Insurance for Accountants

Why do Accountants need it?

If you want to avoid an unwanted liability on your balance sheet, you need to make sure you have the right insurance for your business. Being the numbers person that you are, we don’t need to convince you that getting multiple competitive quotes from leading insurers is the quickest and most cost-efficient way to secure the right cover for your accounting practice.

Insurance for Accountants

Professional Indemnity*

Even Excel gurus can make mistakes, and these errors or omissions could result in financial losses for your practice. 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 advice / 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 protection complies with the standard outlined by your professional association. For instance, CPA Australia and Charted Accountants Australia mandates that members maintain a minimum level of Professional Indemnity cover.

And don’t forget our Price Promise that ensures you will always pay the lowest rate for your PI.

Public Liability Insurance*

If you run  an office or enjoy meeting your clients for coffee or on their premises you should consider Public Liability insurance.  It is an important form of cover for your Accounting business and is designed to provide protection for you and your business in the event a customer, supplier or a member of the public is injured or sustains property damage as a result of your negligent business activities.

Business Insurance*

If any of the following circumstances relating to your business then you should consider Business Insurance to ensure you are adequately protected:

If you have an office are you covered for building and contents?

Do you rely on computing equipment/servers to get your work done? If they were to breakdown could you cover the cost of repairs, restoration of electronic data, and even any additional cost of completing your work?

Cyber Insurance*

Consider the client data you are storing and if there was a breach of confidentiality by being hacked. For example, is the information sensitive enough that you would have clients in a rage outside your door and lodging claims against your business?