Professionals that work with finances and financial information are required to interface with sensitive personal data and operate with a high degree of accuracy. This leads to a great amount of trust from clients and an even greater amount of risk than what is faced in many other fields if that trust is perceived to be violated or if mistakes are made.
Due to that inherent risk and ever-changing financial laws, it’s important to utilize risk management practices and have the right insurance and liability protection in place to safeguard yourself and your business.
E&O is a kind of professional liability insurance that can protect employees and companies from claims against negligent work and mistakes made in professional advice or services given. See Professional Liability
Commercial general liability typically provides coverage in case an injury or damage takes place on a business' property or while a business is operating. For instance, a customer could slip on the floor of your property, or an employee working at someone's home can slip and cause damage.
Business interruption insurance, also known as Business Income insurance, is a form of time-element coverage. It replaces lost income a business would have made during a specific period had no loss occurred. Coverage, however, is triggered only if there is direct physical damage to covered property by a covered cause of loss. Operating expenses can also be covered if a business needs to change locations or make loan payments. However, it often does not protect closed businesses if a pandemic occurs.
There may be certain types of coverage that you’re obligated to carry to fulfill contractual terms set forth by your clients, but many accountants, bookkeepers, and CPAs may have insurance plans that include the following:
Whether you’re doing tax preparations or payroll, your numbers need to add up. That applies to your choice of insurance provider as well. Fill out the quote request form for a free quote and consultation, and we’ll match you with a carrier that can provide you with a tailored plan suited to your specific business needs.
Something many businesses don't know is that commercial insurance carriers have preferences for which types of businesses they insure.
The problem for most business owners is that they don't know which carrier is the best fit for their business, leading to high premiums or declined applications for coverage .
The 321 LaunchPad is connected to the largest network of commercial insurers available anywhere. We match your business with a qualified insurer so you get the right coverage for a fair price.