Professional liability insurance for Maine accountants Insurance Broker
Accounting Professionals
1-877-245-5887

Insurance
Solutions for
Accounting
Professionals

Maine Professional Liability Insurance for Accountants

(For accounting professionals in states other than Maine, please use the menu on the right.)

CB Malaga Insurance Services LLC provides professional liability insurance, also known as malpractice insurance, to accountants, CPAs, tax preparers, bookkeepers, and enrolled agents in Maine.

What coverage does a professional liability policy provide Maine accountants?

Professional liability insurance provides coverage for claims made against Maine accountants by reason of a negligent act, error or omission in the performance of professional accounting services.

Professional liability insurance policies for Maine 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.

What policy limits and deductibles are available to Maine accountants?

We offer Maine accountants policy limits of $100,000/$300,000 (per claim/annual aggregate) up to policy limits of $5 million/$5 million. Deductibles starting at $1,000 are available to Maine accountants.

Why do Maine accountants need professional liability insurance?

Accountants in Maine are an easy target for lawsuits in the face of an ever increasing set of complex rules and regulations. Maine accountants face significant exposure to professional liability and malpractice claims, including the following:

    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 safeguards
    Accounting errors
    Data entry errors