Tax preparation
Clients may allege that an error, missed filing, or incomplete advice caused penalties or financial loss.
Accountants professional liability
Protection for the numbers clients trust.
Professional liability guidance for CPAs, bookkeepers, tax professionals, and accounting firms whose work influences important financial decisions.
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CPAs and accounting firms
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Tax and advisory exposures
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Claims-made protection
Common exposures
Even careful professionals can face a claim.
Financial statements
Compilation, review, and audit-related work can lead to allegations from clients or other affected parties.
Bookkeeping errors
Incorrect classifications, reconciliations, or reporting may create costly disputes even for small firms.
Advisory services
Business consulting and financial guidance can expand the scope of a firm’s professional exposure.
Coverage conversation
Look beyond the premium.
Services performed
Tax, audit, bookkeeping, payroll, and consulting services can have different underwriting considerations.
Third-party claims
Ask how the form addresses claims from parties other than the direct client.
Engagement controls
Written engagement letters, review practices, and documented procedures may help demonstrate risk management.
Cyber and funds exposure
Professional liability may not replace cyber, crime, or funds-transfer coverage. Related exposures should be reviewed separately.
A straightforward process
Start with the essentials.
Tell Gagan about your work
Share your profession, practice or business, and renewal timing—without including confidential client or claim details.
Discuss the coverage need
Review the services you provide, current insurance, desired limits, and any timing considerations.
Move to the licensed market
When appropriate and with your permission, the request can be referred to a licensed broker or agency able to pursue coverage options.
Frequently asked questions
Useful answers before you begin.
What can accountants professional liability cover?
Subject to its terms, a policy may respond to covered allegations involving errors, omissions, or negligent professional services, including defense costs and covered settlements or judgments.
Do solo accountants need coverage?
A solo practice can still face significant defense costs and client allegations. Contract requirements and the financial consequences of a claim often influence the decision.
Does it cover cyber incidents?
Not necessarily. A separate cyber policy may be needed for privacy events, ransomware, system interruption, or certain funds-transfer exposures.