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CTA-BOI Reporting … The Saga Continues

The new beneficial ownership reporting requirements under the Corporate Transparency Act (“CTA”) took effect on January 1, 2024, and months later, the small business community remains woefully unprepared for compliance with this complex reporting regime. CAMICO continues to receive numerous inquiries from policyholders regarding implications of assisting clients with the new beneficial ownership information reporting … Read more

Five Common Missteps in Managing CPA Liability Risk

Managing CPA liability risk exposures is a complex process, and it’s easy to underestimate the potential for risk along the way. The following five missteps can be avoided by being aware and taking the right actions. 1. Not discussing questions about the insurance application with your underwriter or agent. Whether it’s for a new or … Read more

Why It’s Important to Maintain Prior Acts Coverage

Do Not Lose Coverage for Your Prior Acts! Most Accountants Professional Liability insurance policies are “claims made and reported” policies. Two important features of claims made and reported policies include: The insurance applies only to claims that are first made and reported to the insurance company during the policy period. The insurance provides coverage for … Read more

Understand Your Risks: Generative Artificial Intelligence Solutions

Generative artificial intelligence (“AI”) solutions such as OpenAI’s ChatGPT continue to gain popularity. Many CPA firms seek to leverage the use of generative AI to accelerate innovation and increase productivity. As the use of AI technology evolves, CPAs need to obtain a solid understanding of their needs and objectives – and gain an understanding of … Read more