What does PII Cover?
Incorrect Tax Advice
Failure to apply the correct relief or interpret legislation results in penalties or excess tax liability.
Audit Negligence
Failure to identify material misstatements, fraud, or compliance breaches during a statutory audit.
VAT or Payroll Miscalculations
Errors in processing VAT returns or payroll submissions that cause HMRC penalties.
Corporate Finance or Insolvency Advice
Claims arising from M&A, restructuring, or insolvency guidance that fails to protect client interests.
Loss of Confidential Client Data
Data breach, mis-sent emails, or insecure file transfer results in reputational and legal fallout.
Defamation or Misstatement
You are accused of libel or slander in a professional report or dispute.
Accountants
At WK Professional Risks, we specialise in arranging insurance for accountants — from sole practitioners and small firms to complex multi-partner practices offering audit, tax, and advisory services.
With access to the London and Lloyd’s markets, we work with insurers who truly understand the professional and regulatory landscape accountants operate in — including ICAEW, ACCA, and CIOT rules. Whether you’re advising clients on corporate structures, completing self-assessments, or undertaking statutory audits, we make sure your cover stands up to scrutiny.
What we offer
01
London Market Access
We place risks into Lloyd’s and leading PI insurers who specialise in accountancy professions, including firms working in audit, insolvency, and corporate advisory.
02
ICAEW/ACCA-Compliant Wording
We provide cover aligned with your regulatory body’s minimum standards — and help navigate any limitations or exclusions that could affect your compliance.
03
Advice on Risk & Engagement Letters
We help ensure your engagement terms don’t create exposures beyond what your insurance will respond to — particularly around personal guarantees, unlimited liability, or tax advice warranties.
04
Continuity Planning
We provide guidance and PI structuring for firms undergoing change — including partnerships dissolving, firms merging, or new entities forming that require continuity of cover.
05
Responsive Claims Support
Should a claim arise, our team ensures you’re represented clearly and accurately from first notification through to resolution.