- Accountants professional indemnity insurance
- Professional governing bodies
- Accountants professional activities by risk
- Market conditions for accountants insurance
- Other Business Insurance
- Accountants public liability
- Accountants employers Liability
- Accountants cyber crime
Accountants professional indemnity insurance
Accountants PI insurance can protect against the failure to exercise reasonable skill and care in provision of professional accountancy services. The 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. Potential accountants professional indemnity insurance claims include:
Misleading financial statements
Negligent record keeping
Misuse of personal information
Breach of contract
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.
Professional governing bodies
There are a number of governing bodies who maintain rules for accountants professional indemnity insurance
Accountants professional activities by risk
Most accountancy firms adhere to the highest standards, however mistakes can occur, and frivolous allegations can be made. Professional indemnity insurance
offers protection against what can be lengthy and costly legal disputes.
The nature of the work you undertake will have a direct bearing on your 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
> 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
Market conditions for accountants insurance
At get indemnity we continue to see soft to medium market conditions for accountants professional indemnity insurance. There are a number of specialist insurers that want to grow their portfolios, however we have seen a reduction in the number of professional indemnity capacity providers.
Medium to high hazard accountant activities may come under increasing pressure to accept premium increases, with less insurers willing to compete. Your PI insurance broker should engage with you early in the renewal process to ensure sufficient strategic planning to obtain a satisfactory renewal.
To obtain your PI insurance
quotes, please complete our online application
Other Business 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.
Accountants public liability
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.
Accountants employers Liability
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.
Accountants cyber crime
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.