All accounting professionals are committed to the integrity and accuracy of their work for their clients. However, as the owner of an accounting firm, one mistake can put your business at risk for lawsuits resulting from errors, omissions and negligence. One lawsuit could bankrupt your business. With professional liability insurance from Oyer, Macoviak and Associates, you can rest easy knowing your business is protected no matter what.
Who Needs Professional Liability Insurance?
Professional liability insurance is important for the owners of small- to mid-sized accounting firms. Professional insurance can protect the business from errors occurring in a number of departments. It can also be useful for any business employing an enrolled agent, tax preparer, bookkeeper, internal auditor or other professional accountant.
What Will Insurance Protect me From?
Professional liability insurance protects professional accountants from issues involving:
- Tax planning and preparation
- Personal financial planning
- Consulting services
- Information technology services
- Management advisory services
This protection covers your liability to pay damages for negligence, errors and omissions and the cost to defend yourself in the court of law. Professional liability insurance for accountants can cover liability up to $100,000 to $10 million depending on your needs and deductible options range from no deductible to high deductible plans.
Benefits of Professional Liability Insurance
Image is a big deal in the business world. Before big clients sign a contract with you, they may ask you to show them proof of coverage to prove you are professional and can back up the quality of your employees’ work. It can also protect you from paying several thousand dollars in legal fees and court costs even if a case is unfounded.
If you are the owner of an accounting firm and employ professional accountants, bookkeepers, enrolled agents or tax preparers, you are at risk from lawsuits if one of your employees make a mistake in his or her work.
If you would to like to discuss your options for accountants please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:30 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!
Rob Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953.