If you’re looking to protect your accounting business with a low cost Errors and Omissions Policy, you could do no better than Coverage with ACE Financial Group Ltd. You’re smart to realize that no matter how careful you are with the numbers, your calculations, forms and spreadsheets, that any error, or even a perceived error, can result in a costly lawsuit, and ultimately the loss of your business. Many Accountants wisely carry an Errors and Omissions Insurance Policy to give them piece of mind in knowing that they have done their best to ensure a long-term business.
In our litigious society, many business professionals risk being sued by a customer that misunderstands their accounting books and calculations. Their customers may try to blame their accountant for discrepancies in their business and bookkeeping. They may try to say that their accountant was negligent or in error with the amounts that are listed. Most times the accountant knows the profits and losses of a company better than the business owner themselves. Many business owners, in an effort to maximize profits, may take short-cuts, be they legal or just justified in their mind. This cannot fall on the shoulders of the professional accountant, as they have completed their job ethically and accurately.
Errors and Omissions insurance policies are written by teams of highly-paid lawyers in and order to protect the insurance company from their customers against such claims and lawsuits, whether the claims are real or frivolous. A lawsuit can award monetary damages of over $1,000,000 due to an alleged error or omission by an accountant. This will likely put the accountant not only out of business, but may take all of their private savings away as well. One claim can put an accountant in total financial ruin. Everyone always says “Oh, that’s not realistic” or “It will never happen to me.” But it happens to honest and careful accountants every day across America.
Many insurance companies delay as much as possible in giving you a sample policy outline until you have gone through their arduous application and underwriting process. This manipulative business practice is unfortunately common in the insurance industry. They may also try to give you an initial quote of a low annual premium, but by the time you have endured the gauntlet of red tape, endless paperwork, delays, policy exclusions, riders and rate ups, you may end up with a rate that is double what they started you out at. Then, every 6 months you can expect a single digit rate increase on your policy. You may find that getting a claim paid is a long and difficult process. And you will likely be cancelled if you ever have a claim. The insurance company’s job is to stay profitable and in business, even if it’s at your expense.
You don’t have to settle for the stereotypical “insurance company” games and run-around. ACE Financial Group Ltd proudly doesn't follow those guidelines as we a customizable E&O Policy. You can select each individual coverage type you need. Therefore you only pay for the coverage and limits for the services that you provide. If you’re tired of searching for the lowest price on your E&O Coverage, Shop no further, as you’ve found it with ACE. We offer the “Lowest Rate In The Industry, Guaranteed”. We promise to beat any competitor’s rate by at least 10%! All you need to do is click on the "Instant Quote" link at the bottom of this page to take advantage of our quick and easy online quote and application process.