Accountants Professional Liability
Our team of experienced underwriters has extensive knowledge in risk assessment and prides itself on delivering customized and innovative insurance solutions.
Accountants Professional Liability provides coverage for CPA firms performing both traditional tax and accounting services as well as specialty services such as personal financial planning, information technology consulting, and litigation consulting.
Product Highlights
- Broad definition of Insured includes independent contractors and any predecessor firm.
- Broad definition of professional services includes financial planning services and services as a consultant, arbitrator, mediator or notary public.
- Worldwide coverage – the policy applies to wrongful acts committed anywhere in the world.
- Coverage extensions up to $10,000 annually for legal counsel to address disciplinary proceedings and responsesto subpoenas and up to $5,000 for litigation expense reimbursement.
- Retention reduced by 50% up to a maximum of $25,000 where claims are fully and finally resolved through voluntary mediation.
- Coverage for claims by outside business enterprises allowed where the Insured owns up to 30% voting power for election of directors.
Underwriting Considerations
- Acceptable risks include firms with at least 75 professionals, subject to a minimum annual revenue threshold of $17,500,000.
- For those accounts with less than 75 professionals and revenues below $17,500,000, Catlin offers a program product through Arrowhead General Insurance Agency, Inc.
Limits
- Up to $10,000,000.
- Up to $5,000,000 for firms that perform public audit work.
Programme Parameters
- Primary and excess coverage available.
- Product offerings are underwritten through the following companies: Catlin Specialty Insurance Company, Catlin Insurance Company, Catlin UK, Catlin Bermuda, and the Catlin Syndicate. All companies have been assigned a Best rating of “A” (Excellent) XIII.
Contact
John Lopes | 212-801-3411 |
john.lopes@catlin.com
Jerry O’Dwyer | 212-801-3422 |
jerry.odwyer@catlin.com