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Accountants

Business Insurance Specialists Pty Ltd provides insurance for the Accounting profession including Professional Indemnity and Office Insurance.

Accountants

Business Insurance Specialists Pty Ltd provides insurance for the Accounting profession including Professional Indemnity and Office Insurance.

Accountancy as a profession came to the fore when Luca Pacioli made Double Entry bookkeeping ‘the way’ to keep and maintain your books and allowed a business to keep a historical record of their finances. Luca was from the time of Leonardo Da Vinci who was his best mate. For quite a while after this, growing up to be an Accountant was like being a rock star, except maybe you did not get the babes. If you were from a well to do family back in the day, you would want your sons to either be, an accountant, a priest, or a general.

Services

The range of services now being offered by accounting practices is very broad and comprehensive. In today’s environment, Accountants are becoming very much the in-house business advisor, and offering more and more consulting services to their clients.

Potential activities of an Accountant are provided below:

Audit;

Tax lodgement;

Bookkeeping / Payroll services;

Executorship & trusteeship;

Directorships;

Insolvencies, liquidations & receivership;

Mergers, acquisitions, disposals;

Management consultancy;

Receivership services;

Pure accounting services;

Business or share valuations;

Third-party arrangement of insurance, financial services and investments;

Secretarial & share registration;

Investment advice;

Sharebroking

Accountants provide professional advice, therefore, Accounting Professional Indemnity insurance is a very important and integral part of your overall insurance programme.

Professional Indemnity Insurance

Because accounting services can be so broad, the Professional Indemnity insurance exposures are many.

Some of the more common sources of claims include:

Breach of professional duty of care including negligent acts, advice, errors or omissions;

Wrongful/erroneous advice and work;

Breach of contract;

Lack of professional conduct;

Errors in financial reporting, statements of clients;

Conflict of interest;

Not paying attention to details;

Loss of documents or data entrusted to the insured;

Unintentional breach of confidence, confidential duty or misuse of information;

Unintentional breaches of the Trade Practices Act;

Breaches of Data Protection/Privacy legislation.

Invasion of privacy;

Business Insurance Specialists Pty Ltd can provide Professional Indemnity insurance to meet your Accounting insurance needs.

Office Insurance

As your insurance broker, we also have access to office and business insurance package policies that are specifically designed for Accountancy Practices. These policies provide coverage with unique multiple benefits such as:

Whilst acting as Receiver - Automatic cover $ 250,000 Contents / 90 days from appointment

Event cancellation coverage

Computer Breakdown

Unlimited Indemnity Period for business interruption

Full Accidental Damage