The AICPA Premier Plan

HSH offers coverage tailored to the services you offer, from traditional to cutting edge.

Professional liability lawsuits were once filed primarily due to errors and omissions. Today, lawsuits originate from a variety of circumstances. Clients facing financial difficulties frequently attempt to offset their losses at the expense of their CPA. As accounting firms offer more assurance, financial planning and consulting services, the risk increases.

The AICPA Premier Plan provides comprehensive coverage to protect your practice against liability risk in both traditional and non-traditional accounting services you may offer.

The Premier Plan covers your entire staff, including principals, partners and employees. Coverage is provided for all full-time, part-time and even temporary staff.

• NEW! Not-for-Profit Directors & Officers Defense (Optional coverage)
The Premier Plan now offers insured firms supplementary defense coverage for members of the firm in their roles as officers or directors of qualified not-for-profit entities. This optional coverage offers a defense limit of $100,000.

• NEW! Employment Practices Defense (Optional Coverage)
The Premier Plan offers qualified firms defense coverage for employment-related claims against the firm, such as age discrimination, sexual harassment, wrongful dismissal, EEOC or ADA charges. Defense limits of $50,000 and $100,000 are available.

• Option for claim Expenses Outside the Limits of Liability
You can choose to have all claim expenses paid in addition to the liability limits you select. This option makes your entire liability limit available for claim resolution, while an equal limit is available for legal fees, court costs, and other expenses related to your defense.

• Expanded Coverage for Fiduciary Services
The Premier Plan covers services as an executor, administrator, or personal representative of an estate; ad as a trustee for a personal trust.

• Clarified Coverage for Personal Financial Planning Services
The Premier Plan provides coverage in accordance with policy terms for financial planning and investment advisory services to clients.

• Extended Claims Reporting Period Coverage (ERP)
Sixty days ERP coverage is automatically included with the Premier Plan. Additional coverage for one, three or five years is available, in most states.

The Premier Plan offers a host of savings based on your practice.

• Competitive Rates
The Premier Plan offers competitive premiums for all size firms. Premiums are based primarily on billings and includes comprehensive professional liability coverage for all principals, partners and employees.

• Deductible Options
The Plan offers a choice of deductibles from $1,000 to $50,000, for qualified firms. And you can choose per claim or annual aggregate deductibles to meet your needs.

• Engagement Letter Credit
A premium credit is awarded to firms employing the regular use of engagement letters.

• Peer Review Credit
A premium credit is awarded to firms which have undergone Peer Review within the last three years and obtained an unqualified opinion.

• Longevity Credit
The longer you are insured with the AICPA Program, the more you can save. Longevity credits begin after just one year with the Program.

• Mediation Credit
By settling a claim through mediation, you can reduce your Plan deductible by 50% (up to $25,000 credit) per claim.

• Experience Rating Credit
A premium credit is awarded to firms that are claim-free for five years or longer.
  

Due to the Length of the Premier Plan Application, we did not make it available online. If you want to apply for the Premier Plan, please call (407) 647-1616 or toll free 800-474-5686.

The AICPA CPA Value Plan

Available to CPA firms with up to 3 professionals, and annual billings up to $300,000.

The CPA Value Plan was designed exclusively for smaller CPA practices. It provides high quality coverage and outstanding service. Rates are based solely on the experience of small firms.

The CPA Value Plan covers General Accounting and Consulting Services including: Tax Planning and Preparation, Personal Financial Planning, Bookkeeping, Compilations, Reviews, Audits, Management Advisory Services, EDP Services and System Consultations, General Business Planning, and Litigation Support Services.

Quality Coverage

• Choice of limits:
The CPA Value Plan provides limits of liability that include both a per claim limit and a higher annual aggregate limit. Liability limits available are:

• $100,000/$250,000
• $250,000/$500,000
• $500,000/$1,000,000
• $1,000,000/$2,000,000

• Choice of Deductible
Choice of three aggregate deductibles available: $0, $1,000, and $5,000.

• Claim Expenses
Claim expenses are covered in addition to liability limits. An equal and separate limit is provided for expenses related to your defense.

• Defense Counsel
In the event of a lawsuit, you will be provided with an attorney in your region who is familiar with accounting practices and experienced in accountants professional liability law.

• Covers Entire Staff, including Per Diems
Coverage includes up to 3 professional staff, whether full-time, part-time or temporary. And all non-professional staff is covered.

• Consent to Settle
No claim will be settled without your express written consent.

• Trustee Coverage
Full coverage limits included, without additional charge.

Savings Based on Your Practice

• Engagement Letter Credit
Save 5% on premiums for a claim-free history.

• Peer Review Credit
Save 5% on premiums for receiving an unqualified opinion in a Peer, Quality, or Voluntary Tax Practice Review.

• Longevity Credit
Save on premiums each year you are continuously insured with the CPA Value Plan. Premium credits begin after one year.

• Mediation Option
Through the successful use of mediation, your firm’s deductible will be reduced by 50%.

• Risk Management Program
The CPA Value Plan offers a Risk Management Program to help insured firms avoid risk exposure and reduce their chances of a professional liability lawsuit. When the professionals in your firm attend the CNA Risk management Seminar, your firm will earn a 7.5% premium credit each year for three consecutive years. The program also includes a free risk management newsletter developed by Aon Insurance Services, the AICPA Insurance Program Administrator.

• Easy to Apply
There’s no complicated application to apply for the CPA Value Plan. Your answers to a few simple questions are all that is needed. Use our online application to apply today.