Professional Liability Insurance for Tax Preparers

[peggysioux]

My insurance company added coverage for cyber theft but is limited to 5% of Limit of Liability coverage so greatly reduces actual coverage. How are other tax preparers handling cyber insurance coverage? The only way I can raise my cyber coverage with existing policy is to increase my overall limit of liability coverage. I don't know if it would be more cost effective to obtain a separate policy for just cyber coverage.

[Dude]

I wonder if an umbrella policy would extend to due diligence violations. How do you protect yourself against someone who is intent on misrepresenting their situation to you?