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Why do Accountants and Tax Agents need it?

We sort out your insurance when you are busy sorting out your clients’ finance. With a few clicks online or a phone call, you can get competitive quotes from leading insurers, a quick and cost-efficient way to secure the right cover for your accounting practice.

Did you Know?

A $1m Professional Indemnity cover only costs from $1.81 per day.

Professional Indemnity Insurance for Accountants and Tax Agents

Professional Indemnity (PI) insurance is designed to indemnify the insured for a claim that is first made whilst the policy is in force as a result of a breach of professional duty in respect of the conduct of the professional business as an Accountant.

Accountants and Tax Agents generally require professional indemnity to comply with professional association requirements ( e.g. NZICA, CPA), professional standards legislation or to meet the requirements of many clients and/or tender processes.

The professional business of Accountants and Tax Agents covers a broad range of activities.

  • Accounts preparation / bookkeeping
  • Taxation
  • Auditing
  • Business valuations
  • Company secretarial
  • Forensic accounting
  • Receivership/liquidations
  • Mortgage/finance broking
  • Management/business consulting
  • Accounting software programs

Claim example

An accountant acted as a trustee for a happy couple’s family trust. The clients’ marriage broke down and the accountant was accused by the wife of acting in the husband’s interests in the distribution of the assets. Whilst nothing was ultimately proven, the accountant had significant legal costs in defending his actions and position as a trustee. The professional indemnity policy, under the Trustee’s Liability section, met the costs of appointing skilled legal talent and the costs associated with it.