Preparing for the Next Recession

Economic conditions historically have a significant impact on CPA professional liability claims. When the economy is doing well, and businesses are relatively flush with money, people are less likely to notice funds missing. Fraud therefore tends to flourish and go undetected in good times.

When the economy takes a downturn, capital starts to become more precious, people look more closely at accounts, and missing funds are more often detected. In general, there are more claims and larger claims reported in an economic downturn.

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

Changes to AICPA Interpretations and Definitions Pose Risks for Those Unaware

The AICPA’s Professional Ethics Executive Committee has revised existing ethics definitions and existing and adopted new interpretations. The new and revised interpretations and guidance include new definitions for "Attest client" (ET sec. 0.400.03) and "Client" (ET sec. 0.400.07) which could be an issue for accountants unaware of the change.

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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