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 […]

Post Tagged with accountants professional liability, CPA claims, CPA firm mangement, D&O coverage, firm management liability, lawsuit, professional liability claims, risk management

Posted by jorgcpa
Posted in Claims, D&O, Management liability, policy wording, risk management, Uncategorized
Apr, 11, 2019
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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 […]

Post Tagged with accountants professional liability, corporate transaction, Cyber Liability, cyber security, Data breach, fraud, Information Security, Insider trading, mergers, professional liability, risk management, Seth L. Laver, social engineering

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
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Fraudulent Wire Transfers – the latest word

by Rickard Jorgensen, FCII, ARM, ACIArb. In the past few years we have seen quite a few of these costly and tragic situations and paid a number of claims made against our CPA firm and investment professionals clients. The essence is that a CPA or adviser (or Trustee) is induced by a trick, artifice or […]

Post Tagged with accountants professional liability, bad policies, claims, Cyber Liability, cyber security, fraud, Fraudulent Wire Trasnfers, risk management, social engineering

Posted by Rickard Jorgensen
Posted in coverage limitations, Cyber Liability, Cyber resources, Cyber risk management, Data protection, Fraud, Fraudulent Wire Transfers, Phishing scams, social engineering, Uncategorized
Feb, 08, 2019
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Using Indemnification Clauses to protect your firm

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 […]

Post Tagged with accountants professional liability, claims, engagement letters, errors and omissions, Fee disputes, indemnification clause, Limitation of Liability, professional liability claims, risk management, settlement negotiation

Posted by Rickard Jorgensen
Posted in Accountants' risk management, being sued, client communications, Client relations, due diligence, engagement letters, engagement letters, file documentation, indemnification clause, insurance, Mediation, risk management, settlement negotiation, Uncategorized
Jan, 28, 2019
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What is an Extended Reporting Period?

by Shirley Fraser, CPCU, AMIM. AVP – Jorgensen & Company Most Malpractice policies are written on a claims made and reported basis, which means all claims must be made against the policyholder and reported to the insurer during the policy period. Other than a mini-extended reporting period (usually for 60 days) there is no coverage […]

Post Tagged with accountants professional liability, comprehensive coverage, errors and omissions, extended reporting periods, lawsuit, prior acts, professional liability claims, Tails

Posted by Rickard Jorgensen
Posted in Accountants' professional liability insurance, Bad policies, being sued, Claims, Coverage, coverage limitations, Extended Reporting Periods, insurance, policy coverage, policy wording, prior acts coverage, professional liability claims, risk management, Tails, Uncategorized
Jan, 09, 2019
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How To Protect Your Accounting Firm From a Cyber Attack

By Nick Matarazzo A data breach can wreak havoc on your business and its reputation. Not to mention the fines incurred and countless hours you will spend reviewing your computers and the source of the threat. Research suggests that 90% of cyber attacks stem from a phishing or social engineering attack. Educate your employees about […]

Post Tagged with bad policies, cyber insurance, Cyber Liability, cyber security, Information Security, ransomeware, risk management, social engineering

Posted by jorgcpa
Posted in Cyber Liability, Cyber resources, Cyber risk management, Data protection, policy coverage, policy wording, risk management, security, sextortion, social engineering, social media, Uncategorized
Dec, 14, 2018
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California Privacy Laws (GDPR II)

By Rickard Jorgensen, FCII, ARM, ACIArb This past July we posted an article about the Europe’s Global Data Protection Regulation (GDPR) took effect in May 2018: Go here. The law informed businesses in Europe, or with European activities, of the rules regarding the collection, storage, and usage of personally identifiable information of consumers. The law […]

Posted by Rickard Jorgensen
Posted in Uncategorized
Nov, 27, 2018
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Are new statutory claims covered by your cyber policy?

by Rickard Jorgensen, FCII, ARM, ACIArb. In June 2018, California passed the most stringent data privacy law in the United States. Companies with business in California will likely have to request fundamental changes to their insurance programs to protect against the risks created by the statute. The California Consumer Privacy Act of 2018 ["CCPA"] forces […]

Posted by Rickard Jorgensen
Posted in Uncategorized
Nov, 27, 2018
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SOCIAL ENGINEERING/WIRE TRANSFER FRAUD – A NEW TWIST ON AN OLD SCAM.

by Rickard Jorgensen FCII, ARM, ACIArb. As we discussed in prior postings, social engineering is a major problem for CPAs. Go to: here for risk management advice and here for coverage details Social engineering is a deception to manipulate individuals into carrying out a particular act, such as transferring money, handing over confidential information or […]

Post Tagged with accountants professional liability, cyber insurance, Cyber Liability, errors and omissions, Information Security, malware, professional liability claims, ransomeware, risk management, social engineering

Posted by Rickard Jorgensen
Posted in Bad policies, Cyber Liability, Cyber resources, email risk management, Phishing scams, risk management, security, social engineering, Uncategorized
Nov, 13, 2018
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Cybercrime Uses Social Engineering Techniques to Steal Employee Credentials and Commit Payroll Diversion

By Rickard Jorgensen, FCII, ARM, ACIArb Recent developments clearly shows the urgent need for security awareness training. The FBI warned September 18, 2018 about new criminal campaigns that target the online payroll accounts of employees in a variety of industries. METHODOLOGIES “Cybercriminals target employees through phishing emails designed to capture an employee’s login credentials. Once […]

Post Tagged with accountants professional liability, comprehensive coverage, cyber insurance, Cyber Liability, cyber security, errors and omissions, Information Security, social engineering

Posted by Rickard Jorgensen
Posted in Cyber Liability, Cyber resources, Fraud, Phishing scams, social engineering, Uncategorized
Oct, 03, 2018
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Category Archives: Uncategorized

Private Company Management Liability Claims

Using Indemnification Clauses to protect your firm

What is an Extended Reporting Period?

California Privacy Laws (GDPR II)

Are new statutory claims covered by your cyber policy?

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