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How does accountant's liability insurance work?

 

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Subject Author Date
How does accountant's liability insurance work? jack 09-04-2008
Posted by jack on September 4, 2008, 2:25 pm
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Is it like automobile insurance where you pay a deductable and the rest is
the insurance company's problem; or do you have a share of the legal fees
and judgement?

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Posted by Paul Thomas, CPA on September 4, 2008, 2:41 pm
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> Is it like automobile insurance where you pay a deductable
> and the rest is the insurance company's problem; or do
> you have a share of the legal fees and judgement?





It would depend on your carrier and the policy you select. So maybe ask
them.

Mine has a deductible and they pay after that up to a dollar cap per claim
and/or per year.






--
Paul A. Thomas, CPA
Watkinsville, Georgia

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

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