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CAMICO Tip of the Month: Beware of Business Associate Agreements

Last year, the U.S. Department of Health and Human Services (HHS) released the omnibus regulations under the Health Insurance Portability and Accountability Act (HIPAA), including implementing changes made by the Health Information Technology for Economic and Clinical Health Act (HITECH, the final rule). Some of the sweeping changes directly affect business associates. CAMICO has experienced … Read more

Why CPAs need Professional Liability Insurance

As a CPA, you need ‘Errors and Omissions’ insurance to cover damages from an error committed by your firm in providing professional services; and to protect the assets of your firm and partners from the financial consequences of a claim. However, CAMICO frequently hears of CPAs who choose not to purchase Professional Liability Insurance because … Read more

CAMICO Receives The Kansas Society of CPAs’ Exclusive Endorsement

SAN MATEO, Calif.–(BUSINESS WIRE)– CAMICO (www.camico.com), the nation’s largest CPA-focused program of insurance and risk management for the accounting profession, has been named the exclusively endorsed provider of professional liability and employment practices liability insurance for The Kansas Society of Certified Public Accountants (KSCPA). Created by CPAs to protect CPAs, CAMICO provides insurance products and … Read more

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Alert: Internal Revenue Service and U.S. Treasury Issue Final Capitalization Regulations

In September 2013, the IRS and U.S. Treasury issued final capitalization regulations. These revised regulations, under specified circumstances, permit business taxpayers to make safe harbor elections that would enable them to deduct expenditures that might otherwise need to be capitalized. The focus of this alert is on the de minimis safe harbor election and the … Read more

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CAMICO’s Award Winning IMPACT

CAMICO’s Loss Prevention and Claims department experts answer some of the most frequently asked questions in this excerpt from CAMICO’s IMPACT. CAMICO’s policyholder risk management newsletter, IMPACT, recently received an APEX Grand Award for one of its articles on the “Top 10 Loss Prevention and Claims Questions.” In honor of that recognition we’re posting two … Read more

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Tips to Protect Against Identity Theft

Data breaches and identity theft have led to an increase in fraudulent tax filings, and tens of thousands of honest taxpayers have been subjected to delays in their legitimate refund claims, according to the Internal Revenue Service. Most CPA firms are good custodians of client data, but occasionally a laptop or USB (thumb) drive will … Read more