Insurance for Accountants

Why do Accountants need insurance*?

Being a numbers person, we won’t need to convince you that getting multiple competitive quotes from some of Australia’s leading insurers is a cost-efficient way to secure insurance cover for your accounting practice. And don’t forget our Price Promise – to show to you our commitment to providing the most competitive insurance prices we can!

Common insurance policies for accounting professionals

Professional Indemnity*

Even excel gurus can make mistakes, and these errors or omissions could result in financial losses for your clients. Professional Indemnity insurance will protect your business from losses arising out of acts, errors and omissions from a wide variety of services, including:

• Accounting and bookkeeping errors
• Failure to fully comply with audit undertaking
• Incorrect tax preparation
• Returns not lodged in time
• Negligence in rendering professional services
• Incorrect analysis and interpretation of the numerical data

Oh, and did you know it is an industry requirement that your level of Professional Indemnity insurance complies with the requirements outlined by your professional association. For instance, CPA Australia and Charted Accountants Australia mandates that members maintain a minimum level of Professional Indemnity cover.

Business Insurance*

Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance package can also cover your portable equipment, glass and for loss of revenue due to business interruption in specified circumstances.  In addition, cover is available for public liability, tax audit, employment practices and statutory liability risks.Consider the following:

• Is your office contents covered?
• Is any stock you hold covered?
• Do you rely on electronic equipment/or specialist machinery to get your work done?

Cyber Insurance*

Consider the client data you are storing and if there was a breach of confidentiality by your system being hacked. Cyber Liability insurance helps to protect you from claims and supports your profitability in the event of a cyber breach or attack.