https://completemarkets.com/company/mcgowancompanies/accountants-professional-liability-insurance/
MCGOWAN, DONNELLY & OBERHEU, LLC
Accountants Professional Liability Insurance
Overview of the Program from The McGowan Companies
The McGowan Companies places Accountants Professional Liability Insurance through its wholesale brokerage relationship with MCGOWAN, DONNELLY & OBERHEU, LLC. This program is designed to help independent agents place hard-to-place CPA and accounting firms that need professional and management liability protection. Coverage options include primary and excess limits placed with a variety of admitted and non-admitted carriers, depending on the risk.
Ideal Accounts and Appetite
Target classes: small to mid-size CPA firms, tax preparers, bookkeepers and specialty accounting practices that are hard to place in standard markets.
Good fits: firms with prior claims history that is manageable, firms with unusual service mixes (for example, payroll, bookkeeping and tax prep together), and practices seeking layered or excess capacity.
Typically limited appetite: large national firms, firms with ongoing regulatory investigations, firms with multiple severe or recent malpractice judgments that are unresolved.
Coverage Highlights and Advantages
Products offered: Professional & Management Liability tailored for accounting professionals.
Limits: Primary and excess limits are available to match client needs and to provide layered protection where required.
Carrier access: Carriers vary by submission — McGowan’s wholesale placement leverages multiple markets to find capacity and terms for harder-to-place accounts.
Flexible placements: Ability to consider admitted or non-admitted options in most states to help secure coverage when standard markets decline.
Underwriting Notes
Underwriters focus on scope of services, firm controls, engagement letters, fee concentration, prior claim history and client industries. When submitting, include a current application, prior acts and claims details, sample engagement letters and loss runs if available. Complex or higher-exposure accounts may require supplemental information, risk management controls, and consideration for higher retentions or tiered limits.
Minimum premiums and retentions are determined by carrier appetite and proposed limits. Please expect variation by state and market; discuss specific program minimums with your McGowan wholesale underwriter when preparing a submission.
Territories and Availability
This program is available in most states. Specific availability includes: 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. Admitted availability varies by carrier; non-admitted options may be used where appropriate.
Why Work with The McGowan Companies on This Business
Wholesale broker expertise: McGowan provides access to multiple carriers and specialized appetite for accountants’ professional liability risks.
Placement flexibility: Ability to pursue both primary and excess layers and to tailor solutions for firms with non-standard exposures.
Support for difficult accounts: Strong track record placing hard-to-place firms that need customized terms or markets outside standard schedules.
Examples of Typical Accounts
You have a regional CPA practice that combines tax, bookkeeping and payroll services and has one prior closed claim — this program can help secure primary limits and offer excess capacity.
You represent a bookkeeping firm with concentrated revenue from a single industry and limited malpractice history — the program can evaluate and structure terms to address fee concentration exposure.
Products: Professional & Management Liability
Eligible Classes: Hard to Place Firms
Limits: Primary & Excess Available
Carriers: Varies
Provider: Wholesale Broker (The McGowan Companies / MCGOWAN, DONNELLY & OBERHEU, LLC)
For more information on Accountants Professional Liability Insurance, please contact us to discuss submissions, appetite, and current market capacity.
Frequently Asked Questions
What types of accountants’ firms are best suited for this program?Firms that are hard to place in standard markets — small to mid-size CPA firms, tax preparers, bookkeeping practices and mixed-service firms — are the primary targets. The program is designed to consider accounts with nonstandard service mixes or manageable prior claims.
Are admitted paper and excess limits available?Yes. This program can place both admitted and non-admitted options, and primary and excess limits are available depending on carrier appetite and state availability.
What information should I include with a submission?Include a current application, description of services, engagement letter samples, prior loss runs, and details on any prior or pending claims. Clear documentation of controls and revenue concentration helps underwriters evaluate the risk.
Need help placing an account? Connect with a market specialist.