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Types of Insurance Coverage for Accountants

There are several types of insurance policies that accountants should consider to ensure full protection:

• Professional Liability Insurance: Also known as Errors and Omissions Insurance, this policy protects against claims of negligence or inadequate work. It's crucial for accountants who provide professional advice and services.
• Business Owner's Policy (BOP): A BOP combines general liability insurance and property insurance, offering coverage for property damage, business interruption, and more. This is ideal for accountants who operate their own firms.
• Cyber Liability Insurance: With the increasing reliance on digital data, this insurance covers costs related to data breaches and cyber-attacks, protecting both the accountant and their clients' sensitive information.