Privacy Protection Insurance for Accountants
CPA Firm Privacy Protection Issues
Nearly all businesses have an exposure to privacy losses. Over the last few years, there has been heightened media reporting of data losses and how they can impact businesses and consumers. Due to this increased awareness, this subject has moved more "front of mind" with many companies. As a CPA, you may want to alert your clients regarding their possible need for coverage.
Let's start by discussing the exposures faced by your own firm:
Privacy Exposures for CPAs and Accounting Firms:
- Unintentional release of client information from either paper or electronic files
- Loss of data from stolen computers
- Improper disposal of tax, accounting or "work paper" files
- Data loss due to hacking into your network by outside sources
- E-mails accidentally sent to the wrong party
- Loss or theft of client's social security numbers or payroll information
- Accidental release of client data to regulatory authorities such as the I.R.S.
- Accidental loss of "negative" client information such as tax liens
- Loss of client tax information or bank account information
- Other confidential information your client has entrusted to you
- Violations of the Gramm-Leach-Bliley Act outside "Safe Harbors"
As you can see, there are many opportunities for the unintentional release of confidential information. The loss of this information can result in lost clients, governmental or regulatory agency intervention or media reports regarding the loss. The absence of coverage to help you deal with these issues will only compound the loss.
Safeguard Your Firm from Cyber Liability Issues
Brunswick Companies has over three decades of experience in managing the specialized risks of professional groups. Our risk management specialists have the know-how to assist you in evaluating your exposures, and access to a broad range of Cyber Liability Insurance programs from a variety of A.M. Best "A-rated" insurers.
One plan is specifically designed to meet the privacy protection needs of many CPAs:
Get Guard! Privacy Protection Plan for Accountants
Underwritten by an A.M. Best rated "A" (Excellent) insurance carrier, this program covers:
- Your liability arising out of the accidental release of personal or private information to anyone who should not receive it.
- The expenses associated with notifying your clients and customers of any personal data breach. Such notifications are now required by most states and some federal laws.
- Provides coverage whether the information releases was in paper or electronic format.
Protecting Your Accounting Firm is Easy
Simply complete the one-page application. Click the link below:
Or, do you have clients who would benefit from this type of protection? We'll help you identify the right plan and provide a quote.
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