CAMICO

What CAMICO does

CAMICO Mutual Insurance Company is a CPA-owned mutual insurance carrier founded in 1986 in California by a group of CPAs in response to a hardening professional liability market, and is now headquartered in Redwood City/San Mateo, California. The company writes Accountants Professional Liability (APL) insurance as its core product — claims-made-and-reported policies with limits up to $2 million underwritten by CAMICO Mutual directly and limits up to $15 million placed through the CAMICO-Berkley Program (Berkley Alliance Managers, a W.R. Berkley Corporation company). It serves more than 8,000 CPA firm policyholders across all 50 U.S. states and the District of Columbia (NAIC #36340) and is rated A- (Excellent) by A.M. Best as of July 2024.

Beyond APL, CAMICO operates a multi-line platform that bundles Employment Practices Liability, CyberCPA cyber liability (by endorsement or stand-alone), Workers' Compensation (underwritten by The Hartford), and a Business Owners Package, all placed through its wholly owned agency, CAMICO Services, Inc. Every policy carries a bundled risk-management services stack: a 24-7-365 Members-Only Site portal, unlimited in-house Loss Prevention advice hotlines (staffed by CPAs averaging 25+ years' experience), proactive claims handling and subpoena services, NASBA-accredited CPE via a Thomson Reuters-hosted Learning Center (~20 free CPE credits per year), an engagement letter library and review service, and a Speakers Bureau. Distribution is sales-led through direct account executives, with online eBusiness quoting available for smaller CPA firms (up to 3 CPAs/non-CPA professionals and $500,000 or less in revenues).

The business model is recurring annual premiums on a mutual ownership basis, with revenue derived primarily from subscription/recurring insurance premium streams across the multi-line book plus investment income on float; pricing is quote-based and not publicly disclosed. Operationally, CAMICO deployed Pibit.AI's CURE™ AI-driven underwriting platform in June 2026 to modernize submission decisioning across its 8,000-firm book, reporting 99.9% claimed precision. The company is led by President & CEO Michael A. Ray (since January 2025) with Ric Rosario as Chairman, and is celebrating its 40th anniversary in 2026.

Name

CAMICO

Legal name

CAMICO Mutual Insurance Company

Website

https://camico.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

51–100 employees

Short description

CAMICO is a CPA-owned mutual insurance company founded in 1986 that underwrites Accountants Professional Liability and multi-line coverages (EPL, CyberCPA, Workers' Comp, BOP) for more than 8,000 U.S. CPA firms, bundled with in-house loss-prevention, claims, CPE, and risk-management member services.

Ownership category

akta.pro rank

Product category

CPA Professional Liability Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Insurance Carriers, Nec (6399)

akta.pro primary industry

Commercial Package / Business Owners Policies (BOP) (FSAJAMAG)

Keywords

• Professional liability insurance
• CPA accountants insurance
• Employment practices liability
• Cyber liability coverage
• Risk management services

Headquarters

HQ city

Redwood City

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others, Marketing or Sales

Revenue model

1. Professional Liability Insurance Premiums: Core recurring revenue stream from CPA Accountants Professional Liability Insurance (claims-made and reported policies) issued primarily by CAMICO Mutual Insurance Company for limits of $2 million or less, and through the CAMICO-Berkley Program (Berkley Alliance Managers, a W.R. Berkley Corporation company) for higher limits. Per-claim limits up to $15 million available. Policy includes potential claims expenses not charged against deductible or limit, 50% deductible reduction (up to $50,000) for early reporting, and a $100,000 sub-limit grace-period provision.
2. Employment Practices Liability Insurance Premiums: Recurring EPL premiums covering discrimination, wrongful termination, sexual harassment, retaliation, and third-party claims, with limits up to $1 million and coverage for full-time, part-time, contract workers, and independent contractors. Includes unlimited telephone/email consulting services, an Employer Resource Center, employee handbook builder, and harassment-prevention training.
3. Cyber Liability (CyberCPA) Insurance Premiums: Recurring premiums for CyberCPA coverage (by endorsement of Professional Liability policies) covering privacy breach response, network asset protection, cyber extortion, cyber terrorism, and stand-alone cyber coverage for higher limits. Includes IT security/forensic experts, media relations, breach notification, credit monitoring, and identity theft assistance.
4. Workers' Compensation and Business Owners Package Premiums: Workers' Compensation policies (underwritten by The Hartford group of companies and other underwriters) with Basic and Extended Broad Form Endorsements, Pay-As-You-Go billing, statutory limits and employer's liability up to $1 million; Business Owners Package (BOP) combining general liability and business property at limits of $1M/$2M and $2M/$4M with optional Business Interruption, Employee Dishonesty/ERISA, and Auto coverage. Placed through CAMICO's wholly owned agency.
5. Members-Only Site and Risk Management Services (bundled with policies): No-additional-cost benefits bundled with PLI/EPL policies including unlimited advice hotlines, free NASBA-accredited CPE, 150+ sample engagement letters, Members-Only Site with Knowledge Tree and Resource Centers, eAlerts, and engagement letter review services. Acts as a retention/loyalty driver supporting the renewal economics of the premium streams.

Pricing tiers

Go-to-market motion1 record

Core offering

CAMICO provides Accountants Professional Liability (claims-made) insurance and complementary coverages—Employment Practices Liability, CyberCPA, Workers' Compensation, and Business Owners Package—to CPA firms in the U.S., underwritten by CAMICO Mutual Insurance Company and via the CAMICO-Berkley Program. Every policy bundles a suite of member benefits: unlimited Loss Prevention advice hotlines staffed by CPA specialists, a Members-Only Site with 150+ engagement letter templates and Resource Centers, NASBA-accredited CPE through a Thomson Reuters-hosted Learning Center, proactive Claims Guidance including subpoena services, and a published engagement-letters book.

Product overview

CAMICO's offering is a platform-plus-modules architecture centered on a Professional Liability Insurance (PLI) core product for CPA firms, supplemented by named modules (Employment Practices Liability, CyberCPA Coverage, Workers' Compensation, Business Owners Package) and a complementary higher-limit underwriting channel (the CAMICO-Berkley Program for limits > $2M). Layered onto every policy is a unified suite of member services — the Members-Only Site web portal, Loss Prevention Advice Hotlines, Claims Guidance, Education and Training (CPE), the Engagement Letters Resource Center, and the Speaking Topics / Speakers Bureau — all included with the policy. Operationally, CAMICO deployed Pibit.AI's CURE™ AI underwriting platform to streamline submission decisioning across its PLI book. Together these products form CAMICO's CPA-focused insurance and risk management program covering ~8,000 CPA firm policyholders in the U.S.

Differentiator

Problem solved

Functional benefit

Brands

• CyberCPA: Cyber liability insurance coverage specifically tailored to the needs of CPA firms, available to CAMICO Mutual Professional Liability policyholders; includes Breach Response Services and first-party coverages such as Privacy Breach Response Costs, Network Asset Protection, Cyber Extortion and Cyber Terrorism.
• CAMICO-Berkley Program (BAM)

Products and services

• Professional Liability Insurance (Accountants Professional Liability / PLI) Claims-made-and-reported professional liability insurance covering CPA firms for damages arising from acts, errors, or omissions in the rendering of professional services. Limits up to $15 million per claim (underwritten by CAMICO Mutual for limits up to $2M and by the CAMICO-Berkley Program for higher limits), with broad definition of professional services, prior acts coverage, cyber coverage by endorsement, and bundled unlimited in-house risk management advice.
• Employment Practices Liability Insurance (EPL)

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability6 records

Feature6 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Travelers: Travelers is a major U.S. P&C insurer with a management and professional liability practice that includes accountants professional liability, EPL, cyber, and BOP. It serves a similar small-to-mid CPA firm segment as CAMICO and competes on bundled coverage and price.
• Hiscox: Hiscox is a specialty insurer with a dedicated U.S. professional liability practice serving accountants, consultants, and other professionals. It competes with CAMICO for mid-market CPA firm PLI accounts and offers comparable cyber and EPL coverages, making it a broad incumbent in CAMICO's core market.
• Beazley: Beazley is a London-listed specialty insurer with a significant U.S. professional liability and cyber liability franchise. It writes accountants professional liability and is one of the most active cyber liability markets, directly overlapping with CAMICO's CyberCPA and PLI offerings for CPA firms.
• AXA XL: AXA XL is a major global specialty insurer with a U.S. professional liability practice covering accountants and other professional services firms. It competes with CAMICO at the upper end of the CPA market (larger firms needing higher limits) and offers similar cyber and management liability coverages.
• Chubb: Chubb is one of the largest U.S. professional liability insurers with accountants and professional services offerings targeting mid-to-large firms. It overlaps with CAMICO at the higher premium end and bundles similar cyber and EPL coverages to professional services clients.
• Markel Group: Markel is a specialty insurer with a professional liability practice serving accountants, consultants, and other professional services firms. It competes with CAMICO for mid-market CPA firm accounts and offers comparable cyber and management liability solutions.
• CNA Financial: CNA Financial has a long-standing professional liability franchise targeting accountants, lawyers, and other professionals. It competes with CAMICO for mid-to-large CPA firm accounts and offers a broad package of professional and management liability coverages similar in scope to CAMICO's PLI/EPL/CyberCPA bundle.

Direct peers

• The Hartford: The Hartford underwrites CAMICO's Workers' Compensation program through CAMICO's wholly owned agency. It is also a broader P&C and small-commercial insurer that sells professional liability and BOP products in adjacent segments to CAMICO's policyholders.
• AICPA Professional Liability Program: The AICPA-sponsored professional liability insurance program historically offered accountants PLI through third-party carriers and remains a comparable membership-affiliated insurance offering for CPA firms. CAMICO competes directly with this channel for member-owned mutual positioning and CPA-centric service bundling.
• W. R. Berkley Corporation: W.R. Berkley Corporation is CAMICO's underwriting partner for higher-limit Accountants Professional Liability via the CAMICO-Berkley Program (administered by Berkley Alliance Managers). While Berkley is a much larger specialty insurer, the partnership places it in direct distribution alignment with CAMICO for CPA accounts requiring limits above $2M.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/CAMICO_for_CPAs
• YouTubeyoutube.com/@CAMICOInsurance
• Facebookfacebook.com/camicomutualinsurance
• LinkedInlinkedin.com/company/camico-mutual-insurance-company

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CAMICO