If you are an accountant or you operate a firm where you are in charge of client accounts, you know what a large burden of trust you bear. You also know that sometimes, errors and other issues that are not related to your intentional handling of accounts can cause discrepancies. To help manage your liability, you need insurance that was designed for an accountant. Professional liability insurance is built to meet all your needs while protecting both you and your client.
How to Understand the Coverage You Need
If you are unsure how liability insurance for accountants works, you need only take a look at this list to see what factors are used to compute your premium and coverage needs:
- The size of your firm, as expressed by volume of business
- Your professional record
- Your number of employees
- The size of your largest account
With those factors, it is easy for an underwriter with experience to figure out the insurance needs of practically any accountant. Professional liability insurance is straightforward and it protects you against mistakes made by yourself or your representatives, so make sure you are inquiring about how you can use it to protect yourself today. Without it, you are simply left exposed.