Any business or individual operating in a professional capacity can be held liable if an error or omission in their advice or services causes a financial loss to a third party. Bookkeepers are no different.
Professional indemnity insurance provides cover for both the cost of defending such claims, and for subsequent damages for which the policy holder is liable.
OptiAccounts has a Professional Indemnity Insurance of £100,000 with Qdos on an ‘any one claim’ basis – i.e. the limit of indemnity will apply to each claim made under the policy independently.