As an accountant (and trusted advisor) you have an important fiduciary role. You single-handedly have a substantial impact on the welfare of your clients. We know you take that obligation – to act in the best interest of your clients – seriously.

PFP Inc provides a Canadian solution to help you meet that duty.

Read Dale Barrett’s testimonial letter (PFPInc_Jan 21 2017).

If your firm doesn’t warranty your clients’ tax returns (and even if it does), PFP Inc. can help with a custom solution to make sure both your clients and the firm is protected.

If you’re serious about helping your clients – even for things out of their control like tax audits – PFP Inc offers a number of simple solutions.

There are three core coverages PFP Inc can offer your firm:

  • Tax Investigation Insurance (TII)
    • Personal (for your clients)
    • Business (for the firm and clients)
    • Custom solutions for total or partial client base coverage
  • Legal Expense Insurance (LEI)
    • Personal (professional program for the Partners)
    • Personal (for your clients)
    • Business (for the firm and clients)
  • Professional liability coverage

After review of your firm’s profile and identifying where your firm wants to grow PFP Inc can offer a number of solutions to accomplish your goals:

  1. Adding value to your firm’s current service offering
  2. Better protection of your client base
  3. Personal coverage for the partners and their families
  4. Reducing historical lost billing revenue do to audit work
  5. Increasing revenue for the firm (on an annual basis)
  6. Better managing of the firm’s business risks (Legal and Debt recovery)
  7. Saving money on the firm’s professional liability coverage

The goal is to prove our worth to your firm at a pace of your choosing.

Providing us with this opportunity you will receive a custom solution for your firm, achieve cost savings and bring in new revenue.

Five reasons why your firm should put a Tax solution in place:

    • Offers another level of protection of the client
      from error or omissions
    • Provides significant help in advance level tax planning
    • Due to complexity of CRA requests provides a
      better service to your client and protects the firm
      from lost hours
    • Every client has their own policy and respective coverage limits
    • It can cost 0$

When your client has a review, audit or you want to appeal an assessment you can defend the client and bill us. We pay your professional fees up to $50,000

Tax Investigation Insurance (TII)

Protect your clients from the professional costs of a CRA or Provincial review or audit.

When your client has a review, an audit or you appeal an assessment you can defend the client and bill us. We pay your professional fees up to $50,000.

What is Covered

We will pay for professional fees (accountants’ and/or lawyers’ fees) to defend your client when they are audited, or reviewed by the CRA or Provincial authority; and when you appeal against a judgement for tax owed.

Business and personal policies are available.

Ask us about how you can protect your clients; we’ll develop a solution to fit your needs.

Protection for You, And Your Firm

For the Firm:

Business protection shouldn’t just be for your clients.

Your firm is a business with risks, just like any other. We offer you Legal Expense Insurance (LEI) for protection from legal action taken against you. Plus, you get unlimited legal advice, available 24/7.

You get coverage up to $100,000 per claim – $500,000 per year.

Even better, policyholders have access to the invaluable Legal Advice Helpline – 24/7 access to qualified advice on any legal matter.

Your Legal Expense Insurance Policy Covers:

Employment disputes
We will pay the legal costs to defend your legal rights in:

  • Wrongful termination lawsuits
  • Breach of Employment Contract
  • Individual complaint from a union on behalf of an employee or ex-employee from a collective bargaining agreement
  • Alleged sexual harassment, discrimination or invasion of privacy from an employee, ex-employee
Legal defence
We will pay the legal costs to defend your legal rights in:

  • When being investigated in an alleged criminal offence by the police or any arm of the occupational health and safety authority
  • When being prosecuted for an alleged criminal offence
  • Failure or alleged failure to comply with the protection of privacy legislation
  • Alleged failure to comply with CASL (Canadian Anti-Spam Law)
Contract disputes and debt recovery (optional coverage)
We will pay the legal costs to defend your legal rights in:

  • Selling or buying of goods
  • Providing or obtaining of services
  • Defend your rights to collect on debt owed for selling goods or services
Statutory license protection
We will pay the legal costs to represent you in appealing the:

  • Suspension of a statutory business license
  • Refusal to renew statutory business license
  • Cancellation of statutory business license
  • Unsolicited alteration of terms of a statutory business license
Property protection
We will pay your legal costs to pursue your legal rights in civil action relation to physical property when:

  • An event causes physical damage to such property
  • Actions resulting in interference or enjoyment of the use of your property
  • Trespassing
Bodily injury
We will pay the legal costs following a specific or sudden accident which results in:

  • Death
  • Illness
  • Bodily injury

For Accountants:

Accountants have their own lives to worry about, and being a CPA doesn’t preclude you from tax or legal trouble. For you, we have Tax and Legal Coverage for your personal affairs.

Personal Legal Coverage: PFP Personal +

A PFP Personal + policy protects you, your spouse and any children that live with you against a whole host of legal issues that could accompany life events or day to day activities. From traffic tickets, to contract disputes, PFP Personal + empowers you to stand up for your rights with a legal team at your disposal.

Coverage includes:

Employment Disputes
We will pay an insured person’s legal costs to pursue or defend their legal rights in a dispute relating to their contract of employment or future employment.
Contract Disputes
We will pay an insured person’s legal costs to pursue or defend their legal rights in a dispute relating to an agreement or an alleged agreement which the insured person has entered into for

  • (i) buying or selling goods (including the purchase, sale, rental, lease, service, repair, testing or cleaning of an insured automobile or its spare parts or accessories); and
  • (ii) obtaining services.

We will pay an insured person’s legal costs arising from a dispute with a leasing company regarding the amounts due under a lease in respect of the insured automobile in the event that it is declared a total loss by the insured person’s own automobile insurer following a collision. Provided that the amount in dispute exceeds $350.

Total loss valuation disputes
We will pay an insured person’s legal costs arising from a dispute with the insured person’s own automobile insurer regarding the value of an insured automobile in the event that the insured automobile is declared a total loss by the insured person’s own automobile insurer.
Driver’s licence protection
We will pay an insured person’s legal costs to defend their legal rights in relation to protecting their driver’s licence from being revoked or suspended following an event arising in connection with the ownership, use or operation of an insured automobile.
Legal defence
We will pay an insured person’s legal costs to defend their legal rights in relation to:

  1. being prosecuted for a highway traffic or motor vehicle offence in connection with the ownership, use or operation of an insured automobile; and
  2. being prosecuted for an alleged criminal offence arising from their work as an employee.
Driving other vehicles
The coverages provided under 4. Driver’s licence protection and 5. Legal defence (section 1 only) are extended to apply while you, or your spouse or civil partner or any son or daughter, normally living with you, is driving or is a passenger in any other motorized vehicle which is not owned or leased by that person.
Bodily injury
We will pay an insured person’s legal costs to pursue their legal rights following a specific or sudden accident which causes their death, illness or bodily injury.
Property protection
We will pay an insured person’s legal costs to pursue their legal rights in a civil action relating to physical property which they own or are legally responsible for following

  1. an event which causes physical damage to such property provided that the amount in dispute exceeds $250
  2. a legal nuisance (meaning any unlawful interference with the insured person’s use or enjoyment of their land, or some right over, or in connection with it)
  3. a trespass.
Tax protection
We will pay an insured person’s legal costs in respect of a tax review, tax appeal or a tax audit relating to their personal tax affairs. Provided that the insured person has taken reasonable care to ensure that all returns are complete and correct and submitted within the statutory time limits allowed. In addition, we will pay your personal corporation legal costs in respect of a tax review, tax appeal or a tax audit relating to your business tax affairs.
Unlimited Legal Advice
We will provide you and any other insured person access to a legal advice helpline through which you or they can receive confidential general legal advice and information over the phone relating to any personal legal or tax problem to help determine legal rights and options under the provincial laws of the applicable province and the federal laws of Canada.

Personal Tax Protection: Tax Investigation Insurance

Tax Investigation Insurance isn’t just for your clients. If you pay taxes, you’re have tax risk, even if you’re a CPA.

Tax Investigation Insurance for individuals offers coverage for any tax review correspondence with the CRA – from a minor review to a full audit. Remember, the coverage pays for your accounting and other professional fees so you don’t pay out of pocket for their work.

We cover costs relating to:
  • your personal tax affairs, as long as your taxes were complete, correct and submitted on time.
We do not cover: 
  • tax avoidance
  • gross negligence, dishonesty or criminal offences

How much coverage?

Tax Investigation Insurance provides more than enough coverage. The following amounts are available to cover accounting and professional fees incurred when defending a tax review, appeal or audit.

Type of Review Coverage Up To
Tax Review ($500 deductible) $10,000
Tax Appeal and Desk Audit ($500 deductible) $25,000
Field Audit ($2,000 deductible) $50,000
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