Accountants Professional Liability Insurance
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.
Popular Insurance Terms
Bonds that are sold at discount from their maturity value with the interest compounding and paid at the bond's maturity date. Even though these bonds do not pay interest until maturity, the ...
Same as term Bankers Blanket Bond: coverage for a bank in the event of loss due to dishonest acts of its employees or individuals external to the bank. For example, if a teller goes to ...
Insurance policy that combines the characteristics of a debit insurance policy with that of an ordinary life insurance policy. These policies were historically sold by the debit agent. ...
Gross yield minus total costs (expenses). ...
Insurance policy sold by nonadmitted insurer. ...
Provision in insurance policies that states the deductible. ...
Technique of breaking down the various losses as a whole into useful components called subsets (strata) so that no subset is overrepresented. The result is the classification of losses ...
Determination that policies entered into on or after June 21,1988, that fail the 7-pay test (aggregate premiums paid at any time during the first 7 years of the contract exceed the annual ...
Amendment to a will that adds or modifies clauses in that will, such as adding an additional beneficiary or piece of property. ...
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