Understanding First-Party and Third-Party Cyber Exposures

With cyber-security threats coming from all directions, it’s important for CPA firms to be aware of how the risk exposures impact the firm as well as the client. Just as important is understanding how an effective cyber insurance program works with the firm before and after a cyber incident occurs.

Cyber exposures and coverages are basically divided along two lines:
  • First-party, which refers to losses directly borne by the policyholder (or insured) firm, and

Top 5 Ways a CPA Can Invite a Malpractice Lawsuit

After more than 31 years of malpractice claims experience, CAMICO has developed a wealth of information about what causes disputes between CPAs and their clients, what leads to litigation, and how to avoid or minimize the damages from such conflicts. There are basic risk management steps that every firm can take to lower their exposures to risk, such as client and engagement screening, due diligence, documentation, due care, exercising skepticism, and being aware of the public standards for CPA services.

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