Liability insurance for accountants: Extra risks

The risks accountants face multiply and morph over time, and keeping up with them — and the insurance necessary to protect your firm from them — can be difficult.

For a look at some of the profession’s biggest risks, see our feature story, and our story on the best approach to buying appropriate coverage.

For a deeper dive on some other new and emerging risks, Stephen Vono, senior vice president at McGowanPro, put together a panel of experts to answer additional questions regarding the current liability scene for accountants. In addition to Vono, the team consists of Gary Sutherland, a head underwriter at McGowanPro; Anthony Carolei, the risk manager for Hanover Insurance; and attorney Ralph Picardi, a defense attorney for accounting firms with Picardi LLC.

The team highlighted a number of areas of risk: