Berkshire Hathaway GUARD Insurance Companies is now offering professional liability insurance for accountants in Texas.
The new accountants’ professional liability product is designed to meet the needs of smaller firms with less than 10 accountants and less than $1 million in annual revenue. However, larger firms are considered on a case-by-case basis.
Berkshire Hathaway GUARD’s new product features limits that start at $100,000 per claim/$200,000 aggregate and ranges as high as $2,000,000 per claim/$4,000,000 aggregate.
Some basic benefits include loss of earnings for court appearances, attorney fees for regulatory hearings, assistance with subpoenas, and defense of third-party discrimination demands. A variety of other options are also available to enhance the protection provided.
GUARD Executive Vice President Lyle Hitt said in the company’s release that writing policies for accountants in Texas is the latest step in an overall growth strategy for this line. “We now offer professional liability in over half of the United States, and our plan is to be in all jurisdictions by the end of next year. Our products are able to address the coverage needs of dozens of different occupations.” he said.
In October of 2012, GUARD was acquired by Berkshire Hathaway Inc. – an international holding company with diverse interests that include insurance and reinsurance. In 2013, GUARD unveiled a new identity as Berkshire Hathaway GUARD Insurance Companies.
Source: Berkshire Hathaway GUARD Insurance Companies
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