Professional indemnity insurance for bookkeepers and BAS agents

If a claim (and or a circumstance which may give rise to a claim) is made against you, you must notify your broker as soon as reasonably practicable.  The first step is typically the release of a claim form for completion.  It will also be necessary to provide a copy of any third-party correspondence and or demands received.  Other pertinent information, dependant on matter/allegations being made may also be required. For example, a copy of the Service Agreement / Contract held with the claimant. 

We want you to get the best possible outcome, so we will advocate for you throughout the entire claims process. Claims can be stressful, but we strive to make the process straightforward.

Bookkeepers and BAS agents aren’t legally required to have insurance in Australia. However, it is often a compulsory requirement imposed by regulatory bodies – such as the Tax Practitioners Board.

Yes. Public liability insurance is an optional extension for tax practitioners – it can help cover you for financial loss if a third party is injured or has their property damaged due to your business activities.

Speak to Marsh if you’d like to add public liability cover to your insurance policy.

Insurers use a range of details to calculate your insurance premium. These include your:

• Level of cover 
• Business turnover 
• Prior claims history.

Insurers may also factor in the number of claims they expect to receive in a year for a particular business type.

Yes. Without the proper cover, your financial practice or freelance financial business is exposed to a plethora of risks. If a claim is made against you, you’ll need to self-fund the damages and expenses – including the legal costs of defending the claim. Professional indemnity insurance for bookkeepers can help safeguard your business when you need it most.

Absolutely. Generally speaking, freelance bookkeepers and BAS agents face the same risk exposures as those in an accounting practice. However, where a bookkeeper or BAS agent in an accounting practice would require management liability insurance, a freelance bookkeeper or BAS agent would not.

A certificate of currency is proof that you hold a current insurance policy. Once you’ve paid for your insurance policy, we’ll email your certificate of currency to you immediately.