Professional Indemnity Insurance for Accountants | Abacus Australia

Professional Indemnity Insurance

PI Insurance That Has Your Back

You double-check everything. Life still throws curveballs — miscommunication, shifting instructions, a number in the wrong column. PI helps protect you against allegations of error, omission or breach of duty, and covers defence costs so you can keep your head clear.

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Accountants in a business meeting reviewing documents

CPA Australia compliant

CA ANZ compliant

IPA compliant

ATMA compliant

Tax Institute compliant

What's covered

What PI insurance covers

A well-structured PI policy protects your practice against the professional risks that come with giving advice and handling client matters.

Errors & Omissions

Alleged errors or omissions in your advice or professional services — the most common trigger for PI claims.

Breach of Duty

Civil liability claims alleging breach of professional duty arising from your services as an accountant.

Misleading Conduct

Civil liability for misleading or deceptive conduct in the course of providing your professional services.

Defence Costs

Legal defence costs and settlements are covered up to your policy limit — so you're not funding a response out of pocket.

IP & Defamation

Unintentional defamation or intellectual property issues where included in your policy schedule.

Loss of Documents

Cover if client records in your care are lost or damaged — a real exposure for practices handling sensitive files.

Policy highlights

What makes this policy stand out

Key features of Abacus PI cover — designed with accounting practices in mind.

Unlimited retroactive date

Continuous protection for past work — no arbitrary cut-off on when a covered event occurred (subject to terms).

Broad civil liability wording

Wide-ranging cover designed to address the variety of professional exposures a modern accounting practice faces.

Meets professional body standards

Suitable for members of CPA Australia, CA ANZ, IPA, ATMA and The Tax Institute. We'll help confirm your wording is right.

Three reinstatements

Additional protection if your policy limits are exhausted — providing extra headroom per the policy wording.

Loss of third-party documents

If client records in your care are lost or damaged, this feature addresses that specific exposure in your cover.

Optional Cyber Liability ($250k)

Add $250,000 cyber cover to address data breaches, cyber extortion, and related costs — because PI doesn't extend to cyber events.

Why Abacus

Why accountants choose us for PI

We work only with accounting practices. That specialisation means faster quotes, plain-English documents, and renewals that don't cause headaches.

Built for accountants only

Questions that make sense for public practice — so quoting is fast. Clear summaries of what's in and what's out, without having to decode a generic product disclosure statement.

Renewal without the stress

Renewal nudges before the rush. We start early so you're never caught mid-busy-season without cover — and we handle the legwork of going back to market for you.

Compliant cover

Aligned with CPA, CA ANZ, IPA, ATMA and TI requirements. Straightforward renewals, responsive support when time is tight, and schedules that reflect the right limits and wording.

How it works

What we need to get started

Three straightforward steps from your details to a Certificate of Currency.

Tell us about your practice

Your structure, services, revenue, and any prior claims. The more context we have, the more tailored your options will be.

We do the market work

We handle the market and come back with options that fit your practice — no jargon, no runaround.

Confirm and get covered

You review, confirm, and receive your Certificate of Currency fast. We handle the documentation from there.

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Frequently asked questions

Common questions about PI

Straight answers to the questions we get asked most.

Do I need PI as a sole practitioner?

Yes. If you're in public practice, PI is typically a membership and regulatory requirement — and a practical safeguard against client claims. It's compulsory for members of CPA Australia, CA ANZ, IPA, ATMA, and The Tax Institute.

Does "unlimited retroactive date" mean everything is covered automatically?

It removes a time limit on past work, but standard policy terms, conditions, and exclusions still apply. Prior-known matters — incidents you were already aware of before taking out the policy — are not covered.

Is cyber included in PI?

Cyber events are generally not covered under PI. We offer an optional $250,000 Cyber Liability add-on to address data breaches, cyber extortion, and related costs — it's a practical addition for any practice holding sensitive client information.

Will this satisfy my professional body?

Abacus PI is designed to meet the requirements of CPA Australia, CA ANZ, IPA, ATMA, and The Tax Institute. We'll help ensure your policy schedule reflects the right limits and wording before you renew with your body.

Are contractors covered?

Often, if disclosed. Tell us how you engage your contractors and we'll structure cover accordingly — whether they're occasional subcontractors or regular engagements.

What limit should I carry?

We'll weigh your client size, contracts, and risk appetite and recommend appropriate limits. Your professional body may also specify a minimum — we'll flag that as part of your quote.

Ready to protect your practice?

Get PI cover that accountants actually rely on

Speak with people who understand accounting practices. Fast quotes, clear documents, compliant cover.

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Other insurance options

Other cover worth knowing about

PI is the foundation — but a complete practice protection strategy usually includes a few more pieces.