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Using Indemnification Clauses to protect your firm

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by Rickard Jorgensen, FCII, ARM, ACIArb All CPAs know that a signed engagement letter is a crucial tool in the defense of a professional negligence lawsuit. The engagement letter memorializes the terms of the engagement, details what services you are performing and more importantly, the services you are NOT offering (i.e. you will not detect […]

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Can a Single Lawsuit = Multiple Claims?

by Seth L. Laver, Michael P. Luongo and Michael T. Glascott Professional liability insurance is necessary to any responsibly-run professional practice. The limits of coverage available under an E&O policy help to protect professionals against financial loss.  However, the limits of coverage between different policies do not necessarily offer the same protection, even if the […]

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Road Map of a Malpractice Lawsuit

By Jason Subbie & Ralph Picardi, Esq. Litigation is a punishing marathon. The process exacts an exhausting toll on the parties.  A complex dispute can take several years from the date of the initial client dispute to the final verdict. And then, just when you think the dust has settled, there are almost always appeals. […]

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ADR Provision in Engagement Letters – a new approach

You may recall the blog posting about the Mediation Clause recommended by Ralph Picardi (go here for a link to the post). Recently certain firms have enjoyed success by augmenting this provision with a section step which essentially provides rules for the resolution of a claim or fee dispute by Arbitration.  While Arbitration as a process has limitations, […]

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Recent Cyber Related Media (and free CE courses)

In the past months we have seen a lot of articles in the Press and webinars about Cyber liability, net protection, information security and a variety of other terms for being robbed, hacked, extorted via the internet and compliance with State notification rules to clients about a security breach. There are many sources and the […]

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A Retrospective:

It’s been over a year and a half since we started posting blogs. I thought it would be helpful if this month we posted a list of the topics to allow our members to look at some of our past blogs. 10 “Get Out of Court Free” Cards – Segregation of risk in an accounting […]

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Example Of Mediation Provision For Engagement Letters

The wording of an Alternative Disputes Resolution clause in an engagement letter has been discussed on various occasions in the past.  Schools of thought have vacillated between a formal arbitration clause to a voluntary mediation clause. Ralph Picardi, Esq., the risk management consultant to the CPAGold program recommends the following language for a Mediation Clause: […]

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