Accountant Insurance
Every accountant who offers accounting advice or services should consider Accountant Insurance.
Protect your accounting practice against claims of negligence, errors or omissions.
Join thousands of Canadian businesses that are already protected!
What is Accountant Insurance?
Accountant Insurance coverage protects accountants against allegations of negligence or claims of financial loss through errors & omissions coverage or professional liability coverage.
What does Accountant Insurance cover?
When requesting an Accountant Insurance policy package, make sure it covers:
- Commercial General Liability: bodily injury to employees or clients on your premises
- Cyber Liability: damage to electronic data on your servers.
- Errors & omissions insurance – to protect you from mistakes in your service
- Legal expenses: coverage for legal fees when battling lawsuits
Who needs Accountant Insurance?
Any person or practice who offers accounting services or guidance for a fee needs accountant insurance.
Accountants might be held liable for advice or work done that results in any form of damage or doesn’t yield the promised results.
The following are the typical fields where accountants operate:
- Bookkeeping Services
- Tax Computations, Filing and Planning
- Corporate Financial Consulting
- Audit Engagements
- Review Engagements
- Financial Planning
Without the right insurance coverage, your accounting practice could suffer severely due to lawsuits from unhappy clients.
Accountant insurance will cover you and allow you to focus stress-free on running your practice.
What is the cost of Accountant Insurance?
The cost of an accountant insurance policy varies according to factors such as:
- Types of services offered
- Level of experience in the accounting industry
- Revenue over the last year
The insurance costs for accountants vary based on some other factors too.
You can provide answers to these questions right here and our online platform will generate a quote for you.
Getting insured
is quick and easy!
If accountant insurance is what you need,
request a free quote now >
Which accounting services require Accountant Insurance?
Regardless of the type of accounting services you offer, accountant insurance is critical:
Bookkeeping Services
- Tax Return Preparation (Personal)
- Tax Return Preparation (Corporate)
- Tax and Estate Planning
- Business Valuations
- Corporate Financial Consulting
- Investment Consulting
- Audit Engagements for Publicly Held Companies
- Audit Engagements for all others
- Mergers & Acquisitions Activity
- Review Engagements
- Non-review Engagements
- Receivership or Trustee on Bankruptcy
- Other (e.g. lawyer, insurance broker etc.)
- Forecast
Projection
- Limited partnership or tax shelter syndication
- Securities or trustee services
Compilations
- Forensic Accounting / Litigation Support / Investigative Accounting
- Management Advisory Services
- Personal Financial Planning
- Investment Advisory Services
Common scenarios where Accountant Insurance is useful:
Electronic data relating to your clients is stolen from your systems and their financial and personal information is compromised. It’s practically impossible to bounce back from a cyber breach without insurance.
As a bookkeeper, you are filing tax returns for a client but due to an error on your part, the CRA is auditing the client and the client decides to sue you.
As an accountant, you are finishing up financial documents for your client but due to an error on your part, the financial documents overstate the client’s profits and he ends up over-spending in the next quarter.
Frequently Asked Questions about
Accountant Insurance
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