What Happens When Your Insurer Denies a Claim?
Even with professional liability insurance for accountants, claims can get denied. Understanding why helps you avoid it. Our detailed guide on why insurance companies deny claims covers the most common tactics insurers use and how to fight back.
The most common denial reasons for professional liability claims include: known circumstances not disclosed at policy inception, incidents excluded under the policy wording, and claims filed after the policy period on a claims-made policy.
MBI Tip for Accounting Firms with Company Vehicles
If your accounting practice owns or leases vehicles for client visits or staff transport, standard auto insurance will not cover mechanical breakdowns that leave you unable to service clients. Mechanical Breakdown Insurance (MBI) fills that gap, covering repair costs for engine and drivetrain failures that comprehensive auto policies exclude. This is especially relevant for firms with newer leased vehicles or EVs used for client travel.