Association of Accounting Technicians Professional Indemnity Insurance
Professional Indemnity Insurance is a mandatory requirement for all members in practice.
In light of this, we have designed a scheme specifically for the Association of Accounting Technicians, providing cover against members statutory, as well as contractual obligations. However, run-off cover is not automatically included under the scheme.
Minimum levels of cover are set at 2.5x gross fee income, with minimum levels of £50,000 for sole traders and £100,000 for partnerships and limited companies. The cover also takes into consideration the broad range of duties and activities undertaken by AAT Members in Practice.
We use single source underwriting for each specific section i.e. we do not obtain quotes on each individual enquiry, but have in place pre-arranged premiums and cover with one insurer. We then continue to monitor the competitiveness of our underwriter during the year and any adjustments, or change of underwriter will occur at the end of our scheme policy period.
However, the underwriters we do use have been with us for a number of years, therefore ensuring premium stability.
The scheme is available in two formats, both of which provide the widest cover available for the most competitive premiums.
AAT Insurance is always being updated, so if you have any suggestions
or comments regarding the scheme, please let us know and we will endeavour to meet your demands.