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Protect your reputation and stay compliant

Trafalgar Risk Management offers tailored insurance designed specifically for ICAS members.

Professional Indemnity Insurance Tailored for ICAS Members

Trusted, compliant cover designed to protect your practice, reputation, and career—exclusively arranged by Trafalgar Risk Management Ltd.

Maintaining a professional indemnity policy is essential to protect against claims of negligence, errors, or omissions in your professional work—whether from clients, regulators, or third parties. It ensures compliance with regulatory standards while safeguarding your reputation and finances. Trafalgar Risk Management Ltd is the trusted choice for accountancy professionals, offering tailored policies, competitive premiums, and backed by 30 years of experience providing policies to associations and institutes in the financial services sector.

Why This Policy Benefits ICAS Members

Full Civil Liability Cover

Protects against a wide range of professional claims, including negligence, misrepresentation, defamation, and unintentional breaches of confidence.

Fidelity Guarantee Protection

Covers direct loss of money due to theft or fraud committed by employees—an added safeguard for your firm’s financial integrity.

Defence Costs Included

Legal defence costs are covered with prior written consent, ensuring financial support if a claim progresses to legal proceedings.

Sub-Contractor and Outsourcer Cover

Includes cover for claims resulting from the work of subcontractors, so long as rights of recovery are maintained.

Social Engineering Attack Cover

Protects against liability resulting from deceptive cyber tactics like phishing—an increasingly relevant risk in modern accountancy practices.

Document Loss Cover

Provides indemnity for costs associated with the loss or damage of professional documents in your care.

Worldwide Cover (Excl. US/Canada)

Offers peace of mind for globally operating firms with cover applicable worldwide (excluding USA and Canada), subject to UK jurisdiction.

Specialist Broker Support

As the approved broker, Trafalgar Risk Management Ltd offers expert service tailored to the accounting profession, ensuring compliance and responsive claims handling.

Our policy covers the ICAS requirements*

  • Subject to Regulation 4.3 and 4.4, the annual minimum limit of indemnity shall be £2.0 million for any single claim and in aggregate.
  • Where the Firm’s Gross Fee Income is less than £800,000, the annual minimum limit of indemnity for any single claim and in aggregate shall be a sum equal to two and a half times its Gross Fee Income subject to a minimum level of £250,000.
  • A Firm shall annually confirm its compliance with the requirements of these Regulations at a time and in such a manner as may be prescribed by the Committee.

* As taken from the ICAS website directly (ICAS PII Regulations 29/05/2025) as of 26/06/2025.

Protect Your Career, Your Way

As a member of ICAS, a pathway has been created which gives members the opportunity to become members of ACCA, without any further assessment requirements. Therefore, as providers of ACCA insurance policies, we are able to extend this policy to also cover the needs and requirements of ICAS members.

As an ICAS member, you can do more than just meet the minimum - you can customise your cover to fit your business perfectly.

At Trafalgar Risk Management Ltd, we offer a range of optional add-on insurances designed to complement your Professional Indemnity Insurance and give you complete peace of mind. Whether you're a sole trader or running a growing practice, we've got the extras you need to stay fully protected.

Additional cover options available (in addition to Professional Indemnity insurance):

  • Public Liability Insurance (£1,000,000 / £2,000,000 / £5,000,000 limits available)
  • Employers Liability Insurance* (£10,000,000 limit available)
  • Legal Expenses Insurance (Including 'Contract & Debt / Excluding Contract & Debt limits available)
  • Cyber Insurance (£100,000 / £250,000 / £500,000 limits available)
  • Office Contents, Office Computer Equipment, Portable Equipment Insurance (up to £20,000 combined limit available).

*In conjunction with Public Liability Insurance.

Let us build a policy around you - tailored, flexible, and fully compliant.

Protect what matters most with Trafalgar Risk Management Ltd.

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Our aim is to make the buying or renewing of your insurances as streamlined as possible.

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