[Jackson BA, CEA, CPCA, Janet]

I wanted to go direct to the source and got this reply back from them.

With regard to liability for fraud or other intentional misconduct, the Lloyd’s policy does exclude indemnity coverage for such liability as required by law, but provides defense cost coverage against such claims. In addition, the new Lloyd’s policy form now includes a standard $25,000 theft coverage sublimit under which underwriters agree:
To pay on behalf of any Assured not complicit in any alleged Theft perpetrated with the alleged complicity of any other Assured, Damages and Claims Expenses and in excess of the full extent of the recoverable assets of any complicit Assured, the greater of twenty five thousand dollars ($25,000) or other applicable limit expressly designated in the Declarations, which any non-complicit Assured shall become legally obligated to pay because of any Claim first made against an Assured and reported in writing to Underwriters during the Period of Insurance or Extended Reporting Period (if applicable) arising out of any alleged Theft perpetrated with the alleged complicity of any Assured during the Ordinary Course of Business on or after the Retroactive Date set forth in Item 6 of the Declarations and before the end of the Period of Insurance. In the event that Underwriters elect to indemnify all Assureds under this coverage grant, including those potentially complicit in the subject Theft, Underwriters reserve the right to recover any such amounts from complicit Assureds.
For an additional premium the sublimit can be increased to $100,000.

It is important to understand that insuring intentional misconduct is contrary to public policy for obvious reasons and therefore routinely prohibited by law. However, bonding for such is allowed since the wrongdoer remains ultimately responsible for the loss. For additional information about crime coverage and bonding check out our article entitled I’m Insured, So Why Bonding Too? ( https://dominioninsurance.com/items/index/333/4 ) Both forms of coverage perform important complementary roles.

If you have any other questions on this or any other insurance topic, please don’t hesitate to contact us.

[Jackson BA, CEA, CPCA, Janet]

Wendy,

I went with Dominion when I first started about 5 years ago. At that time I did check the standard insurers such as State Farm, American Family, and Allstate. They could quote me but not on a level playing field to Dominion. I was told since they specialized in our field’s coverage and know the extra endorsements a DMM may need they are the better one to go with. Based on my research that seemed to hold true. I have worked with Lynn Cain there and she is very helpful in getting my questions answered when I run into a situation that I may need a new endorsement for. I figured although they are not the least expensive, I was paying for peace of mind, my assumption was that since they know the business they would be there come time for a claim.

Just reread Jeremy’s post. As far as coverages needed it will depend on what type of services you are offerring your clients. Lynn helped me with that. Limits are up to you to determine the risk you want to take. In today’s litigious society and the inexpensiveness of additional coverage, I recommend higher limits.

Let me know if you have any more questions I can answer. Rich Rich@YourBooks.Solutions.

[Jackson BA, CEA, CPCA, Janet]

I use QBO Essentials for my residential clients and QBO Plus for my commercial clients. I offer QBO E for $300 per year and QBO Plus for $500 per year for these clients.

I am working on my website, but will have more details about offering conversion services from Quicken and QB Desktop to QBO.

The nice thing about QBO is you can set up a family member with reports only access, this way they can see what is going on in their accounts without messing up your records. This is very helpful when it comes time for their CPAs to do their taxes.

Please let me know if you have any questions I can assist you with.

Rich

[Jackson BA, CEA, CPCA, Janet]

I have used the programs available via CSA. They have a table at the AADMM conference here. A very worthwhile designation if you are working with seniors.

[Jackson BA, CEA, CPCA, Janet]

Just a thought. I had a long distance client who knew I was going to have to charge travel time to him also if he wanted me to make the trip out to work in person. Definitely makes your initial set up easier to do. The initial bank links into QBO etc..

At times it’s just a matter of getting the local people to understand the solutions you can offer their clients to make their lives easier and cover areas which the other person can’t or does not want to handle.

[Jackson BA, CEA, CPCA, Janet]

I have been with Dominion from the start 3 years ago. While their prices may be higher, remember you are paying for peace of mind if a claim arises. Cheapest is not always the best way to go. I am counting on them knowing the business from the start and what we do, not having to figure what they could classify us under. You also would want to verify how they cover you as in a claims made or claims incurred basis. One of the reasons why Dominion is more expensive is the cumulative coverage you get over the years. They are really nice and easy to talk to (Lynn Cain), taking time to explain the coverage and various options you can chose to customize your coverage. Hope this helps in your search. Rich

[Jackson BA, CEA, CPCA, Janet]

Thanks for all the replies. I will post with what I end up using will be deciding within a month. Thanks again. Rich

[Jackson BA, CEA, CPCA, Janet]

Thanks for all the replies. I will post with what I end up using will be deciding within a month. Thanks again. Rich

[Jackson BA, CEA, CPCA, Janet]

I did a quick search and it looks as though both Quicken and QuickBooks will work with NEAT. Are they looking for personal or business use?

[Jackson BA, CEA, CPCA, Janet]

I have used Quicken with multiple files for my individual residential clients. It will be interesting though if we have to buy separate licenses with the offer we got at the conference. I would like to see some official clarification from our conference Quicken contact?

I use QuickBooks Plus Online for my commercial clients. Desktop will allow you to have multiple clients similar to Quicken, but more people are going online for the convenience. The advantage of becoming a QB ProAdvisor is you can get the online subscription for almost half what they would plus you decrease your wait time for support vs a retail customer. I can give you more information if you like. QBO has the convenience of the backup being built in and you can look at it while your client does and explain things to them. QB support people are very helpful too.

[Jackson BA, CEA, CPCA, Janet]

I had brought this up at the conference during ListServ time. This was an awesome resource when I first became a member. I was able to read the ones that applied to my business and dismiss the ones that didn’t. With the new platform requiring us to opt in vs opt out, in my opinion we have gutted the whole idea and ease of usefulness of ListServ.

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