Professional Liability Insurance

PROTECTION THAT'S AS BIG AS TEXAS FOR ACCOUNTANTS, TAX PREPARERS & BOOKKEEPERS

You put a lot of time and effort into your profession – it’s your livelihood. You deserve professional liability coverage that fully and affordably protects that investment.

The Texas Society of CPAs has teamed up with Forrest T. Jones & Company (FTJ) to provide members with exceptional professional liability coverage and service.

Members now have access to FTJ’s Dallas-based team of insurance experts led by Joseph Barnard, a Texas CPA with both national and local public accounting experience. His team has been helping CPAs and accounting firms find the right professional liability, cyber, and other business coverage since 1984.

The TXCPA-endorsed program is provided by Berkley Select, a specialist in professional liability for over 30 years. Berkley Select underwrites on behalf of Berkley member insurance companies that are rated A+ (Superior), Financial Size Category XV, by A.M. Best Company. Since 2007, Berkley Select has provided insurance to more than 250,000 accounting professionals.

Features of this Coverage:

Competitive premiums
Claims-made policy form designed specifically to cover a broad range of professional liability risks of CPAs and accounting firms
Up to $5 million in primary limits of liability
Full prior acts coverage available for qualified firms
Duty-to-defend policy language
$100,000 aggregate limit for supplemental coverages:
- Loss of earnings for attendance at trial
- Legal fees incurred in disciplinary proceedings
- Defending discrimination demands
- Nonprofit directors and officers liability claims
- Cost of responding to subpoenas
Damages include punative and exemplary damages (where insurable by law)
50% deductible reduction for use of engagement letters
Option for first-dollar defense
Option for defense costs coverage outside the liability limits
Coverage for investment advisory services
Bi-lateral extended reporting options
Complimentary loss prevention program designed specifically for Texas CPAs and provided by a Dallas-based law firm

Areas of Practice

The Berkley Select policy form insures professional services an accountant, tax preparer, or bookkeeper performs for a fee, however, public audit is not an eligible area of practice under the policy.

The accounting profession is changing rapidly. As Artificial Intelligence encroaches on traditional accounting services such as tax preparation, accounting professionals are moving into new areas of practice such as consulting and new business ventures.

As you begin to offer new services, you need a policy that can keep pace with you and your business as it evolves.

Risk Management Services

Most serious claim scenarios can be avoided through a proactive approach to risk management. Berkley Select offers risk management services to all policyholders.

Services include guidance regarding claims and situations that could possibly lead to a claim. Experts can also address questions concerning best practices, claim avoidance, engagement and disengagement of services and general practice questions.

Risk-management advice is provided by experienced attorneys from law firms specializing in accountants’ professional liability. These attorneys are well-versed in all aspects of the accounting business, from audits, compilations, and reviews of financials to tax matters and other business issues.

Our risk-management partners help accountants minimize, if not eliminate, potential claims by clients and non-clients, disciplinary proceedings, and even criminal prosecution.

About the Underwriter

Berkley Select underwrites on behalf of Berkley member insurance companies that are rated A+ (Superior) by A.M. Best Company in Financial Size Category XV.

In addition, Berkley Select writes professional liability on an admitted basis in all 50 states.

Experienced leadership, comprehensive insurance knowledge, and a well-established reputation for solid underwriting standards allow Berkley Select to provide coverage unsurpassed in the marketplace.

How to Obtain a Quote

Obtain an immediate estimated premium by completing our brief online form. You will receive a prompt hassle-free response. We also can provide you with a cyber insurance quote from ne of our other carrier partners.

One of the leading underwriters in the professional liability market, Berkley Select has consistently been competitive on pricing and coverage as compared to other “A” rated, reputable, and established markets.

Payment Options

Once your insurance coverage has been approved, there are three methods of payment from which you may choose:

Credit card via Mastercard or VISA
Electronic bank withdrawal
Check

GET A QUOTE

For Immediate Service Call:

1-214-593-9152

(Weekdays, 8 a.m. to 6 p.m.)

Sponsored by:
Texas Society of Certified Public Accountants (TXCPA)

Underwritten by:
Berkley Select
550 W. Jackson Boulevard
Suite 500
Chicago, IL 60661

Berkley Select (NAIC # 32603) is licensed to transact business in all 50 United States and the District of Columbia.

Administered by:
Forrest T. Jones & Company
P.O. Box 418131
Kansas City, MO 64141-8131

Regional Office:
Preston Commons
8117 Preston Road, Suite 300
Dallas, TX 75225

Berkley Select is a member company of W.R. Berkley Corporation. Product or services are written or provided by subsidiaries and affiliates of W.R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by an insurer is subject to the actual terms and conditions of the policies as issued and the facts and circumstances of the loss.

The content on this website is provided for informational purposes and is not a legally binding description of coverage that may exist in any policy issued through Forrest T. Jones & Company, its affiliates, or the insurance companies it represents. All conditions of coverage, terms, and limitations are defined in the policy issued to you. Programs and products may not be available in all states.