CAMICO Launches Cyber Risk Program for CPA Firms

CAMICO, a nationwide CPA-directed program of insurance and risk management for the accounting profession, has announced CyberCPA to further protect CPA firms from losses caused by a variety of cyber risk exposures.

CyberCPA provides first-party coverage for expenses incurred by a firm due to damage, alteration, corruption, theft, misuse or destruction of electronic data, or a total or partial interruption, degradation in service, or failure of its computer network (including non-physical business interruption) because of administrative or operational mistakes by employees or third-party service providers or cyber attacks.

CyberCPA also provides coverage for expenses incurred in response to a privacy breach, cyber extortion, or cyber terrorism. The coverage is available with CAMICO Mutual Insurance Company’s professional liability insurance policy.

Comprehensive breach response services throughout the entire response process are included with CyberCPA. Legal counsel, IT security and forensic expertise, breach notification to clients, public relations/advertising support for reputational protection, credit monitoring, and identity theft education and assistance are also included.

Cyber and data security risk management advice, tools, articles and resources are also offered to help firms address the risks and regulatory requirements they face. The tools and resources help prevent incidents and better prepare firms in the event an incident does occur.

“Many CPA firms need specialized coverage, services and resources for cyber security and privacy breach exposures,” said Ric Rosario, CPA, CAMICO CEO. “CyberCPA stays closely in step with the needs of CPAs by further enhancing the way we address and manage those exposures.”

CyberCPA is available in all states where CAMICO does business and will be available in Illinois, New Hampshire, North Dakota, South Carolina, and Virginia on Nov. 1, 2015, and in Connecticut and Washington on Dec. 1, 2015. CyberCPA is a pending CAMICO service mark (SM).

Topics Cyber New Markets