professional indemnity insurance for accountants

Professional Indemnity Insurance : Accountants

 

Professional indemnity insurance indemnifies you from the legal liability and legal defence costs you may incur as a result of breaching a duty of care to your clients.

Accountancy is a traditional profession having various professional bodies with differing membership requirements in relation to professional indemnity insurance. Often practices consist of professionally qualified members and unqualified but experienced members. Mixed practices are commonplace with a meeting of qualifications from the different professional bodies. The work of an accountancy practice is often diverse and it is important to understand and appreciate the risks that can be associated with each.

Blackfriars will provide professional body compliant quotations in respect of your professional indemnity insurance, working with a panel of insurers who have taken time to fully understand the disciplines and operations involved within your business. Please complete the form and submit for a quotation. Satisfactory completion will enable us to produce a quotation within 1 working day, often within one hour. Certain risks may require further information.

Please complete the enquiry form as fully as possible and submit to us for a quotation for accountants professional indemnity Insurance.

Alternatively, please download the blank proposal form here, complete as far as possible and follow the instructions on page 1 of the form for submission to Blackfriars

If you have already completed a proposal form, or a renewal form, you may submit that to pii@blackfriarsrgoup.com or by fax to 0845 838 7966 or by mail to Blackfriars Group, 6 Congleton Road, Sandbach, Cheshire. CW11 1HN.

Professional Indemnity Insurance for Accountants and Accountancy Firms
Title Of The Proposer
Proposer's First Name
Proposer's Surname
Company Name
Address First Line
Address
Town
County
Postcode
Telephone Number
Fax Number
Email Address
Date Cover Required from
What Type of Company
Trading From (Date)
Retroactive Date See glossary
Limit of Indemnity See glossary
Excess see glossary
Is the company domiciled outside the UK? details if yes
Has there been any change in Business Activities in the last 12 months? details if yes
Do you anticipate and changes in the Business Activities in the next 12 months? details if yes
Do you generally obtain written instructions from clients in respect of work you are to undertake for them? details if yes
Do all Directors/Partners have professional Qualifications or at least 5 years experience?
Number of Directors/Partners
Number of Professional Qualified Staff
Number of all other staff
Do you use Independent Consultants as sub-contractors? details if yes
Do you obtain references when engaging new staff  
Current Year Gross Income   Last Years Gross Income £
Largest Fee £ Estimated Gross Income £
Financial Year End DD/MM/YY
Category of Business % of Fees  
Plc Audit/accounts/co. Tax  
Other Co. Audit/accounts/tax  
Management Consultancy  
Insolvencies/liquidations  
Directorships  
Taxation  
Non Life/pension Insurance  
Life/pension Insurance  
Investment Advice  
Entertainment/leisure  
Any Others
During the last 10 years have you advised, arranged or transacted on any aspect of opt ins/outs of Occupational Pension Schemes?
Have you ever carried out work for any Lloyds syndicate, member or members agent other than personal taxation work?
Have you in the last 6 years advised on mergers or acquisition proposals?
Are you registered and regulated by the Institute of Chartered Accountants?
Do you undertake work for clients domiciled outside the UK? details if yes
Do cheques need to be signed by more than one person? details if yes
Have you had and claims or are you aware of any incidents that may give rise to a claim? details if yes
Have you ever had insurance refused or cancelled or any special terms imposed by underwriters details if yes

professional indemnity insurance for accountants

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