SAN MATEO, Calif.--(BUSINESS WIRE)--CAMICO (www.camico.com), the nation’s largest CPA-directed program of insurance and risk management for the accounting profession, earned $1.5 million in net income and posted a gain in policyholders’ surplus for the year ended December 31, 2014.
Total CAMICO policyholders’ surplus for 2014 was $39.2 million, up from the $38.5 million posted in 2013.
The year 2014 marks the fifth straight year of gains in policyholders’ surplus and net income for CAMICO. The policyholder retention rate for 2014 was 93.9 percent, consistent with an annual policyholder retention rate of more than 92 percent for the past 20 years.
The company’s results are detailed in its 2014 Operations Report, which has been posted online at www.camico.com along with 2014 audited financial statements.
“CPAs respond to an insurance and risk management program that is aligned with their interests and builds long-term value for them,” said Robert P. Evans, CPA, CISA, CAMICO chairman of the board. “CAMICO’s steady growth is due in part to that alignment, and the company is well positioned to continue these positive trends for many more years ahead.”
About CAMICO
CAMICO delivers insurance, risk management and related services to more than 8,400 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.
