Accountants Profit Securely with Ultimate Liability Coverage Secrets
Real-World Examples and Statistics
According to a report by the Insurance Information Institute, the average cost of defending a liability claim can exceed $75,000, which underscores the importance of having adequate coverage2. Furthermore, a survey by the Journal of Accountancy revealed that nearly 30% of accountants have faced legal action at some point in their careers, highlighting the prevalence of such risks3.
These statistics emphasize the critical need for accountants to not only secure liability coverage but also to regularly review and update their policies. By doing so, you can ensure that your practice is adequately protected against evolving risks and challenges.