Product Update

Accountants Professional Liability Insurance Coverage Analysis Updated in Professional Liability Insurance

This release of Professional Liability Insurance includes a complete update of the accountants professional liability coverage analysis section.

The discussion has been updated to reference the evolution in some insurers' "professional services" definition in order to better include administrative and reviewing services in addition to the strictly accounting services. Furthermore, the discussion of commonly provided supplementary payments coverage has been revised to include expenses such as subpoena compliance, privacy breach and remediation, defense of discrimination claims, crisis management, and service as directors and officers of nonprofit organizations.

Other noteworthy updates in this release include discussions of different approaches to defense counsel selection provisions, reimbursement provisions within fraudulent and criminal acts exclusions, electronic data, and confidential information exclusions. Finally, this release includes an updated list of exclusionary endorsements commonly attached to accountants professional liability policies (rather than being found within the standard policy wording).

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