Biz Cover

BizCover is proud to be the preferred insurance partner of NZQBA

Understanding Business Insurance for Bookkeepers

When you provide a professional service to someone in exchange for a fee, or even without a fee, you have a duty of care to deliver on the services you committed to and to do so to a certain standard. Any failure to provide a certain level of service can create a potential liability that can be founded on one of three grounds; under contractual law, statutory law or a tort.

As a bookkeeper, you should consider your treatment of this potential liability or risk. If you decide to absorb the risk, this could have a significant impact on cashflow and the financial stability of your business. Instead, you may reach the view that it better to look to transfer the risk and mitigate losses by having the right insurances in place.

Insurance companies are created for and specialise in accepting these risks. At claim time, they have a wealth of expertise and resources to deal with the issues and keep claimants at bay or settle claims where there has been an obvious error.

As a qualified bookkeeper, there are several insurance covers available to protect your business. Typically, the key covers are Professional Indemnity, Public Liability and Statutory Liability.  There are alsosome other covers that can help keep your business protected.

 

Don’t leave it up to chance! Make a calculated decision to insure your bookkeeping business.

BizCover is proud to be the preferred insurance partner of the New Zealand Qualified Bookkeepers association. We offer a tailored insurance package from AIG at a heavily discounted rate for NZQBA members. Just head online and use the code NZQBA19 at the checkout to take advantage of this great offer. Or give us a call, on 0508 249 268, Monday to Friday 8am to 8pm and one of our friendly team will be able to assist.