Claims Handling & Potential Claims Assistance
CAMICO’s team of dedicated claims specialists works to develop equitable resolutions that best protect the interests of policyholder firms. Policyholders work directly with well-trained claims specialists with many years of experience in handling accountants professional liability claims.
To date, the specialists have used their expertise in managing more than 15,000 incidents that could have led to claims. On an average, our hotlines receive more than 750 calls from policyholders each month, one-third of which concern problems that have the potential to become claims
CAMICO’s strategy involves a proactive approach and a strong emphasis on risk management.
Our claims handling philosophy includes:
- CAMICO’s sole focus on the CPA profession delivers exacting counsel throughout the claims handling process, so claims are resolved efficiently and expeditiously. Our claims specialists view every claim as an opportunity to demonstrate CAMICO’s superior knowledge, expertise and personal approach to helping our policyholders.
- CAMICO encourages policyholders to notify us of potential claims situations as early as possible. In fact, we provide a 50% reduction in deductible (up to $50,000) for early reporting of a potential claim during the policy period in which it becomes known, or use of formal mediation to attempt to resolve a claim. An early evaluation of the problem often leads to an early resolution, reducing the demand on policyholder time and resources.
- Intervene where appropriate, including ‘repair work’ on behalf of the policyholder
- Provide a proactive defense to claims – not passive and reactionary. Upfront analysis enables the development and implementation of a strategy to resolve the matter in a focused manner.
- To achieve best results, our proactive approach includes assembling, when warranted, teams of experienced lawyers, experts, and consultants and also includes a strong emphasis on risk management.
- Counsel policyholders on ways to avoid or minimize exposures