accountants and auditors insurance

Auditors & Accountants Professional Indemnity

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In most global jurisdictions, accountants and auditors must carry professional indemnity, or self-insure in order to work with clients and offer auditing services and tax advice. 

As an independent international Lloyd’s Broker, we work with specialist accounting and auditing firms who often have complex tax advice exposure and auditing requirements, often with international and publicly listed clients who may have had previous claims, or required increased limits due to the nature of their business. We work with clients, both in the UK and internationally, who are often unable to secure insurance from domestic insurers / associations due to the complex and high-risk nature of their work. 

Based in the London, we work with specialty syndicates and underwriters at Lloyd’s of London who understand the complexities and challenges faced by our clients to offer a flexible approach in underwriting. All policies wordings and coverages are in line with mainstream institutes and associations, such as ACCA, ICAEW, ICAS and IIA (Chartered Institute of Internal Auditors) in the UK and Ireland.


Accountants and auditors have recently been in the press, portrayed in a negative light in cases of negligence in completing auditors for financial distressed publicly listed firms. Our specialist cover doesn’t just cover acts of negligence and breach of duty – but extensions apply as far as business risk and reputational damage when a high profile claim is pending to ensure the business is able to continue operating whilst ongoing investigations may take place.

Claims Made or Claims Occurring?

It is essential for accountants and auditors to ensure there is no ‘gap in cover’, both from a regulatory perspective and business risk. Most, if not all professional liability policies are underwritten on a ‘Claims Made’ basis – which means you are covered from the period which you are insured. See our blogs regarding the differences in Claims Made & Claims Occurred policies and how these can be best managed. 

Retroactive Date for Previous Works

As most, if not all policies are underwritten under a ‘Claims Made’ basis, ensure that our clients previous work is covered under the ‘Retroactive Date’ agreed with the insurers, which will cover all previous work and advice.  Typically,  the Retroactive Date should be consistent with the date that the business started trading to ensure you are correctly insured for any works previously carried out.  

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