Other Business Insurance Products for Accountants
Risks for Accountants are not only related to practice but to business operations as well. Get covered by other business insurance on top of the above-mentioned policies. These insurance policies below are a recommendation only and are subject to a review of your specific requirements
This insurance type is specifically for private companies and covers claims of wrongful management, employment practices breaches (wrongful dismissal or discrimination actions), crime (theft by employees or third parties), tax audit and statutory fines and penalties.
This insurance protects your business, covering equipment and property damage from accidents, losses due to theft, fire, glass but not limited to. You may also want to consider Business interruption for the potential loss of income, under certain sections of the business policy.
Tax Audit Insurance
Whether you run a small or large business or work as a contractor. This insurance will cover your business for tax auditing by the ATO.
As accountants, you may maintain a website or a digital record of your customers’ personal information, especially online, you are at risk of a data breach. This insurance policy covers you from data theft.
Workers’ compensation insurance is a mandatory requirement for all businesses to cover their staff and contractors in the event of an accident whilst providing accounting services. Locat states have varied guidelines for this type of insurance so it’s best to ask reputable insurers.
Personal Accident and Illness Insurance
This insurance policy is for every individual business owner or contractor, as accidents and sickness do happen to business owners and contractors. This insurance may assist your business to enable you to employ staff to cover you the business owner while you are unable to work.