https://completemarkets.com/company/landy/Tax-Preparers-Bookkeepers-Professional-Liability-Insurance/
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Offered by The Herbert H. Landy Insurance Agency, Inc., the Tax Preparers & Bookkeepers Professional Liability Insurance program is designed specifically for professionals in the accounting and tax preparation industries. Whether your client is a solo tax preparer, a bookkeeping firm, or an Enrolled Agent, this program provides comprehensive protection against claims arising from errors, omissions, and professional negligence in their services.
Overview of the Program From The Herbert H. Landy Insurance Agency, Inc.
As a trusted Managing General Agency with decades of experience in professional liability, The Herbert H. Landy Insurance Agency, Inc. has created a program tailored to the unique risks faced by accountants, bookkeepers, tax preparers, Enrolled Agents, and related professionals. With coverage placed through Great American Insurance Company and Great American Assurance Company, this program offers competitive terms, extensive definitions of professional services, and flexible underwriting solutions.
Ideal Accounts and Appetite
This program is ideal for:
Individual tax preparers
Small to mid-size accounting and bookkeeping firms
Enrolled Agents and consultants offering financial or fiduciary services
Professionals providing services to entities they own or control (excluding audit/review)
You might have clients who offer bookkeeping and tax filing services to small businesses or nonprofits—these are excellent fits for this program. The coverage even extends to notary public duties and investment advisory roles, offering broad protection under one policy.
Coverage Highlights and Advantages
Key features of this professional liability program include:
NEW! EXPRESS Program: 20% premium reduction, zero deductible option, and eligibility for firms with up to $1 million in revenue over three years. Also includes a two-year policy option and self-rating application.
Broad Definition of Professional Services: Includes accounting, consulting, financial planning, notary, fiduciary, investment advisory, arbitrator/mediator services.
Deductible Reduction Options: Up to 50% reduction for engagement letter use, claim resolution via mediation, pro-bono work, and claims-free longevity.
Increased Supplementary Payments: No deductible applies to pre-claims assistance, disciplinary defense ($50,000), cybersecurity incident reimbursement ($25,000), loss of earnings ($100/hour), and more.
Cyber Extension Endorsement: Optional cyber liability coverage with both 1st and 3rd party protections, including data breach response, PCI compliance, reputational harm, and network disruption coverage.
Premium Credit: Available for those who complete qualified risk management programs.
Extended Reporting Period Options: Free unlimited tail coverage for death, disability, and retirement.
60-Day Claim Reporting Grace Period and Confidential Risk Management Hotline access included.
Underwriting Notes and Minimum Premiums
The program offers flexible deductible structures, including aggregate deductible and first-dollar defense. The EXPRESS program allows for a simplified application process for qualifying risks, making it faster and easier to bind coverage.
Underwriters consider revenue, services offered, claim history, and risk management practices. Deductibles can be reduced with effective risk controls and engagement letter use. While minimum premium details are not specified, competitive pricing is available for well-qualified risks.
Territories and Availability
This program is available on an admitted basis in all 50 states and the District of Columbia, including but not limited to CA, FL, TX, NY, IL, and MA. No matter where your client is located, you can confidently offer coverage backed by a strong carrier and experienced underwriting team.
Why Work With The Herbert H. Landy Insurance Agency, Inc.?
With a long-standing reputation for excellence in professional liability, The Herbert H. Landy Insurance Agency, Inc. brings deep expertise, responsive service, and access to top-rated carriers. Their tailored solutions for the accounting and tax prep sector make them a go-to partner for agents and brokers seeking reliable, competitive coverage options.
Whether you're placing a new startup tax preparer or helping a seasoned Enrolled Agent expand coverage, you'll benefit from Landy's streamlined processes, risk management resources, and specialized underwriting support.
Frequently Asked Questions
What types of accounts are a good fit for this program?This program is well-suited for tax preparers, bookkeepers, accountants, Enrolled Agents, and related professionals with up to $1 million in annual revenue over the past three years.
Is coverage available in all states?Yes, coverage is available on an admitted basis in all 50 states and the District of Columbia.
What services are included under the definition of Professional Services?The policy includes coverage for accounting, consulting, financial planning, notary public, fiduciary, investment advisory, and arbitrator/mediator services. Services for entities owned or controlled by the insured are also covered, except for audit and review work.
Are there options to reduce the deductible?Yes, there are five ways to reduce the deductible, including use of engagement letters, claims-free longevity, resolving claims via mediation, pro-bono work, and resolving claims within one year.
Does the program include cyber liability coverage?Yes, a cyber extension endorsement is available that includes first-party and third-party coverages such as data breach response, network disruption, cybercrime, and reputational harm.
Need help placing an account? Connect with a market specialist.
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