Accountants Professional Liability
Unrivaled capacity, expert underwriting, superior claims handling
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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
Our coverage is uniquely comprehensive, includes up to $5m in limits and covers a wide range of exposures. We also offer a wholesale-only distribution model.
Target classes
Consultants
Financial services
Human resources
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
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
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
Damage caused by abuse of authority when an accounting professional is acting as a trustee or chief financial officer.
Misrepresentation
Misrepresentation in the practice of public accountancy.
Failing to perform services
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
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Contact our experts
Marcia Blanco
Head of E&S Financial Lines
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Nick Mycyk
Underwriting Manager, Senior Vice President, E&S Financial Lines Lawyers and Accountants Professional Liability
Munich Re Specialty - North America
Rebeca Alejandre
Underwriter
Joshua Ramanjulu
Underwriter
Laura DiLallo
Senior Vice President
Kevin Keith
Senior Vice President