McGowanPRO Professional Liability Blog / Resources / Articles

Beazley, a specialty insurer with whom many NAPLIA clients have cyber insurance policies has written this high quality overview of ransomware.  We share it with you below and encourage you to call us with any questions.  

Ransomware is a type of malicious software that restricts access to an infected machine, typically via systematically encrypting files on the system’s hard drive, and then demands payment of a ransom, usually in a crypto-currency (e.g., Bitcoin), in exchange for the key to decrypt the data.  

Read the whitepaper for:  

• Examples of notable randomware software
• Tips to prevent a ransomware infection
• Tips on responding to a ransomware infection
• Paying the ransomware: yes or no?

Read the full whitepaper

NAPLIA's Director of Risk Management, John Raspante, was interviewed by Accounting Today.  In this video he discusses how to pick better clients by screening prospects who could represent potential liability risks for your firm.

Accounting Today interviewed John Raspante, Director of Risk Management at NAPLIA for this video about how accountants can protect themselves from malpractice claims.  His advice includes client screening and maintaining CPE credits.  

John Raspante, NAPLIA's Director of Risk Management, was interviewed by Accounting Today on the topic of why failure to detect fraud is a common malpractice claim in lawsuits against accountants and how to protect your firm.

For Immediate Release

April 4, 2016

Framingham, MA - North American Professional Liability Insurance Agency, LLC (NAPLIA) is pleased to announce that CEO, Gary Sutherland, CIC MLIS, and Senior Vice President, Paul Smith, AIF, will be panellists in a presentation titled “What You Need to Know About Cybersecurity” at the fi360 conference in San Diego, California on April 7, 2016.

The Cybersecurity panel presentation will discuss current best in class breach prevention tools and procedures, how to prepare for an OCIE Examination with a focus on Cyber and Privacy Liability prevention, and how insurance can be used as a defense of last resort.  Additional topics include why Cybersecurity matters, what firm leaders need to know about preventing a breach, and how to prevent a breach from shutting down your firm for good.

 “It is an honor to share our expertise in Cybersecurity at the fi360 conference, which attracts 600 financial services industry leaders.  Cybersecurity is a hot topic because it has so many facets and it can be devastating for affected firms. “ says Gary Sutherland, CEO, NAPLIA. 

The third panelist in the Cybersecurity panel presentation is Brian Edelman, CEO, Financial Computer, Inc.  The panel will be moderated by Tom Schrandt, AIF®, Vice President, Lockton Affinity, LLC.

NAPLIA has specialized in providing Fiduciary Liability Insurance to Plan Sponsors since 1998, in concert with Professional Liability, (errors & omissions) and related insurance products for Accountants, Investment Advisors, Attorneys, and other professionals. No other national agency can match our personal service and expertise in the risks associated with operating under ERISA; and no other independent agency can match our national recognition for excellence in the Qualified Plan and Investment Advisory insurance and bonding space.  Learn more at naplia.com. 

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NAPLIA's Stephen Vono was interviewed by Accounting Today for a video on cyber security for CPA firms.  His message - you have a target on your back!

Let's say you're searching a topic online.  When you website that appears to have the answers or products you are looking for, you then look for contact information - you know simple stuff like where are they located? Who are they? Maybe a phone number or e-mail? 

But what you find it is a vanilla form to send in your question or comment. Believe it or not, you cannot find a person or physical address, and I have to ask the question “why?".

One obvious answer is that the company is trying to avoid SPAM.  If you have a direct link to your email on your website then you can expect to get some SPAM.  For me, I would much rather deal with some SPAM and know that a potential client can contact me.

Websites are about first impressions and I want my first impression to strongly indicate that I want people to contact me by either phone or email any time they have a question and think I could help.

"Ultimately, your customers are human, not virtual, so make sure your contact details are clearly visible on every page of your website.” - Abidemi Sanusi is the founder of Ready Writer Copywriting

John Raspante of NAPLIA explains how engagement letters can market additional services, limit liability, and help with dispute resolution.

Watch the video on the Accounting Today website.

Visit engagementletters.com for sample CPA firm engagement letters.

John Raspante, Director of Risk Management, NAPLIA was interviewed by Accounting Today on the malpractice risk areas for CPA firms.  Areas discussed include: Affordable Care Act, FATCA, SSARS 21 and the overturning of the Defense of Marriage Act.

 "Not if, but when" John warns.

Watch the video on the Accounting Today website.