Get a quote in minutes from our trusted insurers
Fast, easy online quote in 90 seconds
No hidden fees or cancellation charges
Tailored levels of cover to suit you
What is accountants’ insurance?
Accountants’ insurance is a specialist type of insurance designed to protect your accountancy business against the unexpected. The work accountants undertake plays a critical role in the financial health of businesses, organisations, and individuals. As responsibilities can include a wide range of tasks, such as ensuring financial records are accurate and filing taxes correctly, you can be exposed to certain risks.
This type of policy includes insurance covers which you are able to tailor to your own unique business and needs, such as professional indemnity, legal expenses, and directors’ and officers’ insurance.
| Professional negligence | |
| Unintentional breach of confidentiality/copyright | |
| Loss or damage to documents |
Why do accountants need insurance?
If you provide professional services and advice to your clients in your accountancy role, securing business insurance will help to protect you against unfortunate events, such as a claim being made against you for incorrect investment advice, the late submittal of official tax paperwork, or a cyber-attack on sensitive data you store.
Professional indemnity insurance is only a requirement for accountants who are chartered accountants, and if you employ anyone in your accountancy role, you are required by UK law to have employers’ liability insurance.
Protect your business today
Find out more about insuring through us
What accountants’ insurance can cover?
Our accountants’ insurance covers your legal costs and expenses in defending a claim, and any compensation or costs that may subsequently be awarded (please check your policy terms and conditions for full conditions), following:
What can be covered:
| Professional negligence – such as making an error in a piece of work for a client, which results in them losing money | |
| Unintentional breach of confidentiality – such as sharing sensitive client information without permission by accident | |
| Loss or damage to documents – our policies can cover the cost of replacing or restoring any document which is lost, damaged or destroyed during the policy year to ensure you can keep trading with minimal disruption |
What cannot be covered:
| Client’s reputational damage – for example, professional indemnity insurance would not cover if your negligence results in your client needing to spend costs to recover from reputational damage | |
| Existing legal issues – for example, legal expenses insurance does not cover the costs of any legal issues which already exist when you secure the insurance | |
| Criminal acts – for example, directors’ and officers’ insurance does not cover claims related to intentional acts of fraud or crime by a director or officer |
Protect your business today
Find out more about insuring through us
Frequently asked questions
These frequently asked questions are designed to help you and include questions relating to policy cover, pricing and ‘technical’ terms.
Browse all FAQsThe ICAEW inform that all chartered accountants are required to have professional indemnity insurance.
No, public liability insurance is not required by law for accountants.
If you have any questions, contact one of our insurance experts here.
Further reading for accountants' insurance
Understanding the different types of business insurance
Written by Michael Lawrence
What is professional indemnity insurance?
Written by Michael Lawrence