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ICAEW 1-4 Partners

Why do you need professional indemnity insurance?

Accountancy practices advising clients on their finances comes with high levels of responsibility and risk. Mistakes can happen, but the impact of giving negligent accounting advice would almost certainly result in your client suffering financially.

Should your practice be found responsible for providing inadequate advice that caused your clients to lose money, you need to be sure that your professional indemnity insurance will cover the cost of any compensation you are required to pay. As well as cover any legal expenses incurred defending the claim. 

As well as being mandatory for ICAEW members, having accountants professional indemnity cover in place to deal with claims is vital to protect your business and reassure your clients.

Risk Management

At Bluefin Professions, we offer risk management advice to help mitigate the day to day risks ICAEW members face. We also have a dedicated in-house claims team to help guide you through the claims process step by step, helping to get the right resolution for you. 

What can we do for you?

Bluefin Professions is the exclusively appointed insurance broker for members’ professional indemnity insurance, office insurance, and cyber insurance.

Working closely with the ICAEW, we have developed a professional indemnity insurance (PII) policy that protects members from the specific risks they face as chartered accountants. We currently manage more than 4,300 PII policies on behalf of members.

As well as meeting the minimum requirements set out by the ICAEW, our ICAEW professional indemnity insurance also provides enhanced benefits designed specifically for members, including:

  • Interest-free instalment facility.
  • Automatic six-year run-off provision and renewal process (subject to criteria).
  • Nil first excess (subject to criteria).
  • Free tax advice helpline for you and on behalf of your clients.
  • Free 24 hour legal advice helpline for all partners as well as counselling advice helpline, and health and medical advice helpline for all staff.
  • Additional cover for representation costs.
  • Fixed or long-term policy (subject to criteria).
  • Additional cover for public relations costs.
  • Short proposal form.
  • Cover for loss of documents.
  • Compensation for court attendance.

ICAEW 5+ Partners

As well as being mandatory for ICAEW members, having accountants professional indemnity cover in place to deal with claims is vital to protect your business and reassure your clients.

ICAEW Office Insurance

Having the right office insurance is essential to protect you against damage to your office premises or equipment, minimising the interruption to your business that could lead to loss of income.

ICAEW Cyber Insurance

Working closely with the ICAEW, we have developed a cyber insurance policy that protects members from the specific cyber threats they face as a chartered accountant, whether you are a sole practitioner, work for a small practice or a large firm. 

Sole Practitioners

We understand smaller accountancy practices are often penalised by minimum premium rating restrictions. Exclusively negotiated for members with low fee incomes, our ICAEW professional indemnity insurance product for sole practitioners offers a competitive solution with the levels of cover you need to protect your business.