PAUL HERTEL & ASSOC., LLC
PAUL HERTEL & ASSOC., LLC
Professional Liability Insurance & Risk Management
Accountants & Lawyers
A CPA Insurance & Risk Management Specialist
Paul Hertel has been representing accountants since 1995. Paul has insured many of the the area's largest regional CPA firms over the years. In addition to placing professional liability insurance, Paul has conducted more than 250 "in firm" CPE Malpractice Avoidance seminars for clients.
Paul has a 23 year history representing CAMICO, the nation’s largest CPA directed professional liability insurance company. While many other carriers move in and out of the CPA market during difficult times, CAMICO has been a stable market player for more than 35 years. CAMICO is endorsed by 18 state societies, including NJ and NY and insures more than 8,000 firms.
CAMICO Testimonials
Louis Barbich, CPA
Barbich, Hooper, King, Dill, Hoffman
Bakersfield, CA
8 Partners, Top 150 Firm in CA
(Former CAMICO Chairman and a Current & Founding Policyholder)
State Societies Endorse CAMICO
NY NJ VA TN CA WA AZ CO IN ID KS MO MS NV OR UA AK Wash DC
Managed by CPAs
for CPAs
CAMICO Leadership & History
CAMICO was founded with the help of the CA Society of CPAs in 1986 during that period's "liability crisis". "Managed by CPAs for CPAs", the company is now the largest CPA directed insurance company in the United States, insuring more than 8,000 policyholders.
Because of it's unique start, CAMICO has placed a significant amount of emphasis on CPA Risk Management, and is considered the pioneer and leader in this area. Many insurance companies claim to provide extensive risk management services along with their insurance policies, but CAMICO not only "talks the talk", but "walks the walk".
CAMICO Advice Hotline
"Call Early, Call Often"
CAMICO is serious about preventing claims. Part of the CAMICO RIsk Management Program is the Advice Hotline. This hotline is staffed by in-house CPAs and lawyers, not outsourced to a law firm, like most insurance "hotlines".
CAMICO loss prevention specialists have an average of 20 years experience in risk management and over 25 years of experience in public and private practice. These specialists are professional liability and public accounting professionals with the knowledge, skill and commitment to help CPAs with practice and risk management issues. CAMICO handles more than 7,000 calls every year.
... And there is NO PENTALTY to call. In fact, the more you call, the more CAMICO views you as a "safer risk".
Loss Prevention is NOT
a Department
At CAMICO, loss prevention is not a department - it is a "Philosophy".
How CAMICO can Prevent a Claim
CAMICO will aggressively defend claims against policyholders, often in order to set precedent to help avoid future claims of a similar nature. But true victory comes by preventing claims from happening in the first place.
Claims the CAMICO Way
CAMICO believes a good offense starts with a good defense. By incentivizing policyholders to contact CAMICO early when problems or questions arise, CAMICO can help minimize the damage.
Insurance Does NOT
Cover All Risks
CAMICO has one of the broadest policies in the market. However, when purchasing insurance, most CPAs only look at the premium. To understand the "total annual cost" of professional liability risk, you must also consider the "uncovered costs" in addition to the annual premium. When embroiled in a malpractice claim, there are many "costs" that are not covered by your policy which can pale in comparison to premium.
Your Annual Premium
is only the
FIRST "Cost"
If you have a claim, there are
many other potential
"uncovered costs"
CAMICO Helps Reduce
The "Total Cost"
of Professional Liability Risk
Risk Management resources and financial incentives are designed to educate and encourage policyholders to call EARLY with questions, concerns or worse! Avoiding and minimizing claims is the only way to reduce "uncovered costs". If CAMICO can help a policyholder do this, everyone wins!
Advice & Education
-
Live In-Firm CPE Loss Prevention Seminars for larger audiences (no cost)
​
- Advice Hotline (no cost - unlimited use)
​
- Extensive On-Line Risk Management Resources (no cost - unlimited use)
​
- Extensive On-Line CPE Loss Prevention Courses (no cost - unlimited use)
​
- Live CPE Loss Prevention Webinars (no cost - unlimited use)
Broad Policy Terms
& Financial Incentives
​
-
Prior Knowledge Continuity Date adds protection for failing to report claims
- Pre-Claim Reporting Incentive: Deductible reduced 50% (max $50k) if situation reported before turning into a claim
- Pre-Claim Expenses: NO charge to deductible for "pre-claim" expenses, including outside legal fees
- Engagement Letter Credit: Deductible reduced by 50% (max $50k) if you used a signed engagement letter within the last year (this includes ATTEST Services which is broader than other carriers) - This feature applies only to the CAMICO/WR Berkley program.
- Mediation Credit: Deductible reduced by 50% (max $50k) after "SEEKING" to use mediation
- Subpoena Expenses: NO charge to deductible for subpoena legal expenses
- Loss of Earnings: Coverage includes $500/day, $10,000 max
- Regulatory Expense coverage
- Innocent Insured Coverage: Broader coverage which includes "concealment" (unless by a "Principal" Insured)
- Late Reporting Feature: Adds some protection for claim reporting oversights
- "Soft" Hammer Clause
- Limited "Crisis Management" coverage
- Optional "Suit for Fees" exclusion: Can add to policy for 5% premium discount