Providing a professional service comes with many risks, but having the right insurance can mitigate those risks and let you rest easy. If you own a firm that specializes in accounting or financial services, then CPA professional liability insurance is right for you.
What Professional Liability Insurance Is
Mistakes happen in all industries, but in some professions these mistakes can be costly and highly damaging for you and your clients. This type of insurance is ideal for financial businesses of all sizes, although the plans themselves will vary depending on the size of your company and the revenue you generate.
Professional liability insurance protects your company from being sued in the unlikely event that something goes wrong and a customer is unhappy. For example, an error on a tax return or financial statement can cost your client thousands of dollars. If that client decides to sue you, this insurance can help in the following ways:
- Cover legal fees
- Defend your business assets
- Protect yourself and your employees
Protecting Your Company With PLI
You can protect yourself and your business against mistake with the right insurance. Having CPA professional liability insurance in place means you can carry on with business as usual and feel secure in the security this insurance offers against lawsuits and other complications.