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August 2000
Camico Board Welcomes Society RepresentativeBy Danielle D'Angelo NYSSCPA Counsel James A. Woehlke attended the Camico board of directors May 8-9 meeting as a guest, substituting for Louis Grassi, who chairs the Society's Professional Liability Task Force and was recently appointed by the NYSSCPA board of directors as its representative to the Camico board. The Camico board, the majority of whom are comprised primarily of CPAs insured with the company, is responsible for making policy decisions in the interests of all policyholders. The board seeks direct input from its policyholders and professional CPA societies and associations and, in keeping with this philosophy, invites an NYSSCPA representative to its meetings. Board involvement was an integral part of the agreement reached between the Society and Camico before the Society finalized its endorsement of the professional liability insurance company. It is anticipated that as the policyholder base grows in New York state, the NYSSCPA representative will become an official Camico board member. The NYSSCPA is the largest state society to endorse Camico. Other endorsing state societies are Arizona, California, Colorado, Nevada, and Washington. Representatives from (Design Professionals Insurance Co. (DPIC) also attended the May meeting, as Camico is in the process of acquiring DPIC's accountant's professional liability business. "Camico is looking to the advice and input from New York and from the DPIC policyholders to maintain a high level of service to these firms," said Camico Chairman Louis J. Barbich, who is also a practicing CPA. Other issues discussed at the board meeting included approval of the following changes to Camico's policy form:
The Camico board meets three times a year. The next meeting will be held September 14--15. Watch The Trusted Professional for coverage of pertinent issues.
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