Loss Prevention Tips for Tax Season

CAMICO has been developing solutions for CPA professional liability problems for more than 31 years, and tax season has always been a major part of that activity. The use of engagement letters for non-audit work, including tax engagements, was pioneered by CAMICO as an effective way to help document the CPA’s understanding with the client.

How CAMICO’s Claims Experience Works for You

The CAMICO Claims philosophy goes back to the company's founding principles: help CPAs proactively address the costly risk management problems they face, and encourage policyholders to report problems early, before they become big problems.

The conventional insurance company approach is to discourage policyholders from reporting problems by providing premium credits for "claims-free status," thereby encouraging policyholders to handle potential claims on their own – a dangerous practice with potentially disastrous financial and reputational consequences for a CPA firm.

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Latest Articles

  • 26 May

    Advise and Warn Clients of Embezzlement Risks

    By Ron Klein, J.D.

    The classic small-business embezzlement scenario has occurred so many times over the years that CAMICO Loss Prevention specialists have it memorized:

    The client is a small business owner who is too busy running the business to supervise ... read more

  • 20 May

    Cyber-Security for Working Remotely

    CAMICO's recent cyber claims experience shows that the cyber-security of employees working remotely has not been as effective generally as cyber-security in an onsite office location. The lower security is being exploited by hackers, many of whom are increasing their ransomware demands. <... read more

  • 18 May

    PPP Update / Returning to the Office —The 'New Normal'

    CAMICO continues to monitor the information and guidance on COVID-19 relief measures being put into place by regulatory and legislative bodies to combat the detrimental impacts of this pandemic on people, as well as on the economy.

    Paycheck Protection Program ("PPP") —... read more