We will design a solution that optimally covers all your risks associated with your profession, so that you can focus on your clients.
Auditors and audit firms are required to make provisions for their liability for any losses suffered in connection with audit practice. To protect the clients of audit firms, the law stipulates that all auditors must have a professional liability insurance. RENOMIA specialists will help you calibrate your insurance contract so that it covers all the risks associated with the specifics of your audit practice, and goes beyond the scope of insurance required by the law.
Professional liability insurance covers:
financial losses suffered by clients as a result of a breach of statutory duties under industry regulation and generally applicable laws and bylaws
costs of legal representation
Main risks of audit practice:
damage to documents in care in connection with audit practice (books of accounts, for example)
loss of life, damage to health and property of third parties under general liability for losses in connection with audit practice
losses suffered as a result of actions mandated by or for the benefit of parent, subsidiary or associated entities