Accountants Professional Liability Insurance

Claim Examples From Our Files

Even the best accounting and tax professionals have legal and liability exposure

  • Missing Form

    A tax preparer neglects to file a required form, which is not discovered until later years. The client demands that preparer pay resulting interest and penalties. Policy pays the interest and penalties, less the deductible.

  • Third-Party Subpoena

    An accountant’s client is sued, and the plaintiff subpoenas the accountant for documents and extensive history. Policy covers the cost of an attorney to advise client on subpoena and for representation at a resulting deposition, even though there was no E & O claim.

  • Tax Overpayment

    An audit reveals overstated inventory and assets from years prior, but it’s too late to recoup overpayments to the IRS. The client demands that his accountant reimburse him for the overpayments. Policy reimburses client, less the deductible.

  • Disciplinary Hearing

    A disgruntled client files a disciplinary action against her accountant. Policy pays for an attorney to prepare for and represent the accountant at the hearing.

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Endorsed by the National Society of Accountants

The Accountants Professional Liability Insurance Plan is endorsed by the National Society of Accountants and administered by Forrest T. Jones & Company, a national leader in association insurance programs for more than 50 years.