Producer Resource Center

Accountants Professional Liability Insurance

The Landy Agency’s Accountants Professional Liability Insurance program offers independent insurance Agents and Producers access to coverage that is designed to protect a broad range of professional services and types of practice. Policies are provided by an A+ Superior-rated carrier, and offers coverage solutions for CPA’s, Accountants, Enrolled Agents, Tax Preparers and Bookkeepers. Coverage endorsements are available for Life Insurance Agents, Registered Representative, Cyber, Third Party Discrimination and Employment Practices.

The Accountants Professional Liability insurance program includes, at no additional premium, a robust Risk Management component, featuring webinars, CPE credits, Pre-Claims Service, Legal Hotline and available premium credit. The plan is admitted and available
in all states except LA and AK.

Applications, Specimen Policy and Related Program Documents
For Accountants, Enrolled Agents and Tax Preparers

• Accountants New Business Applications and Specimen Policies by State
• Coverage Highlights Sheet - All States (PDF)
• New York Coverage Highlights Sheet (PDF)
  
• Information on How to Complete the Application (PDF)

Risk Management Assistance

Legal Hotline and Pre-Claims Assistance 855-424-2468
No-Cost Quarterly Webinars
Earn CPE credits and premium discounts (where applicable)

• Risk Management Program Information (PDF)
• Risk Management Website & Resources for Policyholders
• Pre-Claims Service (PDF)

Accountants Professional Liability Coverage Features:

check_circleBroad Definition of Professional Services includes accounting, accounting consultant, investment advisor, bookkeeper, Enrolled Agent, tax preparer, personal fiduciary, notary public, member of formal accreditation, standards, review or similar board related to the accounting profession, and arbitrator or mediator.
check_circleSelf-Rating Express application for eligible firms offers easy-to-use convenience for Producers and Insureds.
check_circleOptional Coverage is available for cyber insurance, life insurance sales, Registered Representative services, Third Party Discrimination and Employment Practices Liability.
check_circleMultiple Deductible-Reduction Options.
check_circleInitial Claim Expense Limit-Protects Against Erosion of Policy Limits by Legal Fees.
check_circleUnlawful Use, Theft or Embezzlement of Funds by Insured - $50,000/Policy Period.
check_circleSee our Accountant Highlights for complete program features.

Common Professional Liability Questions for Accountants Is the Risk Management program available with all policies purchased, including with the Express application? Yes, the components of the Risk Management program are included at no additional premium with any policy purchased in this program. They include quarterly webinars providing CPE credits to all professional staff, an exclusive website providing sample professional letter templates and educational material, Pre-Claims Service and a Legal Hot-Line. Are there differences in coverage when using the Express application vs. the Standard application? There are no differences in the policy coverages when using either application. Should the applicant desire coverage endorsements for life insurance sales, Registered Representative, Third Party Discrimination or Employment Practices Liability, however, the Standard application and General Supplement must be used, even if the applicant is otherwise eligible to use the Express. Are there Supplemental Coverages in the Policy for Disciplinary Hearings, Subpoena Response, etc? There are several Supplementary Coverages with sub-limits included. No deductible applies to these, and they include Defense of Disciplinary Actions, Reimbursement for Security Incident, Reimbursement for Loss of Earnings while attending a hearing, trial, or arbitration meeting at the Company’s request, Subpoena Expenses, Non-Profit Directors & Officers Coverage, Public Relations Crises Expenses and Pre-Claims Assistance.

A Note about Cyber Liability Insurance: Cybercrime is a significant threat to all accounting professionals, who store, have access to and otherwise utilize privileged and confidential information. An optional Cyber Liability Insurance Endorsement is available to provide broad protection for the consequences and costs associated with Cyberattacks, Privacy Breaches, Ransomware and Computer Fraud.

For More Information Contact 800-336-5422

Stephanie McNamara at 781-292-5407 or Betsy Magnuson at 781-292-5408