As an accounting professional, you provide a valuable service to your clients and you need insurance to cover your business against various professional risks. Preparing corporate tax and consequences of inaccurate financials can lead to lawsuits. Insurance companies like APOLLO offer a customized small business insurance package tailored to fit your accounting business insurance needs.
No matter how much experience an accountant may have in the industry, there is still a possibility that they will be hit with an expensive lawsuit. Mistakes happen, or an irate client might sue their accountant because of a perceived problem. Whether the lawsuit is justified or not, most small businesses would not be able to financially withstand a lawsuit. A professional liability insurance policy is designed to absorb those costs so that your accounting company does not have to.
That’s why insurance for accountants is a smart business decision. Not only do you get the peace of mind that comes with knowing you will not be financially liable in the event of a lawsuit, you are securing the future of your business, personal assets, and professional career.