You will find a wealth of best practices and risk management resources at your fingertips on the CAMICO Members-Only Site. There are 5 main areas of important information and tools for accountants who are CAMICO policyholders.
- Knowledge Tree:
Accountants (CPAs) can receive training and NASBA-accredited CPE through the many free CAMICO educational opportunities available to CAMICO policyholders. In-depth risk management training provides up-to-date information and insights on issues of significance to the accounting profession. All CAMICO policyholders have access to the following:
CLAIMS HANDLING APPROACH
In spite of a CPA’s best intentions, there is always the potential for an error, omission, or client disappointment. CAMICO policyholders work directly with in-house claims specialists who have many years of experience in handling accountants’ professional liability insurance claims. CAMICO follows three basic steps when handling claims:
No-Cost In-House Expertise Utilize our in-house specialists who have an average of 16 years of experience in risk management and average of over 20 years of experience in public and private practice per individual. CPAs can call a General Loss Prevention hotline as well as specialized hotlines focused on the following areas:
- Accounting & Auditing
Email cyber-attacksThe email looks legitimate and trustworthy, and it appears to be from someone you know, such as a long-term client of the firm. The client requests a change in bank accounts and routing numbers to send a tax refund to the new account. Or the client requests a wire transfer of client funds to a new bank account.
Here are some reasons why CPAs should always contact their insurance carrier or agent for expert guidance:
CAMICO financials remain sound after five consecutive years, 2010 through 2014, in which CAMICO’s net income and policyholder surplus have grown. All key financial ratios have not only returned to the normal levels of the years prior to 2008, but these ratios have improved to levels greater than the best years in CAMICO’s history.
CAMICO was recently honored by the Washington Society of Certified Public Accountants (WSCPA) as the society’s 2014-2015 Business of the Year.