If you own a premises, office insurance covers your office buildings, contents and computer equipment against accidental damage (including theft) whilst on your business premises. Occupational personal accident insuranceOccupational personal accident insurance can provide you with a weekly payment in the event you are injured (resulting in temporary total disablement) in the course of your work (subject to a 14-day deferment period) and unable to work. Many self-employed professionals choose this cover to maintain a regular source of income should an unexpected accident at work happen.Additionally, it can provide you with a lump sum payment in the event of:- Loss of hearing- Loss of speech- Loss of limb(s)- Loss of sight- Permanent Disablement- Death Occupational personal accident insurance can provide you with a weekly payment in the event you are injured (resulting in temporary total disablement) in the course of your work (subject to a 14-day deferment period) and unable to work. Many self-employed professionals choose this cover to maintain a regular source of income should an unexpected accident at work happen. Additionally, it can provide you with a lump sum payment in the event of: Cyber and data risks insuranceCyber and data risks insurance is an important cover that protects against the costs involved with a cyber attack, including:restoring data and equipmentinforming clientsmeeting ransom demandsloss of your net profitIt covers your defence costs, as well as any damages you are liable to pay third parties.

Insurance policies must be reviewed annually to ensure they meet updated legal minimums.
Notify your insurer immediately if your business activities change to avoid invalidating cover.
Keep all insurance certificates and policy documents accessible for inspection by authorities.
Use a broker specializing in your industry to navigate complex minimum requirement landscapes.

You may wish to consider this cover to protect against confidential information about your clients' finances being stolen from internet-connected devices. Cyber and data risks insurance is an important cover that protects against the costs involved with a cyber attack, including: It covers your defence costs, as well as any damages you are liable to pay third parties. Public and product liability insurancePublic and product liability insurance provides cover if someone is injured, or their property damaged, in the course of conducting your accountancy business. This could be, for example, if a visitor to your office were to slip on a wet floor, or if you were to accidentally damage a client's laptop during a meeting (e.g. It covers the legal costs involved with defending your business, as well as any compensation that may be due to third parties. Public and product liability insurance provides cover if someone is injured, or their property damaged, in the course of conducting your accountancy business.

Public Liability insurance is not a legal minimum but is often required for contracts and leases.
Professional Indemnity insurance is a legal requirement for certain professions like financial advisors.
Motor insurance is a legal minimum for any company vehicles, with at least third-party cover.
Product Liability insurance may be required if you manufacture, supply, or repair goods.
Directors' and Officers' Liability insurance is not legally required but is critical for risk management.

Do accountants need professional indemnity insurance?PI insurance for accountants is a vital component of any accountancy insurance package for a number of reasons. Firstly, it’ll pay your legal fees if you’re accused of professional negligence, and it’ll also cover any compensation you may be liable for. Secondly, accountants professional indemnity insurance is a requirement of most accountancy regulatory bet betting welcome bonus no deposit bodies or membership associations, so if you don’t have in place, you’re unlikely to be able to sign up. PI insurance for accountants is a vital component of any accountancy insurance package for a number of reasons.

Does PI cover work done before joining the practice?

What are the AAT insurance requirements?The AAT's require licence holders to hold professional indemnity insurance which:is on an 'any one claim' basisincludes civil liability coveris fully retroactiveThe limit of professional indemnity insurance the AAT require licence holders to hold is dependent on the firm's gross fee income, and:For sole traders, the required professional indemnity limit is the higher of:2.5 times the firm's gross fee income; or£50,000For partnerships, the required professional indemnity limit is the higher of:2.5 times the firm's gross fee income; or£100,000For limited companies, the required professional indemnity limit is the higher of:2.5 times the firm's gross fee income; or£100,000Additionally, if the gross fee income of your firm is greater than £400,000, the maximum level of cover required is £1,000,000.Please note this is provided for information purposes only and members should refer to the AAT website for full details.

When hiring subcontractors, ensure they hold their own EL insurance to avoid liability transferring to you.
For joint ventures, a project-specific insurance package meeting all parties' minimums is often required.
When working overseas, local statutory insurance minimums must be met, which can differ significantly.
For mergers and acquisitions, due diligence must verify all target company insurance meets legal minimums.
Temporary event insurance must meet local authority requirements for public safety and liability.

The AAT's require licence holders to hold professional indemnity insurance which: is on an 'any one claim' basis The limit of professional indemnity insurance the AAT require licence holders to hold is dependent on the firm's gross fee income, and: For sole traders, the required professional indemnity limit is the higher of: 2.5 times the firm's gross fee income; or For partnerships, the required professional indemnity limit is the higher of: 2.5 times the firm's gross fee income; or For limited companies, the required professional indemnity limit is the higher of: 2.5 times the firm's gross fee income; or Additionally, if the gross fee income of your firm is greater than £400,000, the maximum level of cover required is £1,000,000. Please note this is provided for information purposes only and members should refer to the AAT website for full details. What are the ACCA insurance requirements?The ACCA's minimum professional indemnity insurance requirements is calculated in relation to your business' annual fee income.If your annual income is less than or equal to £200,000, the required professional indemnity limit is the higher of:2.5 times the firm's income; or25 times the largest fee raised by the firm during the relevant accounting year; or£50,000If your annual income is £200,000 bet new customer bookmaker offers - £700,000, the required professional indemnity limit is the higher of:the aggregate of £300,000 and your total income; or25 times the largest fee raised by the firm during the relevant accounting yearIf your annual income is over £700,000, the required professional indemnity limit is the higher of::£1,000,000; or25 times the largest fee raised by the firm during the relevant accounting yearPlease note this is provided for information purposes only and members should refer to the ACCA website for full details. The ACCA's minimum professional indemnity insurance requirements is calculated in relation to your business' annual fee income. If your annual income is less than or equal to £200,000, the required professional indemnity limit is the higher of: 2.5 times the firm's income; or 25 times the largest fee raised by the firm during the relevant accounting year; or If your annual income is £200,000 - £700,000, the required professional indemnity limit is the higher of: the aggregate of £300,000 and your total income; or 25 times the largest fee raised by the firm during the relevant accounting year If your annual income is over £700,000, the required professional indemnity limit is the higher of:: 25 times the largest fee raised by the firm during the relevant accounting year Please note this is provided for information purposes only and members should refer to the ACCA website for full details. What are the CIMA insurance requirements?A CIMA Member in Practice is required to hold professional indemnity insurance, however CIMA does not advise on the level of cover your business is likely to need.We offer a range of limits of professional indemnity insurance for CIMA members, and our article 'how much professional indemnity insurance do I need?' may assist with your decision.Please note this is provided for information purposes only and members should refer to the CIMA website for full details. A CIMA Member in Practice is required to hold professional indemnity insurance, however CIMA does not advise on the level of cover your business is likely to need. We offer a range of limits of professional indemnity insurance for CIMA members, and our article 'how much professional indemnity insurance do I need?' may assist with your decision. Please note this is provided for information purposes only and members should refer to the CIMA website for full details.

Do accountants need insurance?

If you own a premises, office insurance covers your office buildings, contents and computer equipment against accidental damage (including theft) whilst on your business premises. Occupational personal accident insuranceOccupational personal accident insurance can provide you with a weekly payment in the event you are injured (resulting in temporary total disablement) in the course of your work (subject to a 14-day deferment period) and unable to work. Many self-employed professionals choose this cover to maintain a regular source of income should an unexpected accident at work happen.Additionally, it can provide you with a lump sum payment in the event of:- Loss of hearing- Loss of speech- Loss of limb(s)- Loss of sight- Permanent Disablement- Death Occupational personal accident insurance can provide you with a weekly payment in the event you are injured (resulting in temporary total disablement) in the course of your work (subject to a 14-day deferment period) and unable to work. Many self-employed professionals choose this cover to maintain a regular source of income should an unexpected accident at work happen. Additionally, it can provide you with a lump sum payment in the event of: Cyber and data risks insuranceCyber and data risks insurance is an important cover that protects against the costs involved with a cyber attack, including:restoring data and equipmentinforming clientsmeeting ransom demandsloss of your net profitIt covers your defence costs, as well as any damages you are liable to pay third parties.

Finding a Professional Indemnity Insurer

You may wish to consider this cover to protect against confidential information about your clients' finances being stolen from internet-connected devices. Cyber and data risks insurance is an important cover that protects against the costs involved with a cyber attack, including: It covers your defence costs, as well as any damages you are liable to pay third parties. Public and product liability insurancePublic and product liability insurance provides cover if someone is injured, or their property damaged, in the course of conducting your accountancy business. This could be, for example, if a visitor to your office were to slip on a wet floor, or if you were to accidentally damage a client's laptop during a meeting (e.g. It covers the legal costs involved with defending your business, as well as any compensation that may be due to third parties.

Find accountant insurance quotes today. Powered by QuoteZone.

Public and product liability insurance provides cover if someone is injured, or their property damaged, in the course of conducting your accountancy business. Do accountants need professional indemnity insurance?PI insurance for accountants is a vital component of any accountancy insurance package for a number of reasons. Firstly, it’ll pay your legal fees if you’re accused of professional negligence, and it’ll also cover any compensation you may be liable for. Secondly, accountants professional indemnity insurance is a requirement of most accountancy regulatory bet betting welcome bonus no deposit bodies or membership associations, so if you don’t have in place, you’re unlikely to be able to sign up. PI insurance for accountants is a vital component of any accountancy insurance package for a number of reasons. I need proof of cover to start work, do you provide this?Yes. We provide a dedicated 'Confirmation of Liability Insurance' document which gives full details about the cover you have with us. This gets emailed to you once your policy is purchased. I need proof of cover to start work, do you provide this?

4 times PI Insurance can prove invaluable for accountants

13.1 What Tax Investigation Insurance does

1.3 Long claim tails

Is there a limit of cover I should choose?Many industries state that you need a minimum level of cover before you can undertake any work for a client, so be sure to check this before you take out any cover. If you're unsure, or it's the first bet sign up bonus uk betting time you have arranged cover, consider the worst-case scenario and what costs could be involved in putting your mistake right.

Minimum cover for Public Liability in many service contracts often starts at £1 million.
Professional Indemnity minimums for accountants and auditors are often set by their professional institutes.
Cyber insurance minimums in IT contracts are becoming standardized, often requiring £1-5 million cover.
Product Liability cover of £2-5 million is a common minimum for manufacturers supplying large retailers.

Is there a limit of cover I should choose?

Practice Size (by staff)	Minimum Limit per Occurrence	Aggregate Limit	Typical Annual Premium Range (GBP)
Sole Practitioner	GBP 2,000,000	GBP 5,000,000	250 - 500
2-5 Staff	GBP 5,000,000	GBP 10,000,000	500 - 1,200
6-20 Staff	GBP 10,000,000	GBP 20,000,000	1,200 - 3,000
21+ Staff	Case-by-case assessment	Case-by-case assessment	3,000+

Many industries state that you need a minimum level of cover before you can undertake any work for a client, so be sure to check this before you take out any cover. Why should I choose Markel’s insurance?With over 25 years of experience insuring contractors, consultants and self-employed professionals, Markel has proven experience in ensuring you have the cover you need. We insure over 200,000 micro businesses and are highly rated by our customers at Feefo.com.We are a division of Markel International, a Lloyd’s of London market insurer.To discuss your insurance requirements and better understand what cover we can provide, call us on 0371 705 3182 or get a quick quote online. Why should I choose Markel’s insurance? With over 25 years of experience insuring contractors, consultants and self-employed professionals, Markel has proven experience in ensuring you have the cover you need.

Are tax planning claims covered by PI?

We insure over 200,000 micro businesses and are highly rated by our customers at Feefo.com. We are a division of Markel International, a Lloyd’s of London market insurer.

PII minimum approved policy wording

What are the AAT insurance requirements?The AAT's require licence holders to hold professional indemnity insurance which:is on an 'any one claim' basisincludes civil liability coveris fully retroactiveThe limit of professional indemnity insurance the AAT require licence holders to hold is dependent on the firm's gross fee income, and:For sole traders, the required professional indemnity limit is the higher of:2.5 times the firm's gross fee income; or£50,000For partnerships, the required professional indemnity limit is the higher of:2.5 times the firm's gross fee income; or£100,000For limited companies, the required professional indemnity limit is the higher of:2.5 times the firm's gross fee income; or£100,000Additionally, if the gross fee income of your firm is greater than £400,000, the maximum level of cover required is £1,000,000.Please note this is provided for information purposes only and members should refer to the AAT website for full details. The AAT's require licence holders to hold professional indemnity insurance which: is on an 'any one claim' basis The limit of professional indemnity insurance the AAT require licence holders to hold is dependent on the firm's gross fee income, and: For sole traders, the required professional indemnity limit is the higher of: 2.5 times the firm's gross fee income; or For partnerships, the required professional indemnity limit is the higher of: 2.5 times the firm's gross fee income; or For limited companies, the required professional indemnity limit is the higher of: 2.5 times the firm's gross fee income; or Additionally, if the gross fee income of your firm is greater than £400,000, the maximum level of cover required is £1,000,000. Please note this is provided for information purposes only and members should refer to the AAT website for full details. What are the ACCA insurance requirements?The ACCA's minimum professional indemnity insurance requirements is calculated in relation to your business' annual fee income.If your annual income is less than or equal to £200,000, the required professional indemnity limit is the higher of:2.5 times the firm's income; or25 times the largest fee raised by the firm during the relevant accounting year; or£50,000If your annual income is £200,000 bet new customer bookmaker offers - £700,000, the required professional indemnity limit is the higher of:the aggregate of £300,000 and your total income; or25 times the largest fee raised by the firm during the relevant accounting yearIf your annual income is over £700,000, the required professional indemnity limit is the higher of::£1,000,000; or25 times the largest fee raised by the firm during the relevant accounting yearPlease note this is provided for information purposes only and members should refer to the ACCA website for full details. The ACCA's minimum professional indemnity insurance requirements is calculated in relation to your business' annual fee income.

Get Quotes

If your annual income is less than or equal to £200,000, the required professional indemnity limit is the higher of: 2.5 times the firm's income; or 25 times the largest fee raised by the firm during the relevant accounting year; or If your annual income is £200,000 - £700,000, the required professional indemnity limit is the higher of: the aggregate of £300,000 and your total income; or 25 times the largest fee raised by the firm during the relevant accounting year If your annual income is over £700,000, the required professional indemnity limit is the higher of:: 25 times the largest fee raised by the firm during the relevant accounting year Please note this is provided for information purposes only and members should refer to the ACCA website for full details. What are the CIMA insurance requirements?A CIMA Member in Practice is required to hold professional indemnity insurance, however CIMA does not advise on the level of cover your business is likely to need.We offer a range of limits of professional indemnity insurance for CIMA members, and our article 'how much professional indemnity insurance do I need?' may assist with your decision.Please note this is provided for information purposes only and members should refer to the CIMA website for full details. A CIMA Member in Practice is required to hold professional indemnity insurance, however CIMA does not advise on the level of cover your business is likely to need. We offer a range of limits of professional indemnity insurance for CIMA members, and our article 'how much professional indemnity insurance do I need?' may assist with your decision. Please note this is provided for information purposes only and members should refer to the CIMA website for full details.

12.6 The cost picture

I need proof of cover to start work, do you provide this?Yes. We provide a dedicated 'Confirmation of Liability Insurance' document which gives full details about the cover you have with us. This gets emailed to you once your policy is purchased. I need proof of cover to start work, do you provide this? Is there a limit of cover I should choose?Many industries state that you need a minimum level of cover before you can undertake any work for a client, so be sure to check this before you take out any cover. To discuss your insurance requirements and better understand what cover we can provide, call us on 0371 705 3182 or get a quick quote online. How are Markel Direct regulated?Markel Direct is a trading name of Markel International Insurance Company Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Contact us

If you're unsure, or it's the first bet sign up bonus uk betting time you have arranged cover, consider the worst-case scenario and what costs could be involved in putting your mistake right. Is there a limit of cover I should choose? Many industries state that you need a minimum level of cover before you can undertake any work for a client, so be sure to check this before you take out any cover. Why should I choose Markel’s insurance?With over 25 years of experience insuring contractors, consultants and self-employed professionals, Markel has proven experience in ensuring you have the cover you need. We insure over 200,000 micro businesses and are highly rated by our customers at Feefo.com.We are a division of Markel International, a Lloyd’s of London market insurer.To discuss your insurance requirements and better understand what cover we can provide, call us on 0371 705 3182 or get a quick quote online.

Application Process and Declarations

Why should I choose Markel’s insurance? With over 25 years of experience insuring contractors, consultants and self-employed professionals, Markel has proven experience in ensuring you have the cover you need. We insure over 200,000 micro businesses and are highly rated by our customers at Feefo.com. We are a division of Markel International, a Lloyd’s of London market insurer. To discuss your insurance requirements and better understand what cover we can provide, call us on 0371 705 3182 or get a quick quote online.

9.1 The IFA minimum

How are Markel Direct regulated?Markel Direct is a trading name of Markel International Insurance Company Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.