Professional Liability for Tax Preparers and Bookkeepers
Qualifying Questions
Application Questions
Annual Premium Indication
Signature and Payment
PLEASE ANSWER THE FOLLOWING QUESTIONS TO DETERMINE YOUR ELIGIBILITY FOR THIS PRODUCT.
What is your zip code ?
Do you currently have E&O coverage with AMBA?
Yes
No
Do you provide services other than Tax Preparation
Tax Preparation Services means:
preparation of tax forms;
tax calculation;
representation before a tax authority by an Insured authorized to practice before such authority, in a tax collection or tax audit matter in connection with sub-paragraphs 1. or 2. above; or
services performed as a notary public; but only performed in connection with Professional Services.
and/or Bookkeeping?
Bookkeeping Services means:
recording numerical data in order to develop and maintain financial records;
maintaining a general ledger and posting adjusting journal entries;
preparing bank deposits;
compiling data from cashiers to verify and balance receipts;
verifying documents for mathematical accuracy and proper codes;
balancing and reconciling billing vouchers;
posting transactions in journals and on computer files and updating files as needed;
reviewing computer printouts against manually maintained journals and making necessary corrections;
reconciling computer reports and operations reports; and
preparation and processing of payroll.
Yes
No
Has the firm provided any tax advice, counsel or opinion, or sold or prepared any sales material with respect to tax shelters or other tax advantaged investments?
This Policy does not apply to or provide coverage for:
activities other than Professional Services, including, but not limited to, the giving of tax advice or counsel or the selection or making of any irrevocable election(s) on such returns;
any Claim based on or arising out of representations made or opinions rendered by an Insured in connection with the performance or nonperformance of securities, tax shelters, mutual funds, real estate or other investments;
Yes
No
Has the firm had any professional liability insurance declined, cancelled or non-renewed? (NOT APPLICABLE IN MISSOURI)
Yes
No
Has the firm in the last 5 years had any Claims paid or reserved greater than $5,000?
Yes
No
Has any member of the firm been subject to any disciplinary or regulatory investigation or inquiry; suspended from practice; or charged, indicted or convicted of any felony charge?
Yes
No
Is any member of the firm aware of any fact, circumstance, situation or fee dispute that might reasonably be expected to result in any professional liability claim or suit?
Yes
No
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