Click Here for a free estimate!

25 East Spring Valley Avenue
Maywood, NJ 07607
1 (877) CPA-GOLD

Scammers deepfake CEO’s voice to talk underling into $243,000 transfer

Post Image

Based on an article by Lisa Vass of Nake Security by Sophos. Any CPA firm mind should be painfully aware of how much money they could loose via skillful Business Email Compromise (BEC) scams, where fraudsters convincingly forge emails, invoices, contracts and letters to socially engineer the people who hold the purse strings.  There have been […]

Read More

Professional Liability for CPAs – Understanding your coverage – Part IV – Exclusions

Post Image

  AKA what’s not covered…. By Rickard Jorgensen, FCII, ARM, ACIArb Whereas the coverage grant provides affirmative coverage, the exclusions take coverage away. If an activity is listed in the exclusions section of the policy, you do not have any coverage, no matter what the other sections of the policy state. It is the absolute […]

Read More

Equifax breach settlement

Post Image

by Rickard Jorgensen, FCII, ARM, ACIArb. You may recall that in September 2017 we reported on the data breach suffered by the national credit reporting agency.  Go here for the article. According to Reuters — Credit reporting company Equifax Inc. will pay up to $700 million to settle U.S. federal and state probes into a […]

Read More

The Most Expensive Insurance Policy is Always the Cheapest One.

Post Image

This following is an article by guest blogger, Aaaron Lipson of FounderPro about the perils of buying coverage based upon price considerations alone.  In the past we have spent much time blogging about quality of coverage.  Even our competitors often focus upon coverage over costs (even when we can point to coverage flaws in their […]

Read More

Professional Liability for CPAs Understanding your coverage – Part II – the declarations page

Post Image

By Rickard Jorgensen, FCII, ARM, ACIArb The Declarations Page The declarations page summarizes the coverage in an easy to read one or two page document.  It comprises: The preamble: Usually this is a statement about the basis of coverage which reiterates the wording that appears on the application and in the preamble of the policy.  […]

Read More

Professional Liability for CPAs – Understanding your coverage – Part I – the insurance application

Post Image

By Rickard Jorgensen, FCII, ARM, ACIArb This is the first of a series of 5 articles that together provide a good description of the underwriting process for accountants’ professional liability insurance and the coverage for CPA firms. ————————————————————— The insurance application is the primary document required by the insurer to “underwrite” a risk.  This underwriting […]

Read More

Coverage for independent subcontractors via the CPAGold™ program.

Post Image

By Rickard Jorgensen, FCII, ARM, ACIArb We recently received an inquiry from a CPAGold™ policyholder about whether there was coverage for subcontractors under the program.  Simply speaking there is but only in regard to services performed on behalf of the Named Insured. While it is prudent and good risk management to verify that any subcontractors […]

Read More

A cyber coverage “Fire Drill” – professional liability insurance implications of the CCH Axcess (Wolters Kluwer Tax & Accounting) malware attack.

Post Image

By Rickard Jorgensen, FCII, ARM, ACIArb Last Monday we received a flurry of frantic phone calls from clients about the denial of access to the CCH Axcess program.  On Monday May 6, between the hours of 8-10 a.m. E.T., accountants across the country started realizing their CCH products, which are based in the cloud, were […]

Read More

Private Company Management Liability Claims

Post Image

by Rickard Jorgensen, FCII, ARM, ACIArb We recently developed and filed a new endorsement for the CPAGold™ program which add coverage for Management Liability (otherwise known as Directors’ and Officers’ liability) claims.  Coverage is subject to a specific application and provides for defense and indemnification for a variety of scenarios arising from the management of […]

Read More

Management Liability for CPA firms

Post Image

by Rickard Jorgensen, FCII, ARM, ACIArb. Recently CPAGold™ added a new optional endorsement to the program which provides protection from management liability claims against the executive team of a CPA firm. Many professional partnerships now employ a more corporate, business-like style to firm management.  When a management or executive committee (or sometimes one individual) assumes […]

Read More