Accountants' Insurance

As an accountant, it’s likely you’ll be offering financial advice to companies and individuals on a regular basis. The nature of your work and your position of responsibility may leave you vulnerable to negligence claims. If you make an error or give someone some flawed financial advice, you may be forced to pay damages to the third party.

Professional indemnity cover will normally be a fundamental part of any accountant insurance policy.

Professional indemnity cover: If you make an error that costs your client money, or you give them some bad advice that results in financial loss, they may seek compensation. If any such claim is made against you, this type of insurance could help you cover the costs. Before taking you on as their accountant, some clients may insist that you have a certain level of professional indemnity cover in place.

It can cover these different areas:

Negligence: such as incorrect financial advice

Civil liability: for claims that occur because of your business activity. Check to see if there are any situations that would be excluded by your chosen policy.

Infringement of intellectual property rights:  the abuse of copyright or trademark

Loss of data: confidential information that is missing, lost or stolen - such as a client’s private financial report.

This type of insurance also covers tax consultants, bookkeeping and payroll professionals.

Public liability insurance: Whether you’re a practicing individual or an accountancy firm, if you come into contact with the public – you might want to consider this cover. If a member of the public is injured on your property or as a result of your business activity you might need to cover compensation claims.

 
Get a tailored accountants' insurance quote now.