Professional Liability Insurance Program is sound.
Position | Member news |
Recent news reports concerning the accounting profession have generated inquiries as to the stability of the AICPA Professional Liability Insurance Program. Policyholders are assured that the insurance program, the largest accountants' liability insurance program in the nation, is sound.
The program is designed to provide insurance for small, medium and regional accounting firms; more than 23,000 firms currently participate. The goals of the program are to provide nationwide professional liability protection responsive to the scope of services CPA firms offer, ensure long-term stability, and assist CPAs in the management of liability risks inherent in public practice.
Rated on the loss experience of its policyholders, the program is not directly affected by any liability losses of the largest firms, which are not insured in the program. Accordingly, any adverse liability those firms experience...
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