Accountants and statutory auditors
One of the many professions in which there is a rapid increase in demand for professional liability is the profession of accountant.
The obvious causes are the significant increase in the work and requirements of the profession, especially as regards transactions with tax authorities.
An insured person is an accountant-tax consultant as a freelancer as well as accounting or tax offices.
Ø Purely financial damages provided by a covered event occurred during the life of the policy and are due to acts or omissions of the insured person directly and exclusively related to his activity, resulting from the interpretation and application of Greek law
Ø Expenditure for legal or extrajudicial support, including interest, court fees, expert expenses appointed by the company.
Ø The necessary expenses incurred with the company's consent for the investigation, verification, rebuttal, claim, harm to a third party from a covered event, including the costs and expenses of conducting a relevant trial
Ø Loss of documents
Ø Credibility of employees
Ø Dissipation and slanderous defamation
Ø Incorrect professional advice
Ø Costs of court presence
Ø Violation of personal data
Ø Contract mistakes
Ø Violation of intellectual property rights
Ø Breach of duty & privacy
Ø Requirements arising or attributable to non-observance of deadlines where the insured maintains an adequate system of monitoring, timetable management, obligations and deadlines
Ø Defense costs irrespective of the category's merits
Ø Amount of possible out-of-court settlement
Ø Inappropriate preparation of tax returns
Ø Non-compliance with accounting regulations