the invoices are for more … Read more
31 Reasons CPAs are Sued
CPAs who are sued are often in the wrong place at the wrong time with the wrong decision. These situations that landed CPAs in court are real—drawn from CAMICO’s claims files. 1) Trusting a client too much A long-time client asked her CPA to perform an audit for a new insurance company she’s invested in. … Read more