Accountants Professional Liability Insurance


Definition of "Accountants professional liability insurance"

Terri Doyle real estate agent
Terri Doyle CT Hometown Realty, LLC

Insurance for accountants covering liability lawsuits arising from their professional activities. For example, an investor bases a buying decision on the balance sheet of a company's annual statement. The figures later prove fallacious and not according to generally acceptable accounting principles (gaap). The accountant could be found liable for his professional actions, and would be covered by this policy. However, if the accountant ran over someone or damaged property with a car, this policy would not provide coverage.

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