excess professional liability coverage for accounting firms

Accountants Professional Liability

Our team brings deep knowledge to accounting firm risk.

Thought leadership

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Munich Re Specialty offers Excess Professional Liability coverage that addresses the unique risks your accounting firm clients face. We offer a wide array of solutions, underwriting expertise, and an unparalleled level of service through our select and appointed broker network. Our goal is to help your accountant clients’ businesses thrive today and tomorrow.

Tailored coverage for accounting clients’ distinct needs

Delivering Excess Professional Liability coverage that addresses the unique risks accounting firm clients face. We offer a wide array of solutions, underwriting expertise, superior claims handling and an unparalleled level of service through our select and appointed broker network. Our goal: help accountant clients’ businesses thrive.

Coverage details

Excess coverage – Coverage responds to malpractice claims, including misrepresentation, violation of faith and fair dealing, inaccurate advice, and obligation to pay damages for covered claims as well as the cost to defend against those claims
Experienced underwriters – Knowledgeable of the local market and Accountants Professional Liability exposures
Best-in-class claims teams – Dedicated to handling professional liability claims and committed to expert, speedy claims handling
Underwriting company, Bridgeway Insurance Company, is rated A+ by AM Best
$5m limit capacity — can consider higher limits
Non-admitted in all 50 states
Will consider distressed risks

Large to medium sized accounting firms with up to $500m in revenue.
Excess only — attaching as low as $2m

Claims scenarios

Negligent tax preparation includes conduct such as failing to file a client’s return in a timely manner, failing to list important information on the return, and failing to make a timely/accurate response when tax authorities make inquiries.

Negligent advice is a broader version of accounting malpractice. Examples include giving incorrect tax advice or information to business owners and failing to provide accurate financial statements.

Damage caused by abuse of authority when an accounting professional is acting as a trustee or chief financial officer.

Misrepresentation in the practice of public accountancy.

Failing to perform services in accordance with professional standards:

Giving incorrect tax advice or making tax return errors
Manipulating financial statements or providing incorrect reports to stockholders or partners
Wrongful certification or failure to properly audit financial statements