Click Example Disengagement letters
In a recent posting on the CPAFMA website there was a request for a specific template for client disengagement letter. You may recall we blogged about the topic of client disengagement in 2018 (Go here). The following are two suggested templates for disengagement letters: a relative simple version aimed at individual clients from the AICPA […]
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jorgcpa - Posted in Accountants' professional liability insurance, Accountants' risk management, Disengagement, Disengagement letter, letter template, risk management, Uncategorized
Jan, 13, 2020
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Security Policy for CPA firms – a template
We have received several enquiries from members of the CPAGold™ program for help with a suggested wording for a Cyber Security Policy as required by the IRS rules. As you will be aware, there is a lot of information available about this topic. One of the best white papers is Small Business Information Security: The […]
- Posted by jorgcpa
- Posted in Accountants' professional liability insurance, Cyber Liability, Cyber resources, Cyber risk management, data breach, Data protection, email risk management, IRS cyber rules, Phishing scams, Privacy, risk management, security, Security policy, social engineering, social media, Uncategorized
- Jan, 13, 2020
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Outsourcing – malpractice risk management perils concerning subcontractor’s indemnification provisions.
by Rickard Jorgensen, FCII, ARM, ACIArb. We have received several inquiries from CPAGold™ members about QBE’s coverage position when it comes to the use of sub-contractors for the provision of professional services to clients. The CPAGold™ policy is comprehensive and contains a broad definition of who is covered via DEFINITIONS 8,28 wherein its states: 8.28 […]
- Posted by jorgcpa
- Posted in Accountants' professional liability insurance, Accountants' risk management, Client relations, indemnification agreements, indemnification clause, insurance, lawsuit, policy coverage, policy wording, professional liability claims, risk management, subcontractors, Tax Services, Uncategorized
- Dec, 15, 2019
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Minimizing the risk of malpractice claims from lateral hires
By Rickard Jorgensen, FCII, ARM, ACIArb Many accounting firms have aggressive plans to build their practices and expand the range of services available to clients. Growth strategy is often comprises of several elements: Organic growth is the simplest and arises from marketing, business and employee development and cross selling services to clients. Mergers and acquisition […]
Professional Liability for CPAs – Understanding your coverage – Part III – the coverage grant
By Rickard Jorgensen, FCII, ARM, ACIArb Each insurer’s policy is arranged differently, and the items listed above can be located in different places and with different headings in each policy. However, by reading the explanations below, you should be able to locate them no matter where they are found within a policy. 1. Coverage Agreements […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Bad policies, coverage limitations, definiti0on of professional services, definition of professional services, due diligence, insurance, policy coverage, policy wording, risk management, Uncategorized
- Aug, 12, 2019
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Equifax breach settlement
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 […]
- Posted by jorgcpa
- Posted in Cyber Liability, Cyber resources, Cyber risk management, data breach, Data protection, equifax, Phishing scams, professional liability claims, risk management, security, Uncategorized
- Jul, 22, 2019
- No Comments.
Professional Liability for CPAs Understanding your coverage – Part II – the declarations page
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. […]
- Posted by jorgcpa
- Posted in Accountants' professional liability insurance, Accountants' risk management, Bad policies, checklist, Comprenhensive coverage, coverage limitations, Declarations page, definition of professional services, professional liability claims, risk management
- Jul, 10, 2019
- 1 Comment.
Gotcha! Three cyber policy traps to look out for (and a postcript to the CCH hack)
The following is an article published by CFC Underwriting, a leading cyber insurer based in London. The original article appears here. ——————————————————————————————————————— Cyber insurance is projected to experience major growth in the years ahead and new insurers are regularly entering the market. While this is creating greater competition and providing more choice for customers, some insurers […]
- Posted by Rickard Jorgensen
- Posted in Comprenhensive coverage, Cyber Liability, Cyber resources, due diligence, email risk management, Fraudulent Wire Transfers, insurance, Phishing scams, policy coverage, policy wording, risk management, Uncategorized
- Jun, 04, 2019
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Private Company Management Liability Claims
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 […]
- Posted by jorgcpa
- Posted in Claims, D&O, Management liability, policy wording, risk management, Uncategorized
- Apr, 11, 2019
- No Comments.
Data Breach and Insider Trading
CPAs practicing in mergers and acquisitions are familiar with the sensitive nature of their work and the potential for abuse of the information obtained. In addition to the conflict of interest created by trading on that information themselves, they must take extensive precautions to ensure that they do not allow that information to slip to […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Client records, Client relations, Cyber Liability, Cyber resources, Cyber risk management, Data protection, Fraudulent Wire Transfers, policy coverage, risk management, security, Uncategorized
- Mar, 11, 2019
- No Comments.
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