E and O Insurance

[S T]

With the recent post of the "preparer error" I guess it reminds us all about E and O Insurance.
Also concerned with issues with the Form 3115 and the Elections for 1.263 -------- and let us not forget the ACA reporting, that we are all facing for the 2014 and upcoming 2015 tax filings.

Would any posters like to share their thoughts on the E & O providers that they are enrolled with and possible costs

Thanks

Sandy

[Lion]

I bought mine via NAEA's group E&O, because it was cheaper than what I had when I started out. Check with your professional organizations for group rates.

[geekgirldany]

I've got mine from Philadelphia Insurance Co through NATP. About $400 a year. Keep it because you never know.

[BP.]

thoughts on the E & O providers that they are enrolled with and possible costs

Tax preparer's E&O policy with CNA Surety through PA Assoc. of Notaries (PAN) for $363/yr.

[ttbtaxes]

AICPA Professional Liability Insurance program. $1,600

Question...I assume anyone who is not a CPA would be operating within an LLC or corporate structure. Wouldn't that provide personal protection from a catastrophic mistake? You'd want an E&O policy anyway but might not have to have large limits if you can protect yourself through entity selection.

Edited to find premium rather than original estimate

[kamckinley]

AICPA Professional Liability Insurance Program, $1,000 deductible, $482 per year.