Accountant Professional Liability Insurance
Comprehensive liability coverage options
Coverage solutions designed to meet the specific needs of CPAs and all sizes of Accounting Firms. We have the resources to approach several insurance carriers to address the unique needs of accounting professionals.
Program Overview
Features and Highlights
- Broad definition of professional services to meet the needs of today’s CPA: includes specific investment advice, computer consulting, business valuation, litigation support, trustee/executor, and assurance services
- Worldwide coverage
- Broad innocent insured provision, applies to dishonest, fraudulent, malicious or criminal acts, errors or omissions
- 50% reduction in deductible (up to $50,000) for early reporting of a potential claim, or use of mediation
- 5% premium credit when choosing the exclusionary suit-for-fees endorsement
- Loss of earnings coverage for attendance at trial: $500 per day up to $10,000 per claim
- Pre-claims expenses are not charged against the deductible or liability limit even if a claim is subsequently made. The limit and deductible are not triggered until an actual claim is made
- Prior acts provision ensures continuity of coverage for CPA firms with PL insurance switching to CAMICO
- Unlimited “tail coverage” period for qualified retiring sole practitioners
Options
- Zero deductible for defense costs
- Separate limit of defense coverage in most states
Limits of Liability
- Up to $10 million (higher limits may be available)