Why do you need professional indemnity insurance for accountants?
Advising clients on their finances comes with high levels of responsibility and risk. Mistakes can happen, but the impact of giving incorrect accounting advice would almost certainly result in your client’s business suffering financially.
Should your business be found responsible for providing inadequate advice that caused your clients to lose money, accountants professional indemnity insurance will cover the cost of any compensation you are required to pay. It will also cover any legal costs incurred defending the claim.
As well as being mandatory for chartered accountants, having accountants professional indemnity cover in place to deal with claims is vital to protect your business and reassure your clients.
At Bluefin Professions, we offer risk management advice to help mitigate the day to day risks accountants face. We also have a dedicated in-house claims team to help guide them through the claims process step by step, helping to get the right resolution.
What can we do for you?
As one of the UK’s largest insurance brokers, our accountants insurance experts work with over 5,500 accountants and accountancy firms from all areas of the profession, including:
- ACCA (chartered certified accountants) members.
- ICAEW (chartered) members.
- ICAS members.
- Other accountants.
Working closely with the ICAEW, we have developed a range of insurance products that protect members from the specific risks they face as a chartered accountant, whether you’re a sole practitioner or work in practice.
Our professional indemnity product for members of the Association of Chartered Certified Accountants (ACCA) provides insurance cover designed especially for members’ needs.