Clarke Lyons Insurance – Professional Indemnity Insurance for Accountants
Protecting Accountants with Tailored Professional Indemnity Insurance
As an accountant, clients trust you to manage their finances, tax compliance, and reporting with absolute accuracy. But even the most experienced professionals can face claims of negligence, misstatements, or breaches of duty. That’s where Professional Indemnity (PI) Insurance for accountants becomes essential.
At Clarke Lyons Insurance, we specialise in arranging comprehensive PI cover for accountants across Australia. Our independent broking approach ensures you receive competitive premiums, tailored cover, and peace of mind knowing your practice is protected.
Why Accountants Need Professional Indemnity Insurance
Accounting is a high-responsibility profession where errors can lead to financial losses for clients. Common risks include:
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Tax advice errors – Incorrect tax planning or lodgements leading to ATO penalties.
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Audit mistakes – Oversights in audits that result in client losses or regulatory breaches.
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Misstatements or miscalculations – Errors in financial reporting or valuation.
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Breach of duty – Claims relating to professional negligence, confidentiality breaches, or conflict of interest.
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ASIC or ATO investigations – Costs of defending allegations of professional misconduct.
Without PI insurance, defending a single claim could cost tens of thousands in legal fees, even if you are not at fault.
What Professional Indemnity Insurance Covers
Our policies can be tailored to cover:
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Civil liability claims arising from professional services
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Legal defence costs (including ASIC/ATO inquiries)
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Compensation awarded to clients
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Breach of confidentiality and intellectual property
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Defamation claims relating to professional advice
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Run-off cover for retired or ceased practices
Tailored PI Cover for Accountants
Every accounting practice is different. Clarke Lyons Insurance works with:
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Sole practitioners – Affordable cover to meet CPA Australia, CA ANZ, and IPA requirements.
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Small-to-medium firms – Flexible limits to protect growing practices.
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Specialist accountants – Cover for niche services like SMSF advice, business valuations, or insolvency.
We compare multiple insurers to secure competitive premiums without compromising on cover.
Why Choose Clarke Lyons Insurance?
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Independent specialist broker – We work for you, not the insurer.
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Industry knowledge – Deep expertise in PI insurance for accountants and financial professionals.
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Tailored protection – Cover designed to meet your practice’s specific risks.
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Ongoing support – Assistance with renewals, claims management, and compliance.
Frequently Asked Questions
Do accountants in Australia need professional indemnity insurance?
Yes. Membership with CPA Australia, CA ANZ, or IPA typically requires accountants to hold PI insurance that meets specific minimum cover levels.
How much PI cover should an accountant have?
It depends on the size of your firm and services provided. Common limits range from $1 million to $10 million. Clarke Lyons can advise on the right level for your practice.
Does PI insurance cover past work?
Yes, policies usually cover past professional services while you were insured. If you retire or close your practice, you may need run-off cover.
Can PI insurance be packaged with other policies?
Yes, many accountants also arrange Public Liability, Cyber Insurance, and Business Insurance alongside PI for complete protection.
Get a Quote
Clarke Lyons Insurance makes it simple to arrange Professional Indemnity Insurance for Accountants. Whether you’re a sole trader or a large firm, we’ll help you secure the right protection at a competitive premium.