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It’s a Good Time to Buy Liability Insurance

October 4, 2017
Accounting Today

In an article published on Oct. 2, 2017 by Accounting Today, Larry Campagna provides his insight on why liability insurance is important in tax transactions. In a litigious society, even the most trusted advisors in the public realm face a chance of being sued by their clients.

“Simple errors can lead to heavy claims,” explains Campagna. “In my largest case, the plaintiff sued a Big Four firm for $120 million claiming that the firm had incorrectly prepared its Form 990. We went through a three-week trial and were successful – the plaintiff got nothing. But it’s not a fun experience for an accountant in the docks. Having insurance and having the insurance company providing experienced counsel to handle matters is very comforting at a time when allegations are being made, whether they are true or false.”

You may read the full article here.