[T009]

tax preparers errors and omissions

A professional liability or errors and omissions insurance coverage designed specifically to meet the needs of accountants, bookkeepers, and similar professionals involved in the preparation of tax returns for other parties. Designed to cover negligence, errors, and omissions that may occur during the rendering or failing to render of those services. One feature frequently found in this type of policy is that both the tax preparation service and the individual tax preparers may be covered in one policy.