Ideal accounts and appetite
- Small to mid-sized CPA and accounting firms, including tax preparers, bookkeeping services, and payroll providers.
- Firms performing attest or compilation services, advisory work, and routine tax compliance—especially with documented peer review and quality control procedures.
- Acquisitions: automatic coverage for merged or acquired firms where the acquisition represents less than 10% of the firm’s annual revenue (subject to underwriting review).
- Less suitable: firms with significant investment advisory custody, high-volume fintech integrations without controls, or large national practices without prior placement history—these require pre-submission discussion.
Coverage highlights and advantages
- Broad definition of professional services — flexible wording helps align coverage with modern service lines offered by accounting firms.
- Mutual choice of counsel — provides greater control and alignment when a claim arises.
- Cyber risk management add-on — up to $5,000 for data breach assessment services to help manage privacy incidents and client notification costs.
- Subpoena expense supplementary coverage — helps pay for legal costs associated with responding to subpoenas and regulatory inquiries.
- Incentive for alternative dispute resolution — 50% deductible reduction if a claim is resolved through arbitration or non-binding mediation.
- Primary and excess placements — limits available up to $5 million to match growing firm exposures.
Underwriting notes
ProSight underwriters prefer clear submissions that include firm revenue by service line, partner/owner resumes, client concentration details, loss run history, peer review or quality control policies, and any third-party technology/vendor relationships. Because ProSight reviews each account directly, early phone conversations on borderline or complex accounts can speed placement and reduce revision cycles.
Territories and licensing
This program is available in the following jurisdictions: AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI, WY. ProSight typically operates on a non-admitted (surplus lines) basis where applicable; confirm state filing and surplus lines requirements when submitting.
Example accounts that fit
- A three-partner CPA firm with $1.2M revenue providing tax, compilation, and advisory services with documented internal controls and minimal past claims exposure.
- A boutique payroll and bookkeeping firm seeking a $1M primary limit plus excess capacity, interested in cyber assessment coverage for client data breaches.
Why place this business with ProSight Specialty Insurance
As a carrier known for selective, relationship-driven underwriting, ProSight pairs a flexible professional services definition with practical claim features—mutual choice of counsel, subpoena expense coverage, and incentives for ADR—making it a strong option for agents placing accountants who want broad, service-aligned protection and responsive underwriting. Use this program when you need tailored terms, access to excess capacity up to $5M, or cyber assessment support tied to professional exposures.
Frequently Asked Questions
What types of accounting firms are a good fit for this ProSight program?
Small to mid-sized CPA firms, tax preparers, bookkeeping and payroll firms, and advisory practices with documented quality controls are the best fit. Larger national firms or firms with heavy custody/investment advisory work usually need pre-submission discussion.
Are limits and deductibles flexible?
Limits are available up to $5 million (primary or excess). The program includes a deductible incentive—50% reduction if a claim is resolved through arbitration or non-binding mediation. Exact terms depend on underwriting and exposure.
Does the program address cyber/privacy exposures?
Yes. A cyber risk management add-on provides up to $5,000 for data breach assessment services to help evaluate and respond to incidents. This is designed to complement professional liability coverage for privacy-related professional liabilities.
How should I submit a potential account?
Include firm revenue by service line, partner resumes, client concentration, recent loss runs, and descriptions of peer review or quality control processes. For complex accounts, an early call with underwriting can clarify appetite and speed placement.
Need help placing an account? Connect with a market specialist.