The Coronavirus Aid, Relief, and Economic Security (CARES) Act – Good Faith Certification

By Rickard Jorgensen, FCII, ARM, ACIArb The Coronavirus Aid, Relief, and Economic Security (CARES) Act recently signed into law contains an important provision known as the Paycheck Protection Program (PPP) designed to provide relief to small businesses affected by the coronavirus pandemic. The PPP directs $349 billion towards job retention and business operating expenses designed […]
- Posted by
jorgcpa
- Posted in Accountants' risk management, Comprenhensive coverage, COVID, engagement letters, engagement letters, indemnification clause, policy coverage, policy wording, professional liability claims, Professional Services, Ralph G. Picardi, risk management, SBA loans, Statutes of Limitation, Uncategorized, Utmost good faith
Apr, 03, 2020
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Embezzlement 101

By Rickard Jorgensen, FCII, ARM, ACIArb This month we thought you might find an article about employee theft from the perspective of the crime insurer, Hiscox Insurance. If you were to ask a group of business owners about the biggest risks they face, you’d probably get a lot of different answers. Some might say external […]
- Posted by
Rickard Jorgensen
- Posted in Crime coverage, criminal behaviour, Defalcation, embezzlement, Fraud, policy wording, professional liability claims, Uncategorized
Nov, 05, 2019
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Professional Liability for CPAs – Understanding your coverage – Part IV – Exclusions

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 […]
- Posted by
jorgcpa
- Posted in Bad policies, coverage limitations, due diligence, exclusion, Fraud, Uncategorized
Sep, 09, 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 […]
Coverage for independent subcontractors via the CPAGold™ program.

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 […]
- Posted by
jorgcpa
- Posted in Accountants' professional liability insurance, indemnification clause, insurance, policy coverage, policy wording, subcontractors
May, 13, 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 adds 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
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Management Liability for CPA firms

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 […]
- Posted by
jorgcpa
- Posted in Accountants' professional liability insurance, Comprenhensive coverage, Corporate Indemnification, D&O, Management liability, policy coverage, policy wording
Apr, 11, 2019
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