Pennsylvania Errors and Omissions (E&O) Insurance for Accountants
(For accounting professionals in states other than Pennsylvania, please use the menu on the right.)CB Malaga Insurance Services LLC provides errors and omissions (E&O) insurance to accountants, CPAs, auditors, tax preparers, bookkeepers, and enrolled agents in Pennsylvania.
Why do Pennsylvania Accountants need E&O Insurance?
Accountants in Pennsylvania are an easy target for lawsuits in the face of an ever increasing set of complex rules and regulations. Pennsylvania accountants face significant exposure to E&O and malpractice claims, including the following:
Accounting errors Data entry errors Failure to follow Generally Accepted Accounting Principles Failure to follow Generally Accepted Auditing Standards Improper or incorrect tax advice Failure to complete appropriate forms Failure to perform appropriate peer review Failure to detect fraud Failure to meet deadline Failure to maintain appropriate documentation Failure to perform background search Failure to maintain appropriate safeguardsWhat Coverage does an E&O Insurance Policy provide Pennsylvania Accountants?
E&O insurance provides coverage for claims made against Pennsylvania accountants by reason of a negligent act, error or omission in the performance of professional accounting services.E&O insurance policies for Pennsylvania accountants are typically issued on a claims made basis. This type of policy provides coverage for claims reported during the policy period which are the result of on an act, error, or omission incurred on or after the retroactive date. The retroactive date in effect determines the beginning of coverage.