Certified Public Accountants (CPAs) are at risk of getting sued for mistakes in data entry or an error in financial advice. Protect your business through Professional Liability insurance. This insurance will cover your business and your employees.
General Liability protects your business and your employees from claims of property damage, third-party injury and advertising mistakes that arise in the course of your business operations. It shields your business from the expense of litigation, out-of-court settlements, and judgments awarded by the court.
Cyber Liability insurance covers your business against the data breach the involves your customers' sensitive information like Social Security and credit card numbers. This insurance helps your business survive by paying for the cost of recovery, customer notification, recovering the compromised data and repairing the damaged data networks.
Certified Public Accountants (CPA) are relied on by businesses, the government or any individuals for tax preparation, estate planning, audits, financial advice, and other transactions. However, accounting professionals are just humans and humans make mistakes even if it is unintentional. This is why CPAs need insurance. Insurance protects your business from costly mistakes. The insurance will cover the expenses so you don't have any out-of-pocket expenses.
Below are some of the common risks that Certified Public Accountants face:
While there are no fixed rates for the cost of a Certified Public Accountant's insurance, the list below will give you an idea of the average costs:
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