What is Professional Liability insurance?
Also known as professional indemnity insurance, error and omission insurance, or malpractice insurance, an accountants professional liability policy insures you and your accounting practice from clients or other third parties claiming that your professional services caused them financial harm. Quality professional liability insurance is a must--especially for CPAs. Professional Liability insurance not only can help protect you, your employees and your business financially by providing a defense and paying damages in the event of a claim, but also helps to maintain your firm’s reputation when facing allegations of errors in your professional services.