Why choose Hensure for PI insurance
Personal Service
Our business is not a call centre, but instead provides a personal service and dedicated team to assist with your queries.
Experienced Team
Our team has a wealth of experience and knowledge to help you and your business get the most appropriate cover for your needs.
Online System
Our full 24/7 quote and buy facility allows you to run a personalised quotation, at a time that suits you and your business.
Why is Professional indemnity Insurance for Accountants important?
As an Accountant, your work is of the utmost importance to any business. If you get your figures wrong, a business could be exposed to a whole range of problems. If they lose money because of this, or are facing a large fine, they can file a claim against you for your mistake. This is where Professional Indemnity Insurance can provide cover for your legal expenses and any compensation that you are required to pay to your client.
What’s more, if you have clients visiting your offices, or you visit theirs, you need to consider the further accidents that could take place. If you damage a client’s computer in a meeting, or they fall over a stray wire in your office, there is also room to claim. Public Liability Insurance will cover this accident to either property or person, as a result of your business.
Professional Indemnity Insurance for Accountants is divided into two categories:
- Industry – Accountants working in the accounting and finance department of an organisation.
- Professional – An accountant working for a specific accountancy firm, providing an accountancy service.
If you are a member of a regulatory body then you are likely required to hold Professional Indemnity Insurance by the organisation. Furthermore, these bodies hold different requirements for the minimum protection that you hold. To ensure that you are fully compliant with your regulatory body, you are strongly advised to check their website prior to purchasing this cover.
The main professional bodies are:
- The Institute of Chartered Accountants in England and Wales (ICAEW)
- The Chartered Institute of Management Accountants (CIMA)
- The Association of Chartered Certified Accountants (ACCA)
- The Institute of Chartered Accountants of Scotland (ICAS)
- The Institute of Chartered Accountants in Ireland (ICAI)
- The Chartered Institute of Taxation (CIOT)
- The Association of Accounting Technicians (AAT)
For further information, do not hesitate to contact us.

Things we look for
- Company Size – this is the gross annual income of the company & the number of partners/directors/employees.
- Type of Work – the Underwriters will want to understand the type of work that the accountant is involved in. They will be particularly keen to assess whether there is any work in the following areas as they would be considered higher risk and would attract a much higher rate of premium or in some cases would stop an underwriter from quoting for the risk:
- Work for quoted companies or PLCs
- Work for Lloyds of London
- Advice in respect of tax efficient/ tax mitigation/ offshore tax planning schemes
- Work for high profile clients – Entertainment/ Sporting industry
- Offshore trusteeships or offshore directorships
- IFA related work
- Retroactive Exposure – does the business have an exposure to claims arising from past work, whether in the current business or a previous company?
- Qualification and Experience – if an accountant is unqualified, insurers will want to see a CV showing the experience that they have had, with a minimum requirement that they have five years’ experience and possibly more depending on the business services offered before offering Accountants Business Insurance.
- Overseas Exposure – does the practice carry out any work for overseas clients?
- Claims Experience – this information reflects on the type of work carried out by a company. It also reflects the quality of the company’s work, experience, staff & company risk management.
Policy coverage
Your professional indemnity insurance for Accountants policy will cover the following areas:
- Breach of intellectual property rights
- Breach of confidentiality
- Dishonesty
- Professional negligence of the insured loss of documents
- Libel and slander
Insurance types
Professional Indemnity
- Professional Indemnity provides cover for claims that arise as a result of the work you have completed or advice you have given.
Public Liability
- Public Liability provides cover should members of the public receive an injury or property damage due to your work. This protects your business should a compensation claim be made, also covering any legal costs that result from this.
Employers’ Liability
- Employers’ Liability provides cover for compensation claims and associated legal costs, arising from employee injury or work-related illness.
Cyber Insurance
- Cyber Insurance provides support in the event of cyber-crime and unintentional data breaches, offering cover against the cost of revenue and fines.
Directors and Officers
- Directors and Officers insurance policies protect you financially against any claims that are made against you personally in your position as a director, partner or officer of your business.
Legal expenses insurance
- If you were involved in a legal battle, knowing that any money you spend on legal bills would be reimbursed could make all the difference. Legal expenses insurance does just that. It ensures that your business remains financially stable after a legal case by helping to compensate the business for incurred costs.
Contact us to find out more about the right cover for your business.