Errors/Lapses
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Professional Liability Insurance:
The Foundation of Embroker’s Insurance Programs for Accountants, Tax Preparers, and Bookkeepers
For businesses like yours, the impact of errors can be especially severe.
In our recent survey of more than 200 accountants, 46% reported that they’ve experienced a situation where an error or mistake in their work resulted in financial losses or penalties for their company/client.
These mistakes often come with a price tag.
72% of respondents who experienced an error said that either they or their company were held financially responsible.
As a small business, you simply can’t afford the financial fallout if you make a mistake — or be perceived as having made one.
So, what kinds of professional liability suits do accountants, tax preparers, and bookkeepers get slapped with most often?
Here’s a breakdown:
What About Cyber Protection?
We know that 60% of financial services professionals do most or all of their work digitally, putting them at greater risk of a data breach or cyberattack.
We don’t want to leave you hanging when it comes to real-world risk scenarios (like phishing scams).
That’s why our tailored programs often include additional cyber coverage designed to complement our Professional Liability Insurance.
What Does This Cover?
- Computer Fraud
- Cyber Extortion
- Network Security Liability
- Privacy Liability
- Multimedia Liability
- Business Interruption
More From Our Research:
46%
of respondents have made an error or mistake that resulted in financial losses for their company.
29%
are unsure of what type of insurance company they or their firm has.
60%
do most or all of their work digitally, putting them at greater risk of a data breach or cyberattack.
They also noted that a cyber attack would impact:
34%
Their information
35%
Clients' information
23%
Company information
Get My Tailored Insurance Program
We know that accountants, tax preparers, and bookkeepers face risks beyond errors and cybercrime — and we have a radically simple risk assessment designed to help you identify them. Cover your bases with some of our most popular coverages for financial services professionals like you.
Don’t Just Take Our Word for It!
With a Net Promoter Score (NPS) of 70+ Embroker is the highest rated business insurance company in the market.
NPS Score 2023
