Click Here for a free estimate!

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

Tag Archives: professional liability claims

Embezzlement 101

Post Image

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 […]

Read More

Up in Smoke III – The SAFE Banking Act is Major Step Towards Access to Banks and Credit Unions (and Service Providers) for Legalized Cannabis Industry

Post Image

By Rickard Jorgensen, FCII, ARM, ACIArb This past month the majority of Democratic and ninety-one Republican members of the House of Representatives passed the landmark Secure and Fair Enforcement Banking Act of 2019, commonly known as the SAFE Banking Act. This law has been in development for six years and is intended to reduce the […]

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

Minimizing the risk of malpractice claims from lateral hires

Post Image

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 […]

Read More

Professional Liability for CPAs – Understanding your coverage – Part III – the coverage grant

Post Image

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 […]

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 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

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

Limiting Malpractice through Scope of Engagement

Post Image

by guest bloggers Jennifer H. Feldscher and Seth L. Laver. A recent NY Appellate Division decision serves as another reminder of the importance of carefully defining the scope of engagement in an engagement letter. This is because, under New York law, an attorney may not be held liable for failing to act outside the scope […]

Read More