3 terms to know before buying an accountant’s professional liability policy

We’ve taken what could be a confusing topic for many accountants and simplified it for you! Here are 3 terms you should know about an accountant’s professional liability policy, broken down into non-insurance language. Gain a better understanding of a claims-made insurance policy; how a step-rate works; and the importance of a policy’s inception or retroactive date. All in under 3-minutes.

What to Know About Professional Liability Insurance
Understanding 3 things:
1.) Claims-Made Policy
2.) Step Rating
3.) Inception (or Retro) Date

AICPA Member Insurance Programs 800.221.3023 cpai.com

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