Professional Liability Insurance for Accountants

 

Accountant professional liability insurance

Accountant professional liability insurance

The work of an accountant is challenging enough without undue concern for the threat of legal action from a disgruntled former client to disrupt business and add up large legal costs even before any resolution of the claim is realized. Solid accountant professional liability insurance can remove a lot of unnecessary worry about the worst possible outcome of a project for which a former client claims damages due to an alleged professional error.

 

Know Your Exposure

 

Taking the time to talk with an expert in the field of professional errors and omissions coverage can help you see where your firm may be vulnerable, and where a solid insurance plan may strengthen your first line of defense against claims, and continue to provide support throughout a difficult situation. You particularly need to think of coverage if you specialize in an area that may be fraught with dispute and potential for legal claims, such as:

 

– Tax and regulatory compliance matters

– Forensic auditing

– SEC compliance

– Sarbanes-Oxley compliance

– Internal audits

 

If there is a claim of financial advisory malpractice brought against you, legal fees can add up dramatically and the threat to your business can be very real if a substantial judgment is awarded. The comfort that comes from having thorough, well-planned accountant professional liability insurance coverage in place should be a central element of your business plan. Take the time to review the situation at your firm, talk with your peers, and find the professional liability coverage that will provide you with continuing support and stability in times of trouble.

This post was written by , posted on December 18, 2013 Wednesday at 1:07 pm

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