Professional liability insurance for New York accountants Insurance Broker
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New York Professional Liability Insurance for Accountants

(For accounting professionals in states other than New York, 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 New York.

What coverage does a professional liability policy provide New York accountants?

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

Professional liability insurance policies for New York 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 New York accountants?

We offer New York 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 New York accountants.

Why do New York accountants need professional liability insurance?

Accountants in New York are an easy target for lawsuits in the face of an ever increasing set of complex rules and regulations. New York 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