Overview of the Program From Colonial General
Colonial General is a trusted Managing General Agency and Excess & Surplus Lines Broker with access to a variety of carriers, providing flexible solutions for accountants' professional liability exposures. This program is designed to help independent agents place coverage for accounting firms facing risks related to errors, omissions, or negligence in the performance of professional services. Whether your client is a sole practitioner or a mid-sized accounting firm, Colonial General can help you find the right fit.
Ideal Accounts and Appetite
This program is suited for a broad range of accounting professionals, including:
- Certified Public Accountants (CPAs)
- Bookkeepers and tax preparers
- Small to mid-sized accounting firms
- Firms providing audit, consulting, or advisory services
Accounts with a clean loss history and a focus on traditional accounting services are typically a strong fit. Higher-risk exposures such as forensic accounting or investment advisory services may require additional underwriting.
Coverage Highlights and Advantages
Colonial General’s Accountants Professional Insurance program provides protection against claims alleging negligence, errors, or omissions in the delivery of professional accounting services. Key features include:
- Limits available starting at $100,000/$300,000
- Various deductible options to suit different risk appetites
- First Dollar Defense available depending on carrier approval
- Claims Expense Outside the Limits may be offered based on carrier discretion
Coverage terms and premiums will vary depending on the carrier and specific risk profile of the insured.
Underwriting Notes and Minimum Premiums
Each submission is underwritten based on the size, scope, and services of the accounting firm. Clean operations with clearly defined service offerings and low claims frequency are typically easier to place. While minimum premiums are not specified, competitive pricing is available for qualifying risks through Colonial General’s carrier network.
Territories and Availability
This program is available in the following states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Utah, and Wyoming. Colonial General has access to both admitted and non-admitted markets, depending on the specific risk and jurisdiction.
Why Work With Colonial General
With deep expertise in professional liability and access to a variety of national and regional carriers, Colonial General provides agents with responsive service and flexible options for placing hard-to-place or niche accounting risks. Their team understands the unique exposures faced by today’s accounting professionals and works closely with agents to deliver tailored coverage solutions.
Learn more about Colonial General Insurance Agency, Inc.
Frequently Asked Questions
What types of accounts are a good fit for this program?
This program is ideal for CPAs, bookkeeping firms, tax preparers, and small to mid-sized accounting firms providing traditional accounting services.
Are First Dollar Defense and Claims Expense Outside the Limits included?
These features may be available depending on the carrier and underwriting review. Availability is determined on a case-by-case basis.
Can this program cover firms with prior claims?
Firms with prior claims may still be eligible, but underwriting will evaluate the severity, frequency, and nature of past claims before making a decision.
In which states is this program available?
Coverage is available in AZ, CA, CO, ID, NV, NM, UT, and WY.
What documentation is needed to submit an account?
Typically, an application, firm brochure or website, and loss runs (if applicable) are required. Additional documents may be requested based on the submission.
Need help placing an account? Connect with a market specialist.