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Insurance for Accounting Firms from GMG Insurance

Professional accounting firms can range in size from a very small, boutique partnership to a practice that stretches across the country. Irrespective of size, you will need standard business insurance plus specialty coverages designed for your field.

Coverage Basics

An accounting firm insurance policy can go beyond a commercial insurance policy by providing professional liability coverage that is excluded by most general liability policies. It will cover your legal defense costs in a professional liability claim as well as losses caused by actual or alleged errors, omissions or acts of negligence in the conduct of your professional duties.

GMG Insurance partners with global insurers, so we can provide worldwide coverage if needed. We can find coverage for prior acts and personal injury to other parties, and in states where it’s allowed, punitive damages may be insured. If there are costs associated with disciplinary actions, those can also be insured.

Bundled with some accountants professional insurance policies are other coverages and services that bolster your firm’s security. For example, a failure to secure your computer network against invasion or accidental breach of client privacy can be included, and crisis response coverage for reputation-damaging events is available, also incorporated in the overall policy.

Additional options include no-deductible options, subpoena coverage, high limits of coverage, and local defense counsel, to name a few.

Accounting Firms and Their Staffs

Our insurers offer protection for your firm and staff, including bookkeepers, tax preparers, enrolled agents, consultants doing work on your behalf, and others who fall under the broad professional services definition provided. Personal fiduciary coverage is available for firm members who serve as executors, administrators, or representatives of an estate, and those acting as trustees for an individual, family or charitable trust are also eligible for coverage in that role.

We tailor your coverage to fit your firm.

Turn to GMG Insurance for personalized attention on managing your assets and securing products that accommodate your lifestyle, now and as it changes over time. Contact us at (215) 497-9240; (800) 540-7900; or email at info@gmgins.com.