Professional Liability Insurance

Professional Liability Insurance video

IMPORTANT PROFESSIONAL LIABILITY PROTECTION FOR YOUR SMALL TO MEDIUM-SIZED PRIVATE ACCOUNTING FIRMS

What is Professional Liability Insurance?

Professional Liability Insurance for Accountants

Professional Liability Insurance for Lawyers

Accountants Professional Insurance	Architects and Engineers E&O Insurance	Contractors E&O Insurance
Cyber Liability Insurance	Directors and Officers Insurance	EPLI Insurance
Lawyers (Attornies) Professional Liability Insurance	Media Technology Insurance	Medical Malpractice Insurance
Medical Practice Insurance	Sexual Abuse Molestation Insurance	Social Services Professional Insurance

 

Hartford Financial Products, an underwriting unit
of The Hartford* offers an Accountant’s Professional
Liability product designed for small to medium-sized
private accounting firms (1 to 50 professionals)
including CPAs, public accountants, enrolled agents,
tax preparers, bookkeepers and other accounting
professionals.
The product will be administered by Target
Insurance Services, a countrywide program
administrator-managing general underwriter with
years of experience handling professional liability
coverage. Firms are individually underwritten by
a dedicated team of experienced accountants
professional liability underwriters.
Capacity – $5 million
Minimum premium – $500
Minimum deductible – $1000
Availability – Nationwide (except AK & HI) on an
admitted basis

• Worldwide coverage territory, provided claim is made
and suit is brought within the U.S., its territories or
possessions, Puerto Rico and Canada
• Multiple extended reporting periods including a 1, 3, 5
and unlimited period option
• Retiree extended reporting period available for
qualifying sole proprietors
• Death & Disability extended reporting period for
sole proprietors
DEFENSE COSTS
• Defense costs are included within the limit of
liability (may vary in some states due to regulatory
requirements)
• Defense costs outside the limit of liability option for
an additional premium
COVERAGE ENHANCEMENTS OR
RESTRICTIONS
• 50% deductible reduction for claims settled
by alternative dispute resolution
• 50% deductible credit for the use of engagement
letters in non-audit and non-attest engagement
claims
• Defendants reimbursement coverage, $500 a day per
insured $5,000 maximum per insured, up to $10,000
per policy period
• Disciplinary proceedings reimbursement up to
$10,000 per policy period
• Discrimination defense coverage, up to $50,000
per policy period

COVERAGE FEATURES
• Claims-made and reported coverage form
• Prior acts coverage available for qualified applicants
• Innocent Insured coverage
• First dollar defense coverage available (on a limited basis)
• Automatic coverage for newly acquired entities with
five or less professionals and predecessor firms
• Broad definition of professional accounting services
including advice given or services performed:
~ as an accounting professional, including but not
limited to services performed or advice given in
connection with the American Institute of Certified
Public Accountants or any state society of certified
public accountants
~ as a member of a formal accreditation, standards
review, or other professional board or committee for
the accounting profession
~ as a personal financial planner, consultant, arbitrator,
mediator, notary public, trustee, receiver or executor
~ in training, consulting, sales, installation, integration,
maintenance and development of hardware and
packaged software products related to professional
accounting services
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CALL US AT 1 (310) 860-5000

 

Professional Liability Classes:

• Barber & Beauty Schools • Barber & Beauty Shops • Cemeteries & Crematoriums • Condominium Associations • Dental Laboratories

• Educators • Florists • Funeral Directors • Hearing Aid Establishments • Optical Goods

• Pastoral Counselors • Pet Groomers • Printers • Technology Firms • Veterinarians

 

• Accounting & Auditing Services Firms • Advertising Agencies • Answering Service Companies • Consultants – Business or Management • Consultants – Wedding • Copying & Duplicating Service Businesses

• Court Reporters • Embroidery Operations • Graphic Artists & Designers • Interior Decorators • Interpreters or Translators • Market Research Firms • Notary Publics

• Public Speakers • Stenographic & Secretarial Service Companies • Tax Preparers & Bookkeepers • Telemarketing Firms • Travel Agencies

GET A QUOTE: Call (310) 860-5000