Accounting professionals handle their client’s risks every day, but they may be the last to think about the risks to their own businesses. Lost or stolen personal data, lawsuits, and accidents can significantly impact a business. People who manage risk at accounting firms can rest assured that The Hartford is there to help businesses reduce risks and prevail through crises and unanticipated losses.
Recommended Coverage for Accounting, CPA and Bookkeeping Firms
Helps protect the property an accounting or finance firm owns and leases, including computers, electronic equipment, furniture, and even fine art. Coverage from The Hartford can be tailored to fit the specific needs of each individual practice:
Many accounting firms have in-house libraries containing books and publications susceptible to fire, water or smoke damage. Business Personal Property helps protect property like accounting libraries and valuable papers.
When employees travel for work, Business Personal Property helps to protect lost or stolen business property including laptops.
Most accounting firms can work out of any office locale but the costs to equip the firm at a new or temporary location can add up quickly, as can the cost to research, replace or restore lost information on damaged valuable papers and records. Extra Expense coverage helps protect accounting firms from these costs.
The Hartford makes it easy for accounting firms to calculate their business income loss based on billable hours. This limits coverage to income that is irretrievably lost for services that could not be performed during the period of restoration rather than revenues, possibly earned prior to the loss, that were not received during this period.
General Liability Choice® from The Hartford covers bodily injury and property damage, including damage to rented properties, and accidents related to running an accounting or finance business. This coverage can be customized to meet the needs of almost any accounting firm. If the accounting firm is in growth mode and acquires another company or adds a division, The Hartford’s policy includes an extended 180-day grace period to cover the change. Employees are automatically covered as defined by the policy, and it’s easy to add others as needed.
Through a unique partnership with Target Insurance Services1, The Hartford offers professional liability insurance to help accounting firms protect against the high cost of a lawsuit arising from client allegations of misrepresentation, fraud, or negligence.
1 Target Insurance Services is not an affiliate of The Hartford.
Helps protect against management liability risks faced by accounting firms and their leaders. Our offering includes:
Directors, Officers and Entity Liability Coverage (D&O) – helps protect accounting firms, their directors, officers and management personnel against loss that arises out of the day-to-day operations and management of the business.
Employment Practices Liability Coverage (EPL) – helps protect accounting firms from damages and defense costs that arise out of employment-related disputes, including but not limited to alleged discrimination, sexual harassment, refusal to hire and wrongful termination or discipline.
Fiduciary Coverage – helps cover employee claims related to the design, administration and maintenance of company-sponsored retirement, health, and other employee benefit plans.
Kidnap and Ransom Coverage (K&R) – helps protect company employees if they are kidnapped in the U.S. or while on business abroad.
Accounting and finance businesses that do work outside the U.S. face distinct risks. The Hartford offers coverage for firms that conduct business overseas but have no permanent employees or locations there. Coverage includes:
General liability coverage for bodily injury and property damage, advertising errors, and medical payment claims that happen outside the U.S.
Property coverage for office equipment and other business property lost or damaged while travelling outside the U.S.
Contingent Hired and Non-Owned Auto liability and Hired Auto physical damage coverage can help pay the losses on rental car accidents that happen outside the U.S.
Employers’ responsibility coverage for employees who get injured or contract a disease while conducting business overseas.
Business Travel Accident and Kidnap Ransom and Extortion coverages support employee and others for safety and well-being while abroad.
24/7 travel support services including emergency medical evacuation, personal services, access to local attorneys, and more.
The Hartford is a leading provider of Workers’ Compensation Insurance, which provides benefits to employees for work-related injuries or illnesses including medical care, wages from lost work time, and more. If an employee is injured or incurs an occupational disease, The Hartford helps return them to work as soon as reasonably possible or to other transitional work and may include training with new skills. Coverage offerings:
The Hartford’s TeamWork® Return-to-Work program helps get injured employees back on the job as soon as medically appropriate.
Our Payroll Billing Option, XactPAY® offers pay-as-you-go workers’ compensation premium payments based on actual monthly payroll figures to help better manage cash flow fluctuations and minimize audit adjustments. Best of all, this is offered at no extra cost.
Helps cover the vehicles that an accounting or finance business owns, leases, rents or borrows. At no additional cost, commercial auto insurance helps cover electronic equipment in vehicles. Lease and loan gap coverage is available as well. The Hartford provides a wide range of specialized services designed to help businesses improve their drivers’ safety.
The Hartford’s innovative Risk Engineering team strives to help accounting and finance firms run safer and ultimately more profitably with loss control services that include risk exposure evaluations, consultations, and recommendations for improving businesses’ safety and security.
The coverages and services described herein are summaries only. All policies should be read carefully to determine exclusions, limitations and other terms and conditions. In the event of a conflict, the terms and conditions of the policy will govern. All coverages and services may not be available for all businesses or in all states. Please contact your agent or broker for details.
Coverage is underwritten by Hartford Fire Insurance Co. and its property and casualty insurance affiliates (CA lic #8701). In TX, this insurance is written by Sentinel Insurance Company, Ltd., Hartford Casualty Insurance Company, Hartford Lloyd’s Insurance Company, Hartford Underwriters Insurance Company, Twin City Fire Insurance Company, Hartford Accident and Indemnity Company and Hartford Fire Insurance Company. In WA, this insurance is written by Hartford Fire Insurance Company, Hartford Casualty Insurance Company, Hartford Accident and Indemnity Company, Hartford Underwriters Insurance Company, Twin City Fire Insurance Company, Sentinel Insurance Company, Ltd. and Hartford Insurance Company of the Midwest.