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CPA Liability Insurance

If you’re an accountant or a certified public accountant (CPA), you understand most of all the risk you assume in service of your clients. Professionals like you are entrusted not only with someone else’s important financial matters, but also their personal information. If you aren’t managing this risk with a CPA liability insurance policy, it’s time to reconsider.

Insurance Specialists, Inc. is a nationwide insurance broker offering a wide variety of insurance products to individuals and business owners. We have more than 60 years of experience in the insurance industry, matching customers with policies that ensure the most sensitive aspects of their lives are covered.

If you’re looking for a way to protect your business as a CPA or accountant against the impact of liability claims, please reach out to us today to learn more about how we can help.

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Brochure

 

Disciplinary & Regulatory Coverage

  • $50,000 per incident with a $100,000 aggregate. Not subject to the deductible.

Expense Reimbursement

  • $1,250 per day up to $100,000 per policy when attending a hearing or arbitration proceeding. Addition to limit of liability, not subject to deductible.

Subpoena Expenses

  • Unlimited subpoena expense coverage

Discrimination Complaint Coverage

  • Full policy limits for defense and damage protection for discrimination claims or complaints made against you, except claims made by employees

Network Security & Privacy Protection

• Broad coverage endorsements on all policies for network security breach, privacy liability, privacy event mitigation expenses, public relations, electronic media, and regulatory expenses

Definition of Professional Services

  • Broad definition of professional services; can include investment advisory services, business valuation, litigation support, life agents coverage, trustee/executor, other consulting services

Deductible Incentive Coverage Enhancement

  • 100% deductible reduction, up to $30,000, 50% reduction up to next $20,000, if mediation/arbitration used to resolve claim
  • 50% deductible reduction up to $25,000/claim, $50,000 aggregate if engagement letter used other than for audit or review
  • Reduction of 10% (max 50%) each 12 month policy period without a claim

Reduced Deductible With Alternative Dispute Resolution And/Or Mediation Language

  • 100% wavier of deductible up to $30,000; additional 50% waiver up to $50,000 when mediation/ADR language used in engagement letter

IRS Fines and Penalties Coverage Enhancement

  • Up to $50,000 per policy period, for any fines/penalties against you pursuant to Internal Revenue Code Sections 6694, 6695(a), and 7216

Regulatory Consumer Privacy Protection

  • Up to $10,000 in fines, sanctions, penalties against you for failure to comply w/ privacy protection regulations

Limits of Liability & Retentions

  • Limits of liability from $100,000 up to $10,000,000 for select firms
  • Claims expenses in addition to limits of liability
  • Loss only/First Dollar defense deductibles
  • Aggregate deductible options

Additional Claims Expenses Coverage Enhancement

  • If aggregate limit of liability is exhausted by payments of damages or defense costs, and unresolved/outstanding claims, reimbursement is provided for amount equal to 10% of limit, up to max amount of $250,000

Consent to Settle Endorsement

  • A claim will not be settled without your consent

Worldwide Coverage

  • Policy applies anywhere in the world

Pre-Claim Assistance

  • Provides insureds with guidance to mitigate matters that can develop into claims

Loss Control Hotline

  • Assists accountants with advice on claim intervention, appropriate language for engagement letters or client contracts, and maintaining client relationships

Claims Triage Service

  • Used to quickly assess the attributes of a subpoena, incident, or claim

Risk Management Services

  • Best practices, engagement letter/website review, NASBA approved webinars, industry updates, CPA alerts, tax organizer/quality control document/marketing material review

McGowan Program Administrators

  • McGowan Program Administrators (MPA) is America’s leading writer of innovative insurance programs. MPA is a managing General Underwriter and Program Manager. MPA designs, administers and markets highly-specialized programs of insurance.

Hanover Insurance Company

  • A leading property and casualty insurance company dedicated to achieving world-class performance. Our commitment is to deliver products, service, and technology offered by the best national companies.
  • Rated “A” (Excellent) from key industry analysts– A.M. Best, Standard & Poor’s, Moody’s
  • National Company with personal approach, headquartered in Worcester, MA, with more than 40 offices in the U.S.
  • International capabilities through Chaucer, Member of Lloyd’s of London
  • $5.1 billion in total revenues
  • Ranked 506 on Fortune® 1000
  • One of the fastest growing Property & Casualty companies over the past decade

Our Testimonials

Past Members Speak Their Mind
    "Thank you for helping me!"
    Thank you for helping me! It is nice to have a knowledgeable local agent and your process is so much more convenient than what I’ve been dealing with for so many years. Thanks again.
    J.T.
    "I can’t think of any other time I’ve had an assignment executed so quickly."
    Wow. I can’t think of any other time I’ve had an assignment executed so quickly, never mind having two all done! You are definitely the man, Mike. Much appreciated…
    L.K.
    "I really appreciated your explanation regarding our benefits as well as some of the nuances of the policies."
    Thank you for your time this morning during our discussion about my insurance policies. Peter and I really appreciated your explanation regarding our benefits as well as some of the nuances of the policies. What a treat compared to some responses we've gotten over the years - thank you! Hope you had a good rest of the day and that you have a nice week. And thank you in advance for putting together our policy information to send via USPS. Much appreciated!
    B.M.
    "I appreciate your guidance in getting the best plan in place."
    First, I would like to thank you for your assistance in obtaining a $100,000 life insurance policy which is a better plan for me. Jane Corbett, my sister, has been corresponding with, per my authorization. She mentioned to me that you had e-mailed her regarding the cancellation of the $25,000 Policy # MET-2-1543 and $29,000 Policy # MET-2-387 or to just let them lapse. Since the replacement policy of $100,000 is now in place as I received the MetLife Certificate Confirmation Statement along with my Certificateholder Benefit Plan, I am authorizing the cancellation of the two above mentioned policies. Again, I appreciate your guidance in getting the best plan in place.
    R.L.
    "I certainly wish there were more dedicated insurance agents like you."
    I certainly wish there were more dedicated insurance agents like you. I will always want to keep this life insurance for myself and my husband. I guess I need to add a second beneficiary so the benefits won’t be paid to my estate in the event my husband has died before me. Thank you.
    M.P.

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It's What You Deserve
  • We're A Client-Centered & Family-Owned Business
  • We Provide Competitive Rates For Insurance Products
  • We Maintain High-Quality & Exceptional Benefits
  • We Have Over 60 Years Of Experience