The modern day Chartered Accountants are responsible not just for their core accounting functions but also are viewed as corporate gatekeepers to protect and advance corporate financial interests. However, such is the irony that the profession that is dedicated towards curtailing the financial risks is full of risks. Even a small mistake can cause a huge financial burden of litigation and can jeopardise the reputation of their practice, their personal integrity and their personal assets. In such cases, Professional Indemnity Insurance for CAs can play an important role. It is an insurance policy that indemnifies you against your legal liability to pay compensation including defence costs, fees and expenses anywhere in India in accordance with Indian laws. The insurance covers the claims arising out of losses and/or damages due to any breach of professional duty by reason of any negligent act, error or omission committed or alleged while rendering your services as a chartered accountant and during the period of insurance.
However competent and honest you and your business are, you can never tell when you will be unlucky. This policy will keep you and your business protected against huge legal expenses in case someone makes a claim against you.
This policy is specially designed for the risks faced by CAs when it comes to their services. It will help you run your practice smoothly, as you won’t need to worry about expensive lawsuits. Your customers and clients will also appreciate the guarantee of being compensated in case something goes wrong.
This insurance protects you and your business from claims if a client sues you for negligent acts, inaccurate advice, errors or omissions committed during business activities that result in a financial loss.
It will cover all costs, fees and expenses (defence costs) incurred during the investigation.
This policy protects you against any legal liability for things like payment of defence costs, and legal fees and expenses if a client files a case against you.
This policy also covers the cost of a public relations consultant to protect your reputation after a claim.
No need to coordinate with multiple points of contact and third parties. With Raghnall, you only need to stay in touch with us and no one else.
At Raghnall, we have specialized underwriters and product experts who take time to understand your business and offer the coverages suitable to your needs.
As a fully independent broker we customize coverage catering to your needs and provide the best price for most comprehensive coverage.
This policy is specially built for both CA firms and individuals who provide professional services (like chartered accountants, financial accountants, management consultants, lawyers, advocates, solicitors, counsellors etc.) and want to secure their financial position and professional reputation.
Make sure that you pick the right sum insured for your policy. Choose a policy that allows you to customize your sum insured based on the nature of your business and the risks you face.
Make sure that you look for the professional indemnity insurance policy that gives you maximum coverage for all the risks to your business and all its activities.
Claims are one of the most important parts of insurance, so look for a company that has easy to make claims and also a simple settlement process, as it can save you and your business a lot of hassle.
Yes, this policy is designed for individuals and CA firms who provide professional services like chartered accountants, financial accountants, management consultants, lawyers, advocates, solicitors, counsels and want to secure their financial position and professional reputation.
It depends upon your need, type of business you own, services you provide and level of risk. After consulting with insurers, you can establish your level of cover for this policy.
It depends upon the policy but mostly the tenure is 12 Months.
Yes, if you are an individual who is practicing services like chartered accountants, financial accountants, management consultants, lawyers, advocates, solicitors, counsels and want to secure your financial position and professional reputation.
The policy will indemnify you against legal liability to pay compensation including defence costs, fees and expenses anywhere in India in accordance with Indian law. The insurance covers only the claims arising out of loss and/or damages due to any breach of Professional duty by reason of any negligent act, error or omission committed or alleged while rendering the professional services and during the period of insurance.
Some of the key exclusions under this policy are: Any criminal act or any violation of any law Fraud or dishonesty act Bodily injury or property damage Fines and penalties War or terrorism risk