The CPA professional liability market is in a transitory period.

"We're coming off a hard market, where prices were increasing," said Ric Rosario, vice president of Redwood City, Calif.-based carrier Camico. "We're in transition at this point - I'm not sure what will happen. It could kick back into a hard market or erode into a soft market. A transition market has potential pitfalls, so buyers have to be careful."

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