Product Update

Accountants Professional Liability Underwriting and Loss Control Discussions Revised in Professional Liability Insurance

This Professional Liability Insurance release contains a major update of the underwriting and loss control portions of the accountants professional liability section.

As accounting firms seek to diversify revenue streams, many are branching into specialty services beyond the "traditional" scope of accounting. This update highlights some of these services, which are often seen as higher risks from an underwriting and pricing perspective.

Additionally, the update contains a revised discussion of the information required to be provided on an accountants professional liability application. Relying on an application currently in use in the market as a case study, the discussion sheds light on not only what information will need to be gathered for an insured to apply for coverage but also why different pieces of information have underwriting significance. Subscribers can see the types of business practices that they (or their insured clients) can utilize at their accounting firm to be seen as a better risk.

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