Mercator Risk Services, offered through Preferred Concepts LLC, provides Professional Liability coverage tailored for accounting professionals. The program is built to serve a broad range of accounting operations — from solo practitioners and seasonal tax preparers to small and mid-sized firms that perform audits, reviews, tax work, bookkeeping, or consulting. Whether your client handles tax-only engagements or provides full audit and advisory services, Mercator pairs competitive terms with flexible underwriting.
Ideal Accounts and Appetite
This program is a strong fit for:
- Small start-up accounting firms
- Practices focused on tax preparation, including seasonal operations
- Firms that serve specific professions or industries
- General accounting firms with incidental electronic data processing (EDP) work
- CPAs leaving larger firms to start independent practices
- Firms offering general accounting services with some related management consulting
Mercator also reviews hard-to-place risks, including accounts with prior claims or financial impairments. If an account has been declined elsewhere, this program may still be an option.
Coverage Highlights and Advantages
- Professional Liability (Errors & Omissions) coverage for accounting professionals
- Standard limits typically start at $1 million
- Coverage issued on a claims-made basis
- Minimum premiums and deductibles generally start around $1,000—often lower for tax-only operations
- Flexible underwriting to accommodate varied service models and specialties
Accountants face heightened exposure from regulatory scrutiny, audit work, and complex tax matters. This program helps protect firms from the expense of professional liability claims arising from alleged errors, omissions, or negligent advice — including missed fraud, tax preparation mistakes, and disputed consulting outcomes.
Underwriting Notes and Minimum Premiums
Mercator Risk Services offers adaptable underwriting to fit a wide range of firm sizes and risk profiles. They can accept your client’s existing application (excluding renewals) or provide a streamlined, program-specific application. Minimum premiums and deductibles typically begin at $1,000, with potential reductions for low-risk, tax-only practices.
Territories and Availability
This Accountants Professional Liability program is offered on a non-admitted basis and is available in all 50 states plus Washington, D.C. Agents and brokers nationwide can access coverage through Preferred Concepts LLC and Mercator Risk Services.
Why Work With Preferred Concepts LLC
Preferred Concepts LLC provides access to Mercator Risk Services, a wholesale broker with deep experience in professional liability for accountants. They leverage relationships with multiple carriers to place both standard and hard-to-place accounts. Their underwriting approach is practical and responsive, helping you secure tailored coverage for clients who have atypical exposures or limited placement options.
Examples of good-fit accounts you might submit: a CPA who recently left a regional firm to start a solo practice that prepares individual and business tax returns; or a small firm that provides bookkeeping, payroll, and occasional advisory services and needs $1M/$1M professional liability limits. For both, Mercator’s flexible underwriting and program forms can simplify placement.
To discuss a submission or start an application, contact Mercator Risk Services at (860) 527-9717 or email
[email protected]. You can also visit their website at
www.mercatorpro.com for more information on products, applications, and other specialty lines.
Frequently Asked Questions
What types of accounts are a good fit for this program?
This program is ideal for small to mid-sized accounting firms, solo CPAs, and tax preparers. It also works well for firms that perform general accounting, incidental EDP work, or provide limited management consulting.
Can this program cover firms with prior claims?
Yes. Mercator Risk Services will consider hard-to-place and distressed accounts, including those with past claims or documented financial issues, depending on the loss history and current controls.
Is the coverage admitted or non-admitted?
The program is available on a non-admitted basis across all states and Washington, D.C.
Are there minimum premiums or deductibles?
Minimum premiums and deductibles generally start around $1,000. Lower pricing may be available for low-risk, tax-only operations.
What is the application process like?
You may submit your client’s existing application (renewals excluded), or request a program-specific application from Mercator to accelerate underwriting and placement.
Need help placing an account? Connect with a market specialist.