All CPA firms are required by CPABC to carry professional liability insurance, but this policy does not address medical emergencies or disasters. You and your insurance advisor should regularly review your insurance coverage, which might include:
- Key person life insurance and/or income replacement insurance;
- Fire, flood, and earthquake insurance; and
- Property and business continuity insurance.
If you have staff, make sure you understand your obligations regarding workplace safety and workers’ compensation. Visit WorkSafeBC for more information.