We understand that the role of an accountant is a high pressure position and in an increasingly litigious environment you’ll need professional indemnity insurance (PI) to protect your business.
Your specialism often dictates why PI insurance is so crucial. For example, if you work in company taxation and audit, exposure to claims can be considerable and a simple typing error or miscalculation could prove very costly if these mistakes result in a client being fined for providing incorrect information. The penalties levied by HMRC can be significant, often running into tens of thousands of pounds and your client will almost certainly hold you responsible for advising them poorly.
A policy can protect you from losing assets, paying high defence costs and potentially losing your business. We understand the specific professional indemnity cover that is required for accountants to ensure that they are protected by a policy which is specific to the client.