Embroker expands coverage for accountants and tax pros to serve.

TLDR:

• Digital business insurance provider Embroker is expanding its Embroker ONE platform to include coverage for financial services professionals such as accountants, bookkeepers, and tax preparers.
• The Financial Services Program on the Embroker ONE platform offers coverage for professional liability, cyber risks, and business insurance, tailored specifically to the needs of accountants and tax professionals.

Digital business insurance services provider Embroker has expanded its Embroker ONE platform to offer coverage to financial services professionals, such as accountants, bookkeepers, and tax preparers. The Financial Services Program on the Embroker ONE platform provides these professionals with access to coverage for professional liability, cyber risks, and business insurance. Embroker developed this program after surveying accountants about their insurance needs. The survey found that financial services professionals face complex risks, resulting in some insurers providing one-size-fits-some policies. Embroker expanded its coverage options on the ONE platform to tailor choices for accounting and tax professionals. The company also connected more appropriate coverage options into the platform, such as coverage for errors, omissions, and malpractice claims. In addition, Embroker found that a significant percentage of accountants admitted to making errors, with the majority of those errors resulting in financial liability. Embroker ONE was designed to meet the insurance needs of businesses, allowing for vertical expansion and development of industry-specific insurance programs. The platform provides underwriting insights and third-party data to ensure accurate coverage and pricing. Embroker aims to address the distinct risk profiles and needs of accountants and tax professionals with its updated ONE platform. Among the risks encountered by these professionals are cyber attacks, with a notable percentage experiencing attempted cyber attacks. Embroker’s Financial Services Program is designed to cater to the specific insurance needs of accountants and tax professionals, providing coverage that is tailored to their unique industry.