Accountants Professional Indemnity Insurance

Benchmark your accountants professional indemnity insurance with quotes from the wholesale market

Get indemnity™ accountants insurance

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Accountant's professional indemnity insurance starts from £425 annually or £35.41 monthly.
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As a specialist PI broker we can accommodate accountancy firms with up to £100m turnover.
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Wholesale insurance underwriters can provide competitive accountants PI Insurance.
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Ensure you purchase the most suitable and cost-effective accountants professional indemnity.

Accountants Professional Indemnity (PI Insurance)

Compare specialist insurance designed to provide financial support to accountancy firms

In the course of performing their professional duties, accountancy firms are exposed to a number of financial risks. A simple error or miscalculation in the provision of technical or advisory services can prove costly.

At get indemnity™ accountants professional indemnity insurance starts at £425 per year or £35.41 per month. Below we explain how professional indemnity and other business insurance products can protect you and your accountancy firm.


    Get indemnity™ accountants insurance

    Accountants professional indemnity can protect against the failure to exercise reasonable skill and care in provision of professional accountancy services. 

    The professional indemnity insurance will pay legal costs incurred in defending allegations and pay damages arising from any judgment, award or settlement.

    Allegations of a professional wrongdoing often involve complex litigation which can be costly to defend when professional accountancy services are offered.

     

    Accountants professional indemnity claims include:

         

    Improper advice

    Misleading financial statements 

    Inadequate research 

    Negligent record keeping 

    Misuse of personal information 

    Breach of contract

     

    Package accountacy insurance 

    As a digital insurance broker, we can identify a selection of quotes designed to meet your specific requirements. Choose the covers that are right for your accountancy firm and create a single comprehensive package.

    Accountants insurance can provide cover for actuaries, auditors, bookkeepers, insolvency practitioners, management consultants, tax advisors and payroll specialists.


    What accounting activities pose a greater risk?

    Most accountancy firms adhere to the highest standards, however mistakes can occur, and frivolous allegations can be made.

    The nature of the work you undertake will have a direct bearing on your accountant's professional indemnity insurance premium. The below guide seeks to identify and group different types of accountancy activities by categories of risk:

     

    > Lower risk accountancy activities

    >   Management Consultancy
    >   Payroll services
    >   Bookkeeping
    >   Personal Tax Consultancy
    >   Company Secretary work

     

    > Medium risk accountancy activities

    >  Audit & Accountancy
    >  General Insurance work
    >  Trusteeships / Directorships
    >  Financial Services work
    >  Insolvency work
    >  Corporate Finance

     

    > High risk accountancy activities

    >  Audit & Accountancy - Publicly Listed companies
    >  Mergers & Acquisitions


    Who are the professional accountant governing bodies?

    There are a number of governing bodies who maintain rules for accountants professional indemnity:


    What are the conditions for accountant's professional indemnity insurance?

    At get indemnity we're starting to see a hardening of the market with less insurers willing to compete for accountant's professional indemnity insurance.

    There remains a number of specialist insurers that want to grow their portfolios within this space for well managed and claims free accountants. Please give one of our Account Executives a call on 0345 625 0711 to discuss further.

    Medium to high hazard accountant activities may come under increasing pressure to accept premium increases. Your PI insurance broker should engage with you early in the renewal process to ensure sufficient strategic planning.

     

    Compare accountants professional indemnity insurance


    Other Accountants Insurance

    At get indemnity we offer comprehensive business insurance to ensure your accountancy firm purchases the most appropriate cover at the lowest cost. Complete our online application to apply for a broad selection of insurance covers designed for accountants.

     

    Public liability insurance

    At your firm, if you have clients or members of the public visit your premises, or if you visit clients at their premises, it's worth considering public liability insurance.

    The cover will provide a legal defence and cover the cost of damages from a client or member of the public that has suffered bodily injury or property damage. This could include a client slipping and suffering a back injury at your premises. Without adequate protection this type of accident can become very costly.


    Employers liability insurance

    Nearly all accountancy firms employ staff, therefore you will be required to purchase employers liability insurance.

    The cover will provide a legal defence and cover the cost of damages from an employee who has suffered bodily injury or illness whilst working for you. This could entail an employee falling on the stairs as a result of a loose carpet.


    Cyber crime insurance

    Cyber insurance can cover your legal liability and expenses to mitigate the impact of a theft of customer data. While, crime insurance can cover the financial loss from a fraudulent theft of funds.

    Complete our online application to apply for cyber and crime, we can identify a range of solutions available for your firm.


    This guide is for information purposes and based on sources which we believe are reliable, the general risk management and insurance information is not intended to be taken as advice with respect to any individual circumstance and cannot be relied upon as such.