Professional Liability Insurance

Protect your firm from the staggering loss of time and hard-earned money that a lawsuit can cause. TSCPA has partnered with Pearl Insurance, who has been providing professional liability solutions for nearly 60 years, to provide coverage you can count on and at an affordable price.

Complete our Premium Estimate Form for a timely, no-obligation estimate.

Benefit Features

  • New, Lower Rates: Base rates have been decreased by 20%
  • 5% risk management discounts to firms of 1-9 accountants
  • 7.5% risk management discounts 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
  • Bookkeeping
  • Write-ups
  • Reviews (optional)
  • Prior Acts protection is available
  • Complications
  • 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 with more than 50 years of expertise.

  • 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!

Insurance Carrier

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.