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.

  • 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.
  • 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.

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    Latest Articles

    • 08 Jan

      Avoiding estate tax return claims

      Late-filing penalties for estate tax returns are often used as grounds for professional liability claims against CPAs, in large part because of their cost: Given the steeply progressive tax rates for estate tax and rapidly accruing penalties, they often exceed $300,000. Here are some tips ... read more

    • 20 Dec

      Ransomware Still a Problem – Pre-Tax Season Cyber Tips

      CAMICO's reported cyber-related claims show hacker attacks on CPA firm email systems were the most frequent cause of losses for firms for the 14-month period from July 2018 through August 2019. These claims accounted for almost two-thirds of cyber-related claims.

      ... read more

    • 05 Dec

      Six Tips for Safe Holiday Celebrations

      Employer-hosted events to celebrate the holidays and thank employees for jobs well done often come with liability and other risks when the events include alcohol.

      "Impaired judgment and lowered inhibitions as a result of alcohol consumption give rise to a variety of dangers,... read more