Professional Indemnity Insurance for Accountants

Professional Indemnity Insurance For Accountants

Professional indemnity insurance for accountants is a type of insurance coverage that protects accounting professionals and firms. It protects accounting professionals from financial losses due to professional negligence, errors, malpractice, and omissions while providing accounting services. Sometimes, clients face financial loss due to the advice or activities of accounting professionals. In such cases, clients can sue the professionals, and this is where professional indemnity insurance for accountants in Brisbane comes to their rescue. This type of insurance safeguards accounting professionals against third-party legal claims.

Why Do You Need Professional Indemnity Insurance For Accountants?

Professional indemnity insurance safeguards the accountants and helps them manage and minimise the risks in case they face some legal action from the client. As an accountant or chartered accountant, you can be liable to compensate the client for their economic loss in case of negligence, error or breach of contract. Hence, to protect yourself from such legal actions, buying insurance for accountants in Brisbane or professional indemnity insurance for accountants is necessary.

Benefits of Professional Indemnity Insurance For Accountants

  • Helps in minimising risks
  • Protect against negligence in accounting
  • Protect against errors and omissions in accounting
  • Helps in industry compliance
  • Maintains reputation
  • Legal defence support
  • To get personalised coverage
  • Proves your credibility, trustworthiness, and responsibility towards the clients

What Does Professional Indemnity Insurance For Accountants Cover?

Professional Indemnity Insurance in Brisbane covers the following:
  • Defence costs, fees, and other expenses such as court and other legal costs as per Australian law.
  • Provides coverage for errors, omissions, and negligence while providing accounting services, due to which the client faced financial loss.
  • Coverage for loss of data/documents, theft, and disclosure of sensitive client information.
  • Provides payment for compensation awarded to the client to compensate for the loss or damage.
  • Breach of professional duty or ethical violation while providing accounting services.
  • Assists in resolving contractual disputes with the clients.
  • Provides coverage for legal costs in case of investigations by regulatory 0bodies or professional associations.
  • Provides reimbursement for costs incurred to mitigate potential financial loss.

Exclusions for Professional Indemnity Insurance For Accountants

  • Having penalties and fines
  • Third-party, public liability
  • Exemplary or disciplinary damages
  • Fraud due to dishonesty, criminal or malicious act
  • Violation of law and ordinance
  • Narcotic connection
  • Service provided under the influence of intoxication
  • Financial loss due to loss of goodwill

Why Should You Buy Integrity Insurance’s Professional Indemnity Insurance For Accountants?

Integrity Insurance is one of the best firms; we specialise in handling liability claims. Our expertise and talented team help us provide the best services to our clients. We help you mitigate risks and safeguard against errors or negligence in accounting, financial loss due to such legal claims, etc. Besides this, buying professional indemnity insurance for accountants in Brisbane also shows your credibility and responsibility towards the client.
Integrity Insurance Solutions aims to help clients buy insurance that supports them and protects them from different legal claims. As we have been in this business for years, we understand the industry and specialise in providing professional indemnity insurance for accounts in Brisbane. To learn more about our services, call or email us at [email protected] today.


Yes, a chartered accountant also needs professional indemnity insurance to safeguard themselves against the legal claims and actions taken by third parties and clients. It will also provide coverage in case of contract breach, ethical violations and negligence while delivering business services.
Risks such as providing services in a drunken state, connection or relation to narcotics, acts of war or terrorism, fines and penalties, violation of law, etc., are not covered in professional indemnity insurance for accountants.
Different factors can affect the cost of professional indemnity insurance, such as type of business, risks for the business, location of your company, yearly turnover, credit score of business, age of your business and more.
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