Professional Liability
Accountants Professional Liability Insurance
Specialized E&O coverage protecting CPAs and accounting professionals from financial claims.
Accountants and CPAs are trusted with their clients' most sensitive financial information and decisions. A single error in a tax return, audit, or financial report can lead to costly claims. Accountants Professional Liability insurance protects your firm against allegations of negligence, errors, and omissions in accounting and tax services.
Coverage Details
What Does Accountants E&O Cover?
Tax Preparation Errors
Claims arising from mistakes or omissions in tax returns, filings, or tax advice that result in penalties or losses for clients.
Audit & Assurance Claims
Coverage for claims related to financial statement audits, reviews, compilations, or attestation engagements.
Financial Planning Errors
Claims from negligent financial advice, estate planning, or investment recommendations made in a professional capacity.
Defense Costs
Full coverage of attorney fees and legal defense costs, regardless of whether a claim has merit.
Settlements & Judgments
Coverage for damages awarded in court or negotiated in settlement, up to policy limits.
Disciplinary Proceedings
Coverage for costs incurred responding to state board of accountancy disciplinary proceedings or complaints.
Eligibility
Who Needs Accountants E&O?
- Certified Public Accountants (CPAs) in public practice
- Accounting firms of all sizes — solo to multi-partner
- Tax preparers and enrolled agents
- Bookkeepers providing advisory services
- Management accountants providing external consulting
- CFO-for-hire and fractional finance professionals
Why Choose CIIB
The CIIB Advantage
- CIIB is a CPA Protector Plan partner — specialized coverage for accounting professionals
- Access to multiple carriers that understand the unique risks of accounting practices
- Competitive quotes with up to 40% premium savings
- Tailored coverage for your firm size and service mix
- Annual policy reviews to keep pace with your growing practice
FAQ
Common Questions
What is the CPA Protector Plan?
The CPA Protector Plan is a specialized professional liability program designed specifically for CPAs and accounting firms. CIIB is a partner in this program, giving our clients access to broad coverage with competitive rates tailored to the accounting profession.
Are tax preparers covered under accountants E&O?
Coverage requirements vary by carrier and policy, but many accountants E&O policies can be tailored to include tax preparation services. Some carriers offer standalone coverage for non-CPA tax preparers as well — contact us to find the right fit.
What limits of liability should I carry?
Common limits range from $250,000 to $5 million or more, depending on your firm's revenue, client base, and risk profile. We can help you determine appropriate limits based on your specific situation.
Ready to Get Covered?
Compare rates from multiple A-rated carriers and find the right policy for your needs.