Insurance for CPA and accounting firms
Accountants hold a client’s tax records, bank details and trust. Professional liability covers an error in the work, and the rest of the program covers what happens around it.
What to watch for
Errors and deadlines. A missed filing or a miscalculation can turn into a claim against the firm.
Stored client data
Tax software and shared drives hold Social Security numbers and bank details.
Funds movement
Payment instructions and refunds are a common target for fraud.
Staying in your lane
Advising outside your license is where good professionals get into trouble.
Coverage for this business
Every business is placed a little differently. These are the policies we talk through most often, and a conversation with Kristi will tell you which ones your business actually needs.
Accountants' professional liability
Claims about the firm’s accounting, tax or advisory work.
Cyber liability
Data breach response and fraud coverage.
Employment practices liability
Hiring, firing and workplace claims.
Business owners policy
Office property and general liability together.
Workers' compensation
Not required in Texas, but you are still liable for employee injuries. Workers’ comp moves that risk to a carrier.
The CPA and the vending machines
A CPA told me one of his clients wanted to put vending machines on a school campus. She expected about $4,000 a month, and he was advising her on whether to form an LLC. I asked him why he was giving legal advice, and whether she had talked to a risk advisor. She hadn’t. Nobody knew what it would cost to insure.
Questions we hear
The short versions of conversations Kristi has with business owners every week.
Should my CPA tell me whether to form an LLC?
Your CPA can explain the tax side. The legal decision belongs with a business attorney, and the insurance question belongs with a risk advisor.
Does my firm need cyber coverage?
If you hold client financial data, yes. It is one of the exposures that grows the most.
What does professional liability not cover?
Typically not intentional acts, and often not work outside the scope of your engagement. Read the exclusions with your agent.
Ready to have someone in your corner?
Book a free consultation. We’ll walk through your business, identify the gaps, and build a strategy that actually fits.