Accountants' Secret Weapon Professional Liability E&O Revealed

Real-World Examples

Consider the case of a small accounting firm that faced a lawsuit due to a clerical error in a client's tax return. Without E&O insurance, the firm would have been responsible for thousands of dollars in legal fees and potential settlements. However, their policy covered these costs, allowing the firm to continue operations without financial strain. This example underscores the importance of E&O insurance as a safeguard against unforeseen challenges.