Accounting Firms Insurance
Directors & Officers Insurance
for Accounting Firms
CPA firm partners and managing directors make significant decisions that affect clients, employees, and the firm's financial health. D&O insurance protects these individuals from personal liability arising from management decisions — including actions by disgruntled clients, former partners, or regulators.
Industry-Specific Insight
Why Accounting Firms Businesses Need Directors & Officers Insurance
CPA firm partners and managing directors make significant decisions that affect clients, employees, and the firm's financial health. D&O insurance protects these individuals from personal liability arising from management decisions — including actions by disgruntled clients, former partners, or regulators.
Coverage Details
What Directors & Officers Insurance Covers
Key protections included in a directors & officers policy for accounting firms operations.
FAQs
Common Questions from Accounting Firms Businesses
Do CPA firm partners need D&O insurance?
Yes. Partners who make management decisions — hiring, firing, firm strategy, fee-setting — can be personally sued for those decisions. D&O protects their personal assets.
Does D&O cover regulatory investigations of an accounting firm?
Some D&O policies include coverage for regulatory investigations and disciplinary proceedings. This is especially relevant for firms that provide attest/audit services.
Does D&O insurance cover fraud?
D&O policies typically exclude coverage for actual fraud or criminal acts where guilt is established. However, they do cover defense costs during an investigation — coverage ends if fraud is proven. This is an important distinction when reviewing policy terms.
Is D&O the same as general liability?
No — general liability covers third-party bodily injury and property damage. D&O specifically covers personal liability of executives and board members for their governance and management decisions.
Complete Coverage
Other Coverages Accounting Firms Businesses Commonly Need
A complete protection plan for accounting firms operations typically includes several complementary coverages.
Accounting Firms · Directors & Officers
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