Insurance for Finance and Accounting Firms in Los Angeles
Coverage for CPAs, bookkeepers, tax preparers, and financial advisors who handle sensitive data and client money. We build around professional liability, cyber, and crime.
Finance firm coverage at a glance
- Who we insure
- CPAs, bookkeepers, tax preparers, and financial advisors
- Core coverage
- Professional liability, cyber, and crime
- Data rules
- Tax professionals must keep a written information security plan
- Biggest risks
- Filing errors, data breaches, and payment fraud
- Quote turnaround
- Usually 1-2 days
Coverage finance firms usually carry
A single filing error, breach, or fraudulent wire can cost a firm more than a year of premium. These are the policies most firms carry.
Professional liability
Covers claims that an error in your work or advice cost a client money.
Cyber liability
Covers breach response, client notification, and ransomware.
Crime and funds transfer fraud
Covers employee theft and money lost to fraudulent payment instructions.
General liability
Covers injuries and property damage at your office.
Workers compensation
Covers employee injuries. Required once you hire.
Employment practices
Covers harassment, discrimination, and wrongful termination claims.
What affects insurance costs for finance firms
Professional liability pricing depends on the services you offer, your revenue, and your clients. Tax and audit work price differently from bookkeeping or advisory services.
Cyber and crime pricing depends on how much client data you hold and how you move money. Multi-factor authentication and call-back verification for payment changes make a real difference.
Ways to lower your premium
- Use engagement letters for every client
- Keep your written information security plan current
- Turn on multi-factor authentication for email and client portals
- Verify payment and banking changes by phone
- Keep your retroactive date when switching carriers
What moves your rate
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Services offered
Audit and tax work carry more risk than bookkeeping.
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Revenue
Larger firms carry more exposure.
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Client mix
Large or regulated clients raise potential losses.
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Data and security
Records held and controls in place drive cyber pricing.
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Claims history
Past claims weigh heavily on pricing.
Finance firm insurance questions
Don't see yours? Call (310) 751-5979 and ask.
Do accountants need professional liability insurance?
Yes. Clients can sue over filing errors, missed deadlines, or advice that cost them money. Professional liability covers your defense and any settlement.
Does professional liability cover a data breach?
Usually not. Data breaches are covered by cyber liability, which most firms carry alongside professional liability.
What is a written information security plan?
Tax professionals are required to keep a written plan describing how they protect client data. Carriers often ask about it on cyber applications.
What if a client loses money to wire fraud?
Funds transfer fraud and social engineering coverage, under a cyber or crime policy, can reimburse losses from fraudulent payment instructions, subject to the policy terms.
Find out what you should be paying
Tell us about your firm. We compare carriers and come back with real quotes, usually within 1-2 days.