Insurance for Accountants

Get a quote Get a quote Or Call
Or Call 1300 836 028
Mon - Fri 8:30am - 5:30pm AET

Why do Accountants need insurance?

You’re used to working with numbers and calculations, but while you’re busy keeping your clients’ balance sheets in check, you also have your own math to balance. If you’re operating an accounting firm, you already know how much of an asset your business is to you, so having the right insurance for your own business should be a key part of your equation too.

But like all small businesses, there are risks in the operation of your business. Some incidents could have enough financial strain to completely bring your practice to a stop. Insurance that is customised for the common risks in your industry should be a key consideration when deciding how to protect your business.

Dealing with your clients’ dollars, you know first-hand how a minor incident can wreak havoc on a business’s livelihood, and the same applies to you as an accountant. Whether it’s making a small mistake in calculating tax for your client, or having your computer network hacked, incidents happen to even the most careful businesses. Having appropriate insurance cover in place can help make sure you can keep the lights on in your own business even if you do experience certain disasters.

Don’t just insure, be sure

Business insurance can be complicated. What you think you’re paying for isn’t always what you get. As a broker and Accountants insurance specialist, Aon helps you find a policy customised for the common risk of your industry so you’re more confident that you’ve found the right type of insurance for your business. 

Why Aon for Accountants Insurance?

Don't just insure, be sure.

Right type of cover

  • Aon arranges Insurance tailored to protect against common risks in the Accountants industry
  • We help you to understand how your policy protects against the common risks as an Accountant
  • Competitive premiums thanks to Aon’s scale and influence.

Specialist support

  • A team of experienced Accountants insurance specialists to help you at every step
  • We help you make claims and advocate on your behalf
  • Australian based teams. 

Easy to manage

  • Quotes online or over the phone on 1300 836 028
  • Options to take out premium funding loans to pay monthly. Fees and charges will apply 
  • Adjust your policy any time. Terms and conditions may apply
  • Easy renewal management
  • Online requests for certificates of insurance.

Rely on Aon’s industry expertise in Accountants insurance

Business insurance can be complicated. What you think you’re paying for isn’t always what you get. At Aon, we want you to feel confident you’ve made a smart decision for your business insurance needs.

As SME specialists for Accountants insurance, we understand the risks that businesses like yours face and how to insure against them. We know insurance policies and understand that the detail of your policy wording is critical to providing the type of cover your small business needs. That’s why we help you by arranging policies customised for the common risks of your industry.

Our team of Australian-based SME insurance experts are here to support you and your business every step of the way. We’ll give you access to the relevant information required to help you understand the cover options available to you so you can feel more informed about your choice of insurance.

We are proud to be the chosen insurance partner for the Chartered Accountants Australia and New Zealand (Chartered Accountants ANZ) Affinity Members Programme.

What insurance do Accountants need?

Professional Indemnity
This is the most basic form of cover for accountants. Professional Indemnity may cover you in the event a client alleges your service or advice caused them financial loss. For example, if you make a mistake in calculating tax for your client, which leads to them being fined, your client may take legal action against you for the loss. Professional Indemnity Insurance in this instance would not only include cover for the legal fees to defend you in this case, but also financial compensation you’re required to pay, subject to all Policy terms and conditions.
Public Liability
This may be a requirement for any business that deals with members of the public. It includes cover against claims where a client or a member of the public alleges your business activities caused them injury, or damage to their property. For example, if a client trips over a loose wire while visiting your office and suffers an injury. Public Liability through Aon is offered as part of a Business Insurance policy (see below).
Cyber Insurance
Cyber insurance includes cover for financial loss you suffer as a result of a cyber attack. This can include phishing, malware and ransomware. In providing your service, you likely deal with some very commercially sensitive data, and this data may make you a very lucrative target for cyber criminals.
Business Insurance
Business Insurance is a package insurance that allows you to bundle different coverages into one policy. There are 2 main components offered under Business Insurance – Public Liability cover and cover for your assets, including your physical business premises. If you have a physical office, this policy will let you choose from various cover to help protect your office. Cover options include damage to building & contents, theft, money, business interruption and portable property, along with computer and machinery breakdown.
Product Liability
Product liability insurance is typically included as part of a public liability insurance policy. Product liability insurance helps protect your business against financial liability for third party injury or damage caused by products sold or supplied through your business. Public and Products Liability policies can cover legal defence and court costs, assisting your business with the financial setbacks of defending a claim.2

Cover benefits of Accountants Professional Indemnity Insurance

Choice of cover limits
Cover limits available from $500k to $10m. Chartered Accountants Australia & New Zealand advise that the minimum require limit for chartered accountants is $2 million.1

Cover for contractors’ breaches
Cover for claims arising as a result of a breach of professional duty committed by any consultant, contractor, subcontractor or agent of the insured (you) for breaches you are legally liable for.1

Cover for SMSF advice
Accountants who hold a limited AFSL, are automatically covered for SMSF activity.1

Cover for wrongful employment practices
Cover for claims from staff for wrongful employment practices such as a breach of contract, unfair dismissal or discrimination, with a sub-limit of $300k. Complimentary legal advice: You can access 2 hours of complimentary legal consultation from a legal expert on matters relating to the risk insured by the policy (1 hour per claim).1

Run-off cover
If you retire or leave the profession, or cease to operate, you can apply for 7 years’ complimentary run-off cover, which can help to cover the costs for claims relating to incidents that occurred when you were operating.1

Cost exclusive
You don’t need to pay any excess towards the costs associated with a legal defence; only the excess towards the settlement of a claim.1


Frequently Asked Questions

Here are answers to some commonly asked questions by Accountants.
Do I need insurance as an Accountant?
Insurance isn't just for visibly ‘risky’ professions. As an accountant, you’re responsible for advising your clients on some pretty important matters, so if you overlook some minor figures, or make a small mistake in your calculations, the financial loss to your clients could be significant, which puts you at risk of having legal action taken against you. Having the right insurance in place can help reduce the impact to your own profit and loss statement if you experience mishaps such as indemnity claims and cyber attacks.
Why do Accountants need both Professional Indemnity and Public Liability insurance?
Professional Indemnity Insurance applies to claims where clients allege your advice or service caused them financial loss. Public Liability on the other hand covers you for claims where a client or members of the public alleges they suffered an injury or property damage as a result of your business activities.
I operate my business from home, do I need insurance?
Operating your accounting business from home does not make you immune to risk. At a minimum, it’s likely you still need Professional Indemnity Insurance in the event you have a claim brought against you due to a service or advice you provide. Cyber Insurance is also worth considering, given you’re probably using the internet to perform some parts of your work. If you meet with clients in person (whether that’s at their home or in a public place), you may also need Pubic Liability. You may also need Business Insurance to cover the electronic devices you use for your business, as these may not necessarily be covered under your personal Home Insurance. We recommend you consult with a broker to help you determine the different insurance covers you might need based on your situation. 
Explore more FAQs
Why do I need Cyber Insurance?
Your high-value client base, the commercially sensitive information you hold about them and the raft of cloud based and online technologies you use all make you susceptible to cyber crime. For cyber criminals, attacking your system wouldn’t require much effort on their part, but the ramifications for you (and your clients) could be far-reaching. Cyber Insurance can therefore help safeguard your business’s viability if you do fall victim to an attack, and help make sure you’re not left with substantial out of pocket costs to rectify your IT systems and get your business back up and running.

Why do I need Management Liability Insurance?
If you’re managing a business, you’re responsible for making some very big decisions, and a management liability policy can help protect against the risks and exposures involved in doing so. If your business is a company, it also includes cover for directors & officers’ personal and corporate liabilities.

What if I retire or leave the profession?
Professional Indemnity insurance policies arranged by Aon are ‘Claims made and notified’ policies. This means that the policy only provides cover for claims made against you whilst the policy is in force (subject to policy terms and conditions). If the policy lapses, is not renewed or is cancelled, there is no cover available under the policy for claims made against you after that time. If you plan to retire or leave the professional, you may need to arrange Run-Off cover. Run-off cover provides cover for claims made against you after your current Professional Indemnity policy expires. Run-off cover is NOT automatically provided; you must apply for run-off cover AND be accepted by your insurer in order to have run-off cover apply. If your policy is lapsed, not renewed or cancelled, and you have not applied for run-off cover, you may be uninsured for any claims made against you after your current policy expires, lapses or is cancelled. For example if a client makes a claim against you for an act, error or omission due to that past work performed then the policy you have in place at the time of the claim, not the time of the work will respond.

Do I need to take out seperate cover for employees?
If you employ staff, you will need to take out Workers Compensation Insurance. You can speak to your state regulator about your needs as coverage and legislation varies between different states.

How do I make a claim?
​You will find details of how to make a claim in the policy wording you receive from us. However, we also appreciate that having to make a claim can be a stressful time which is why as your advocate we are always on hand to help with any questions. Please do not hesitate to call us on tel 1300 836 028 during business hours or email

What if I need to make a change to my policy?
It is important to keep your policy up to date with the changing shape of your business but also to keep your business and personal information up to date in the event of a claim.

Should your business circumstances have changed, for example you have moved into a new premises or you have changed the services that you offer and you are not sure if your existing insurance covers it anymore then you can always call one of our experienced friendly brokers to discuss on tel 1300 836 028 or email to

How do I renew my policy?
Your renewal offer will be sent to you via your elected email address, approximately 30 days before your renewal date you will receive a renewal email including your tax invoice and schedule from Aon. It is important at this stage to review the details of our offer carefully (remember pricing and coverage levels may have changed so it is important to review). If you are happy with the offer and wish to accept, it is important that you pay for your renewal by the date specified on the tax invoice.

Thank you for looking into renewing your policy through Aon. It is greatly valued that you are pleased with the level of service and coverage you receive.

What should I do if I have not received my certificate of currency or renewal offer/documents?
Please accept our apologies. At Aon we strive to deliver best in class service, so we are sorry to hear you have not received your documents. Please contact us on tel 1300 836 028 or email to and we will look to send your documents as soon as possible.

What are your opening hours?
Our opening hours are 8.30am to 7.00pm Monday to Friday (AET, except public holidays). If you need to contact us out of hours you can email us at and we will pick up your query on the next business day.

Can I pay for my policy monthly?
Yes you can, monthly payments can be arranged through a premium funding agreement with Hunter Premium Funding2 to help you spread the costs of your insurance across the year. Please note that the total overall cost is higher if you pay monthly. Contact us on tel1300 836 028 or by email on


Get in touch with our specialists

Call 1300 836 028

8:30am - 7:00pm AET
Mon - Fri (except public holidays) 
1Subject to full terms, conditions and limits of the policy. Please review the full policy wording for more information.

2Hunter Premium Funding is a third party independent of Aon, however Aon will receive a commission if you pay for your policy through a premium funding agreement with them.