Is Your Firm Prepared for a Third-Party Cyber Attack?

Is Your Firm Prepared for a Third-Party Cyber Attack?

Cyber risks can be lurking in the most unsuspecting places. Members of a state professional society recently learned that the hard way. The society’s website had been compromised through a social engineering ploy, which allowed hackers to insert a Trojan virus on the site that targeted the victims. When members logged onto the “members only” area on the website, they were unknowingly giving hackers back-door access to their firms’ computer networks.

How Much Accounting Professional Liability Coverage Should I Buy?

How Much Accounting Professional Liability Coverage Should I Buy?

One of the more important decisions you make as an accountant pertains to your professional liability insurance. No matter how talented you are, you’re human and capable of making a mistake. When that happens, you’ll want to make sure you have adequate insurance coverage.

Prior Acts Coverage and the Retroactive Date

Prior Acts Coverage and the Retroactive Date

Every successful accounting practice needs professional liability insurance to protect the assets of the business and the personal assets and careers of those who practice there. Understanding the components of your policy and what to look for will help ensure you are adequately covered. One area that is important to understand is prior acts coverage and the retroactive date.

Do You Have Gaps in Your Accounting Malpractice Insurance?

Do You Have Gaps in Your Accounting Malpractice Insurance?

It’s great to have professional liability insurance that covers your day-to-day work, and if you’re settled at a firm that provides coverage, you may feel like you’re safe and protected.

If You've Received a Reservation of Rights Letter, Don't Panic

If You've Received a Reservation of Rights Letter, Don't Panic

When you file a claim with your malpractice insurance company, it is standard practice for your insurer to send a “reservation of rights” letter to protect its right to deny coverage if your claim isn’t covered by your policy. It’s understandable that this can sometimes cause a bit of panic. It’s important to understand, however, that receiving this letter does not mean that your insurer is denying coverage.

Tips when Comparing Competing Malpractice Insurance Policies

Tips when Comparing Competing Malpractice Insurance Policies

If you’re opening a new practice, just getting around to buying professional liability insurance, or shopping for a better policy, asking the right questions is critical to getting the best protection and value. Before you sign up, be sure to know the answers to these questions.

Top 5 Reasons Every Accountant Should Have E&O Insurance

Top 5 Reasons Every Accountant Should Have E&O Insurance

Errors and omissions (E&O) insurance policies cover professionals, including accountants, for their losses or liabilities if they make a mistake or commit malpractice. Although it can be uncomfortable to think about needing this kind of protection, E&O insurance is a vital part of your overall professional plan.

Here’s why you should purchase coverage early and ensure that you maintain it through your career.

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