CAMICO, the nation's largest CPA-directed program of insurance and risk management for the accounting profession, and Berkley Design Professional Underwriters (BDP), a W.R. Berkley Company, have recently forged a new program to service CPA firms nationally.The program will further strengthen and expand CAMICO's capacity for providing coverage and risk management services, especially to larger CPA firms. Firms will continue to have direct access to the comprehensive range of CAMICO's advisory, loss prevention, and claims services and resources. In addition, CAMICO will now be able to offer Accountants Professional Liability coverage with limits of up to $15 million.
This new program will be administered through CAMICO's wholly owned subsidiary, CAMICO Insurance Services (CIS). It will focus primarily on policies with limits of $3 million and higher and will be underwritten by BDP, on behalf of W. R. Berkley Insurance Group member companies, rated A+ (Superior) Financial Size Category XV by A.M. Best Company.
"CAMICO's market position and specialized expertise in the accounting profession, combined with W. R. Berkley Insurance Group's financial strength and capacity, give us an exciting opportunity to provide mid-size and larger CPA firms with the best program available," said Ric Rosario, CPA, CAMICO CEO.
The CAMICO-BDP program will help protect CPA firms against malpractice claims and damages from errors committed while providing professional services. It will operate in 45 states and the District of Columbia.
"The program enables policyholders to benefit from our expertise in professional liability along with the CAMICO services that CPAs have come to rely on for their day-to-day practice needs," said Stephen L. Porcelli, president of Berkley Design Professional Underwriters.
"The combination of the strength, resources and expertise of our two organizations in this program enables us to effectively respond to the needs policyholders may have now and in the future," said W. Robert Berkley, Jr., president and chief operating officer of W. R. Berkley Corporation. "We believe CPAs will find this to be a highly attractive offering."
About CAMICO and CIS
CAMICO delivers insurance, risk management and related services to more than 8,100 CPA firms and 53,000 staff members in 45 states and the District of Columbia. The CAMICO program is sponsored by state CPA societies and associations in Arizona, California, Colorado, Greater Washington D.C., Indiana, Kansas, Mississippi, Missouri, Nevada, New Jersey, New York, South Carolina, Tennessee, Utah, Virginia and Washington. CAMICO provides Professional Liability Insurance, Employment Practices Liability Insurance, Business Owners Package, Workers' Compensation, Personal Umbrella and other insurance products needed by CPA firms. CAMICO Services, Inc., d.b.a. CAMICO Insurance Services (CIS), is licensed as an insurance producer in all states in which CAMICO operates.
About W. R. Berkley Corporation and Berkley Design Professional Underwriters (BDP)
W. R. Berkley Corporation, founded in 1967, is one of the nation's premier commercial lines property casualty insurance providers. Berkley's competitive advantage lies in its long-term strategy of decentralized operations, allowing each of its units to identify and respond quickly and effectively to changing market conditions and local customer needs. Berkley Design Professionals Underwriters is a recently formed unit of W.R. Berkley Corporation with over 100 years of combined experience in professional liability products, loss prevention and risk management services.