Professional Indemnity

An insured accountant was asked by a client to review their company’s finances for fraudulent or dishonest conduct. After reviewing, the accountant advised that there were no irregularities. However, the client alleged that the accountant had not conducted an adequate investigation and lodged a complaint with the Certified Practising Accountants (CPA).

CPA reviewed the submission and determined that the accountant had acted properly. The client dropped their case, and the accountant’s insurer paid $23,000 in defence costs.

The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Coverage for claims on the policy will be determined by the insurer, not BizCover for Brokers.