30 Dec Accountants Professional Liability Insurance

The management team of any accounting firm should understand the numerous common exposures that they may face related to client fraud, cyber liability, and the challenges of claims mitigation and management. When addressing these exposures, it’s crucial that your organization identifies risks and considers strategies to reduce, avoid, retain, or transfer these risks. 

This coverage applies to claims made against the insured for reasons such as a negligent act, error, or omission. One’s firm can gain protection from financial losses arising from the performance of its professional services. A policy can be tailored to fit an organization’s specific needs.

Who Can Benefit From This Coverage?

Accountants Professional Liability (Errors & Omissions) Insurance is essential for professionals who provide accounting services, handle financial responsibilities, or manage sensitive information belonging to clients, helping protect against claims related to errors, omissions, or data handling issues. 

• Certified Public Accountants (CPAs)
• Accountants and Accounting Firms
• Bookkeepers
• Tax Preparers and Tax Advisors
• Payroll Service Providers
• Controllers and Financial Managers
• Financial Consultants and Advisors
• Auditors
• Part-Time or Freelance Accounting Professionals
• Firms That Handle or Store Sensitive Client Financial Data

Even highly experienced professionals face risks of claims related to errors or omissions, missed deadlines or mistakes in filing, incorrect advice or calculations, client allegations of negligence, or data breaches involving financial records. Accountants professional liability insurance helps to cover legal defense costs, settlements, and judgements ties to these types of claims. 

Take our free Intelligent Quotient for Risk Management assessment – a quick non-invasive tool that takes less than 5 minutes to complete. You’ll receive a free evaluation score that uncovers your hidden risks as a professional providing accounting services.

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