Professional Liability Insurance & Cyber Risk Coverage for Accountants
Simple, reliable coverage built specifically for solo accountants, certified professional accountants (CPAs) and small to mid-sized accounting firms.
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Overview
Solo professional accountants, certified professional accountants (CPAs) and small to mid-sized accounting firms play a critical role in helping individuals and businesses navigate complex financial, tax, and regulatory landscapes. With client trust at the heart of your business, protecting your firm against professional mistakes and cyber threats is essential. At Protexure, we provide insurance solutions designed specifically for accountants, helping professional accounting firms operate with confidence and security.
Accountants face a unique set of risks, including:
Professional Liability Exposure
- Errors, omissions, or miscalculations in client work can lead to costly claims.
- Even small mistakes can damage your reputation and finances.
Cyber and Data Risks
- Handling sensitive client information puts your firm at risk of data breaches and cyberattacks.
- Compliance with privacy regulations (like IRS or state-level mandates) adds complexity.
Business Continuity Concerns
- A lawsuit, client dispute, or cyber incident can disrupt operations.
- Many small firms lack the internal resources to respond effectively.
Evolving Regulatory Environment
- Changes in tax law, accounting standards, and licensing requirements can increase exposure.
- Staying compliant while running a firm can be a heavy burden.
Professional Liability
Protects accountants against claims of errors, omissions, or negligence in the professional services provided. Essential for accounting professionals and certified professional accountants (CPAs) to safeguard reputation and finances.
Cyber Insurance
Covers accountants in the event of a data breach, ransomware attack, or other cyber incident. Protects sensitive client information and helps accounting businesses recover quickly from digital threats.
Additional Insurance
We can help place additional coverage options that accountants may need including Employment Practices Liability Insurance (EPLI), Business Owners Policy (BOP), Workers’ Compensation and more – so your business stays fully protected.
Why Choose Us
Move forward with confidence, knowing your firm is protected.
Specialized Coverage
Comprehensive coverage, backed by trusted carriers, specifically tailored for solo accountants, certified professional accountants (CPAs) and small to mid-sized accounting firms.
Cyber and Data Risks
Over 90% of our accountant clients renew with us year after year.
Trusted by Clients
Transparent pricing, often saving accounting firms 20% or more compared to their current coverage, with flexible payment options to fit your budget.
Simple Process:
Easy, web-based applications, fast approvals from in-house underwriting.
No-Obligation Policy Review:
We’ll review your current coverage, identify gaps, and provide a side-by-side comparison with recommended solutions – no commitment required.
Ongoing Support
Access our specialized experts anytime for guidance, questions, or help – so your firm always has the support it needs.
The Protexure Team was fantastic to work with. Their web-based application was extremely easy to navigate through. Their response time was quick. Most of all, their premium was competitive!
George T. | CPA
The application process was so much easier than what I have ever experienced. I did not have to answer any questions that did not apply to my firm. The staff was knowledgeable and helpful. I am very happy with the Protexure Accountants program
Andrew K. | CPA
Details or FAQs
Why should I work with a provider that specializes in smaller accounting firms?
Our program is built specifically for professional accountants, CPAs, and small to mid-size accounting firms, recognizing the unique risks and needs of these practices. By focusing on this segment, we can deliver solutions that truly fit your firm:
- Coverage Tailored to Your Firm: Policies are designed for the types of claims small accounting firms are most likely to face, protecting your practice where it matters most.
- Competitive, Market-Aligned Rates: By specializing in small to mid-size accounting firms, we can offer more predictable premiums and competitive pricing compared to broader programs targeting larger firms.
- Faster, Simpler Service: Our focus allows for quicker quotes, easier applications, and responsive support, so your firm gets coverage without delays or complexity.
- Expertise You Can Rely On: We understand the day-to-day challenges of CPAs, solo accountants, and small accounting practices, providing guidance and coverage tailored to your firm’s specific needs.
Why do I need Accountants Professional Liability Insurance?
Accountants Professional Liability Insurance protects the personal assets of accountants if a client makes a claim. Without it, legal fees, settlements, or lawsuits could put your firm and livelihood at risk.
Why do professional accountants and certified professional accountants (CPAs), and accounting firms need Cyber Insurance?
Accountants and accounting professionals handle sensitive client data, including financial records and personal information. Cyber insurance protects your accounting firm from data breaches, cyber attacks, ransomware and liability if client information is compromised.
How is my premium determined?
Your premium is based on several factors, including your accounting firm’s practice areas, claims history, length of continuous coverage, and the liability limits and deductibles you select. Accountant professional liability policies also follow a step-rate structure, meaning premiums start lower in the early years of your policy and gradually increase as your exposure grows. As your firm accumulates more years of prior acts (years during which a claim could still arise), the premium adjusts accordingly. Once your policy reaches its “mature” year, the premium levels off.
Who is covered under an Accountants Professional Liability Policy?
Coverage typically includes the accounting firm itself, solo accountant or certified professional accountant (CPA) as the “Named Insured,” as well as current, former, and future principals, partners, officers, members, employees and sometimes contract or temporary staff working under the accounting firm’s supervision.
Learning Resources
Why Retiring Lawyers Should Think Twice Before Switching Professional Liability Carriers
Lessons from the Courtroom: Real Cases for Small Law Firms
EBOOK: How Strong Communication Drives Attorney-Client Satisfaction
