Professional Liability Insurance
Protect your firm from the staggering loss of time and hard-earned money that a lawsuit can cause. TXCPA has partnered with Pearl Insurance, who has been providing professional liability solutions for 65 years, to provide coverage you can count on and at an affordable price.
- Competitive premium rates!
- 5% risk management premium to firms of 1-9 accountants
- 7.5% risk management premium to firms with 10 or more accountants
- Privacy and information security coverage of $25K
- Ability to utilize multiple deductible reduction options — possibility of a complete waiver with eligible scenarios
- Reputation Protection: covers unfavorable information made available through social media
- No Consent to Settle Hammer Clause
- Pro Bono Professional Services Coverage
- Employee Dishonesty
- Not-for-Profit D&O Coverage
- Equity Interest Coverage
- Net and Privacy Protection
- $600 a Day for Lost Earnings/No Aggregate
- Multiple Limit Options
Equity Plus Endorsement
- Moonlighting for Tax Preparation for partners of the firm
- Partners Extended Reporting Period
- Coverage for IRS 7216 issues with $25,000 expense limits
- Disabled Partner Replacement/addition of $15,000 for fees associated with hiring a qualified temp replacement
- Deductible waived when a claim is successfully closed within one year ($10,000 maximum waiver)
Who Is Covered
- Tax Engagements
- Tax Planning
- Reviews (optional)
- Prior Acts protection is available
- Predecessor firm coverage
- Independent Contractors
- Notary public—if in connection with your accounting services
Frequently Asked Questions
Do I have to be a licensed CPA to purchase this coverage?
You do not have to be a licensed CPA to purchase this coverage. Accounting professionals (e.g., bookkeepers, tax preparers, etc.) who are not licensed CPAs may still be eligible for the program.
Do I need professional liability insurance?
If you are sued for doing your job, you need protection. Don't put your livelihood, reputation, and practice at risk. Insure your business at affordable rates from an A++ rated company provided by an agency who has been in business since 1954.
How much risk is involved with tax return preparation?
Currently, the leading cause of claims involves tax preparation. The fees involved with legal expenses and settlements can threaten the stability of your practice — not to mention take up your valuable time.
I am employed full-time, but want to purchase coverage for "side jobs." Do you offer that coverage?
Yes. We offer "moonlighting" coverage that will protect you for work you perform outside your full-time employment.
How long does it take to obtain a quote?
We are able to offer an underwriting decision within 1-2 business days of receipt of a fully completed submission.
I have already filled out a competitor’s application for my renewal. Do I have to fill out a new application, too?
You may submit a completed competitor's renewal or new business application to us to receive an estimate or quote. You may be required to complete the General Star National new business application if you wish to bind coverage with the General Star National program.
Who underwrites this insurance?
Our A++ rated Accountants Professional Liability Plan is underwritten by General Star National, a wholly owned subsidiary of General Reinsurance Corporation, a Berkshire Hathaway company.
What makes this plan the best value to me as a business owner?
Our Accountants Professional Liability Plan offers the most comprehensive coverage available in the marketplace. Value features of our program include A++ rated coverage, deductible reductions, risk management tools, and more!
The Best Offense Is a Good Defense
We’re dedicated to helping you prevent the headache and hassle that comes along with professional liability claims. That’s why our customers have access to a deep archive of risk management materials designed to help stop claims before they even start.
If you have professional liability coverage through TXCPA, just click the link below, log in, and enjoy the treasure trove of information on how to keep your career safe.
Insurance Carrier<<<<<<< Updated upstream
Underwritten by General Star National Insurance Company, a wholly owned subsidiary of General Reinsurance Corporation, a Berkshire Hathaway company, our Accountants Professional Liability coverage is backed by unmatched financial stability and capability.=======
Underwritten by General Star National Insurance Company, a wholly owned subsidiary of General Reinsurance Corporation, a Berkshire Hathaway company, our Accountants Professional Liability coverage is backed by unmatched financial stability and capability.>>>>>>> Stashed changes
Get A Quote!
Complete our free quote form and your assigned sales representative will provide you with a no-obligation estimate.Go »
Applications & Brochures
If you have any questions, please call:
General Star National Insurance Company is licensed in the District of Columbia, Puerto Rico and all states. Accountants Professional Liability Insurance is not available in all states. General Star National Insurance Company has its principal place of business in Stamford, CT and operates under NAIC Number 0031-11967. Insurance is placed with the General Star companies by licensed producers.