Are you a certified public accountant? If you are, then let us ask you one more question: Are you ever worried of committing a mistake while providing services to your clients? If your answer is yes, then it is time for you to apply for a professional liability insurance policy for CPAs. This will help you manage any possible risk that you may encounter while working with your clients. It will also help you protect the assets of your firm and your partners from financial consequences related to a claim.
Why is it Important to Have a Professional Liability Insurance Policy?
There is a possibility for disputes to arise between providers (CPAs or accounting firms) and their clients or third parties. Disputes may not only arise because of errors or mistakes committed by the providers—they may also be due to misunderstandings and miscommunications between parties regarding agreed scope of work, duties and responsibilities. As such, having proper insurance coverage can help you and your organization manage the risk of liabilities to clients and third parties.
Coverage of a Professional Liability Insurance Policy
While it tends to vary from provider to provider, the usual benefits or items included in the package are as follows:
• Disciplinary proceedings
• Subpoena expenses
• Claim Mitigation
• Expense Reimbursement
Apply for Professional Liability Insurance Coverage
Running your own business is risky indeed. As such, it is necessary to be covered under a professional liability insurance policy. This will help you protect your business, your employees and ultimately yourself from any possible professional liability lawsuit that may arise. Further to that, it will also provide you insurance for the cost of defense.
It is important for your service provider to understand your needs and to provide appropriate guidance. Because we understand exactly what insurance coverage entails, we would like to offer you a free quote. Before it is too late, we recommend that you request your quote today and see for yourself how our coverage could benefit you.