SAN MATEO, Calif.--(BUSINESS WIRE)--CAMICO (www.camico.com), the nation’s largest CPA-owned and directed program of insurance and risk management for the accounting profession, posted total policyholders’ surplus of $43.5 million for the year ended December 31, 2019.
CAMICO’s policyholder retention rate for 2019 was 94 percent, and the company has continued to maintain key financial ratios at historically high levels for the past several years.
“CAMICO’s financial strength and high retention rate are achieved because of the unique partnership between CPAs and CAMICO, focused on CPA security and success,” said Andrew M. Eassa, CPA, CVA, CAMICO chairman of the board. “This partnership and mutual interest help keep the company on a positive trajectory year after year.”
CAMICO delivers insurance, risk management and related services to more than 8,000 CPA firms and 50,000 staff members in 46 states and the District of Columbia. Founded in 1986, CAMICO is endorsed by state CPA societies and associations in Alaska, Arizona, California, Colorado, Greater Washington D.C., Idaho, Indiana, Kansas, Mississippi, Missouri, Nevada, New Jersey, New York, Oregon, Tennessee, Utah, Virginia and Washington. CAMICO provides Professional Liability Insurance, Employment Practices Liability Insurance, and other insurance products needed by CPA firms.