GAQC Alert No. 45 


    Savings on Professional Liability Insurance for GAQC Member

    DEAR CENTER MEMBERS

    The AICPA Governmental Audit Quality Center is pleased to offer a new benefit to Center members in recognition of your commitment to performing quality audits. The AICPA Professional Liability Insurance Program will award a new premium credit to firms that are members of the Center.

    Aon Insurance Services*, CNA**, and the AICPA have joined forces to offer firms a 5% premium credit for membership in either the GAQC or the Employee Benefit Plan Audit Quality Center (EBPAQC). Firms who are members of both Audit Quality Centers will receive up to a 10% premium credit (maximum amount of the credits is $400 per policy).

    Applications for the AICPA Professional Liability Insurance Program now include a check box for GAQC and EBPAQC members. If you are currently insured in the Program, simply check the appropriate box on your renewal application and the premium credit will be awarded at your annual renewal. New applicants who indicate that they are members of one or both of the Centers will receive the premium credit as of the policy’s effective date.

    For more information about the Premium Credit Program, visit http://www.cpai.com/.

    *Aon Insurance Services is a division of Affinity Insurance Services, Inc.: in CA, MN & OK, (CA Insurance License #0795465) Aon Insurance Services is a Division of AIS Affinity Insurance Agency, Inc.; and in NH & NY is a Division of AIS Affinity Insurance Agency.

    **One or more of the CNA companies provide the products and/or services described. The information is intended to present a general overview for illustrative purposes only. It is not intended to constitute a binding contract. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products and services may not be available in all states. CNA is a service mark registered with the United States Patent and Trademark Office. Copyright © 2007 CNA. All rights reserved.

    Sincerely,

    Amanda Nelson, CPA
    Chair

    GAQC Executive Committee

    Mary M. Foelster, CPA
    Director
    AICPA Governmental Auditing and Accounting

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    STAY INFORMED

    As a member of the Center, your firm will receive periodic updates on important developments related to governmental audits, as well as the activities of the Center. To stay abreast of these and other relevant events, please visit the Center Web site at gaqc.aicpa.org. Also, we welcome any suggestions or questions. Please send them by e-mail to GAQC@aicpa.org.

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    Members of the Governmental Audit Quality Center (GAQC) may only reproduce and distribute GAQC e-alerts internally within a firm to other Center member firm personnel as part of the firm's professional services. For information about permission to copy any part of these documents for redistribution or inclusion in other work, please click on the copyright notice at the bottom of the page or phone the AICPA copyright permission hotline (201) 938-3245.

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