No Cost CPE: Education and Training for Accountants (CPAs) with CAMICO



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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 at CAMICO

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    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:

     
    1. PHILOSOPHY

    3 Areas of Expertise: No-Cost In-House Expertise for Policyholders



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    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:

    1. Tax
    2. Accounting & Auditing

    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.

    3 Criteria Most CPA Firms Should Consider for Professional Liability Insurance

    Accountants face unique challenges when it comes to CPA professional liability insurance, and finding the right provider can be difficult. However, a knowledgeable and experienced industry veteran can help you decide on the right company to trust with your insurance and risk management program.


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    4 Key Savings for CPAs: CAMICO’s Exclusive Policyholder Benefits

    When looking for an insurance carrier, CPA (accounting) firms usually compare coverage and price to determine the “best deal.” But there is more to be saved than just premium. That is why you should also consider which insurance program gives you the best value and return on your premium. There are several areas where CAMICO® services and resources yield significant savings for policyholders.
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    Be wary of requests made by email cyber-attacks

    Email cyber-attacks

    The 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.

    Report Potential Claims and Concerns as Early as Possible

    Contact your professional liability and employment practices liability insurance carrier or agent as soon as an issue comes up. Adverse consequences often come from CPAs taking action before consulting their risk advisers. Better safe than sorry.
    Accountant Potential Claims


    Here are some reasons why CPAs should always contact their insurance carrier or agent for expert guidance:

      CAMICO Receives B+ (Good) Rating with Stable Outlook

      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.

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