DPIC to Transfer Accountants Product Management to CAMICO Mutual

DPIC Companies, Monterey, CA, and CAMICO Mutual Insurance Company, Redwood City, CA, said that DPIC affiliates will begin the transfer of the management of their accountants professional liability program to CAMICO, effective January 1, 2000.

In the first phase of the transition, CAMICO will assume responsibility for underwriting, advisory services, loss prevention educational programs, agency relations, and marketing of the program.

DPIC affiliates will continue to handle day-to-day claims handling, policy printing and premium collection for its agents and policyholders.

With the signing of the agreement, CAMICO and DPIC can now proceed with the plans they announced in August to form an alliance to strengthen the professional liability and risk management programs the companies provide to accountants.

``This alliance combines the strengths of our companies to enhance the delivery and scope of service to our policyholders,'' said Thomas Okarma, president and CEO of DPIC Companies. ``Because CAMICO is dedicated exclusively to providing professional liability insurance and practice and risk management programs for CPAs, it has built considerable expertise to best meet the changing needs of the profession.''

``The independent agent network that DPIC has built provides local accessibility and knowledge for the CPA firms to complement CAMICO's experience, focus and skill in servicing the CPA profession,'' added CAMICO President John A. Dodsworth, CPA.

Through the alliance, the organizations look forward to significantly improving their market presence. In combination they expect to gain the scale required to be a major influence on the market, expand the risk management services dedicated to CPAs, find expense savings through economies of scale, and leverage their expertise and resources to better serve this group of professionals.