Accounting Malpractice Insurance
Account malpractice insurance protects accountants from negligence, errors, and client claims while safeguarding their business and reputation.
Request Your Accounting Malpractice Insurance Quote in Under 60 Seconds
Select your insurance*
Built for Business Owners
Coverage designed with business owners real needs in mind
Real People, Real Service
We answer the phone, return emails, and call you back
Fast and Easy Quotes
Start your quote in 60 seconds, we handle the rest
Trusted by business owners like you. We’ve been featured on…
Highly Rated Carriers to Cover Your Business
Insurance Designed for Accounting Firms, Protecting Every Client You Advise
Accounting malpractice insurance protects your firm from claims arising from professional errors, omissions, negligence, misrepresentation, or missed deadlines. Even small mistakes can lead to costly lawsuits and damage your reputation.
Whether you provide accounting, bookkeeping, tax preparation, audits, or financial advisory services, this coverage helps pay legal defense costs, settlements, and judgments, protecting your business and financial future.
Most Common Commercial Insurance Policies for Accounting Firms
Other Insurance Coverage Accounting Firms Might Need
Commercial Property Insurance
Secure your office and server as well as important equipment against fire, theft or natural calamities
Business Umbrella Insurance
More cover that expands the liability policies on major financial claims
Tools & Equipment Insurance
Computer, calculators and accounting software coverage against accidental damage, theft or loss
How Much Does Accounting Malpractice Insurance Cost?
It will depend on the size of your firm, clients, and the range of services provided. Premiums are generally higher in high volume companies dealing with corporate auditing or financial planning because they are exposed to a greater risk.
Cost influencing factors are:
- Accounting services provided and of what type
- Turnover and number of clients per year
- Employee numbers and sites of the firm
- History of claimed and compliance procedures
- Determined policy limits and deductibles
FAQs about Accounting Malpractice Insurance
What is the coverage of accounting malpractice insurance?
It also includes the legal defense expenses, settlements and judgments arising due to errors, misstatements or professional negligence. These cases may be lost tax filings, bookkeeping mistakes or giving wrong financial advice to the client causing him/her to lose money.
Does accounting malpractice insurance resemble professional liability insurance?
Yes. Malpractice insurance in accounting is a type of professional liability insurance that is particularly applicable to insuring against financial loss of clients due to your professional work or advice.
Who do the most accounting malpractice insurances benefit?
It should be carried by any accounting professional that provides financial or tax service. Small firms, independent CPAs and consultants are the greatest beneficiaries since a single mistake can lead to huge claims or a lawsuit by clients.
What is the extent of coverage that an accounting firm should undertake?
The aggregate limits of most firms range between 1 million and 3 million, although the coverage is based on your value of average projects and client profile. Limit may be raised by firms dealing with audits or corporate returns.
Does malpractice insurance cover intentional or fraudulent acts?
No. Accountants professional liability insurance doesn’t cover intentional or fraudulent acts. However, it provides financial protection for professional services caused by negligence or errors within professional standards.
Does it cover electronic record loss or cyber threats?
Yes. Many quality professional liability insurance plans now include cyber coverage, helping CPA firms and sole practitioners handle professional liability claims arising from data breaches or lost electronic tax returns.
How can accounting firms reduce their malpractice risk?
CPA firms can use AICPA professional liability program tools, engagement letter templates, and risk management resources. These help maintain firm’s reputation, ensure proper documentation, and earn premium credits from their professional liability carrier.
How do I get Accounting Malpractice Insurance?
Accounting Malpractice Insurance is designed to protect accounting professionals from claims arising from professional errors, omissions, and negligence. At Ravine Group Insurance Services, we take the time to understand your accounting practice so your coverage reflects your actual professional exposures.
Tell us about your practice: Share the accounting, bookkeeping, tax, audit, payroll, or advisory services you provide, along with your clients and operations
Review your coverage options: We recommend insurance based on your services, firm size, client base, and professional liability risks
Secure your protection: We build coverage that works together to help protect your accounting practice from costly claims
Ravine Group Insurance Services is a trusted partner, helping accountants, CPAs, bookkeepers, and tax professionals protect their businesses with confidence.
More professions we help insure
Navigate through more blog posts
Tailored Coverage, Your Business
Customized insurance solutions to fit your business.
Reliable Support, Always
Dedicated agents who prioritize your business’s needs.
Hassle-Free Protection
Simple process to get the coverage you need, fast.
Ravine Group is a trusted member of
