Professional Liability Insurance
CPA Value Plan
Product Information
Specially designed for smaller CPA firms with up to three professionals and annual revenues up to $400,000, the CPA Value Plan offers quality professional liability coverage, superior service, and highly competitive rates. If you need professional liability coverage for a larger firm, look to the Premier Plan.
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Covers General Accounting Services - The CPA Value Plan covers
General Accounting Services including:
- Tax Planning and Preparation
- Personal Financial Planning
- Bookkeeping
- Compilations
- Reviews
- Audits
- Management Advisory Services
- Information Technology Services
- General Business Planning
- Litigation Consulting
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Covers Entire Staff - The CPA Value Plan covers all of your
accounting professionals when rendering services on behalf of the
insured firm, including:
- Full-time employees
- Part-time employees
- Per diem employees
- Non-professional employees
- Clerical staff
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Low Rates - Thanks to the CPA Value Plan's unique rating structure,
qualified firms can take advantage of significant savings. Firms that
currently don't carry insurance, or carry limits lower than they might
like, will find CPA Value Plan rates very attractive. In addition, the
Plan offers a range of Premium Savings that reward your specific
practice experience and longevity with the Plan.
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Choice of Limits - Limits of liability options include both a per
claim limit and a higher annual aggregate limit. The Plan offers the
following liability limits:
- $100,000/$250,000
- $250,000/$500,000
- $500,000/$1,000,000
- $1,000,000/$2,000,000
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Choice of Deductibles - A choice of three aggregate deductibles is
available: $0, $1,000 and $5,000.
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Claim Expenses - Claim expenses are covered in addition to
liability limits. An equal and separate limit is provided for expenses
related to your defense.
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Prior Acts Coverage - Since the CPA Value Plan is written on a
claims-made basis, prior acts coverage is available for qualified firms
that require this coverage.
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Extended Claims Reporting Period (ECRP) - This feature provides
coverage for claims made during ECRP. One, three and five years of
extended reporting coverage are available (in most states).
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Premium Financing - Competitive financing rates are available to
qualified firms upon request.
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Enhanced Benefits
- Defendant's Reimbursement Benefit - If CNA, the plan underwriter, requires you to attend legal proceedings, the Plan will reimburse you $50 per hour for your time spent in attendance. There is no daily limit for this benefit.
- Regulatory Inquiry Coverage - If you or a member of your firm are investigated by a state licensing board, a self-regulatory body such as a state society, or a governmental agency, the Plan provides up to $10,000 for attorney fees and costs - even if no malpractice claim has been made.
- Defense Counsel - If your firm faces a lawsuit, the Plan will provide you with an attorney who is familiar with accounting practices in your region and experienced in accountants professional liability law.
- Innocent Insureds - Your firm's principals and partners are protected against the fraudulent or dishonest acts by another partner or employee performing professional services if they were not involved in or knowledgeable of these activities.
- Trustee Coverage - Trustee coverage for personal trusts is provided, up to policy limits, at no additional charge.
The above description is for illustrative purposes only and is not a contract. The description is intended to provide a general overview of the plan described. Please remember only the insurance policy and the premium financing agreement, if applicable, can provide the actual terms, conditions, and exclusions. Not all coverages are available in all states.
One or more of the CNA companies provide the products and/or services described. The information is
intended to present a general overview for illustrative purposes only. It is not intended to constitute
a binding contract. Please remember that only the relevant insurance policy can provide the actual
terms, coverages, amounts, conditions and exclusions for an insured. All products and services may
not be available in all states and may be subject to change without notice. CNA is a service mark
registered with the United States Patent and Trademark Office. Copyright © 2008 CNA. All rights
reserved.
Aon Insurance Services is a division of Affinity Insurance Services,
Inc.: in CA, MN & OK, (CA License #0795465) Aon Insurance Services is a
division of AIS Affinity Insurance Agency, Inc.; and in NY, AIS Affinity Insurance
Agency.
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