Insurance that's on the money
Accounting practices have specific insurance requirements. Our knowledge in this industry is extensive, with purpose-built insurance solutions negotiated with our insurers for maximum coverage and risk management. We have a long term partnership with the Institute of Public Accountants (IPA) and currently insure over 2,500 practices of all sizes. Coverage extends to all General Insurance products and includes specialised services such as NDIS Plan managers, registered insolvency, liquidation and restricting practitioners.
Professional Indemnity insurance is the required cover for all accounting professionals. Our policy has been custom built to adhere with industry expectations and IPA by-laws, ensuring you are compliant and really covered. This customised policy includes cover for:
- Negligence
- Civil liability
- Infringement of intellectual
property rights
- Loss of client documents
- Losses from employee
dishonesty
Another essential cover for any business that operates from an office or from home. Coverage includes:
- Injury caused by you or an
employee when you visit a
client’s premises
- Injury to a member of the
public who visits your place
of business
- Damage to property caused
by you or an employee when
you visit a client’s premises
that need to leave the
premises
Any business that stores sensitive data on an electronic device should protect themselves from cyber attacks. Our Cyber Crime insurance policy covers your business for:
- Costs related to incident
management and business
interruption
- Damages and costs to third
parties
- Direct losses and legal
liabilities arising from cyber
breaches
- Coverage can also be
included for Social
Engineering
Legal Expenses insurance can cover your costs when you need to call the lawyers in areas such as unpaid fees and other disputes.
It also includes defense for criminal prosecutions, employment disputes (incl. employee's breach of restrictive covenants), property disputes, data protection and a suspension/revocation of a statutory license.
Tax Audit Insurance
Tax Audit insurance covers your client’s costs in the event they receive a government enquiry. By encouraging your clients to participate in this simple, affordable service you avoid presenting them with an unexpected invoice or feeling obliged to write off or write down chargeable hours in order to protect your relationship.
By bundling your insurance needs together, you’ll enjoy the convenience of reviewing all of your policies and approving one annual invoice each year. It will also give you peace of mind knowing that you only have one phone call to make if you ever have any questions or need to lodge a claim.
Having good insurance isn’t just a necessity for you and your business, it’s also an opportunity. Talk to AB Phillips about becoming a referral partner and continue to remain relevant and proactive in providing your clients additional products and services that they need to keep their business operational. You can also increase your revenue through our generous referral fees. Our team has expert knowledge across a wide range of industries, so you can be sure you are giving your clients the best recommendations possible when it comes to insurance.
While every accountant needs a specific insurance policies, you and your business also need additional coverage - just like every other business. We offer a complete suite of products for your office, business and your personal assets. These include:
- Management Liability
- Directors and Officers
Insurance
- Corporate and Leisure Travel
Insurance
- Landlord Insurance
- Strata Insurance
- Personal Accident & Sickness
- Commercial Motor/Motor
Fleet Insurance
- Personal Asset Insurance
(home, car, caravan, boat)