Risk, all figured out
Looking after someone else's money is a responsibility you have to take seriously.
Problem is, quite how much is your responsibility isn't immediately obvious. Until something goes wrong, of course, and then it's all too obvious.
Make a mistake with some or all of your client's money and the only certainty is that you'll be called to account – and you'll have to do something about that. Accusations you've been negligent are expensive to fix and a risk to your reputation.
Accountants' errors and omissions insurance is business protection by the numbers. If you find yourself at the sharp end of a claim against you, your policy provides the legal strength to defend you, and the financial muscle to pay for any damages you're liable for. It's coverage you can bank on.