Accountants are often required to have professional indemnity insurance in order to practise. Professional standards legislation, membership of professional associations and client requirements all often dictate that accountants be fully covered by professional indemnity insurance. The cost of defending a claim of negligence and the possibility life of having to pay damages could lead to financial ruin for any accountant who wasn’t fully covered.
- Court attendance costs and legal advice
- Employment practices liability
- Negligence claims.
- Civil liability claims.
- Infringement of intellectual property rights.
- Fines and penalties.
- Loss of documents.
- Run-off cover.
- Public relations expenses.
- Investigations and enquiries.