Legal claims from clients over fraud and fees could increase Professional Indemnity premiums.
Litigation against accountants is likely to increase as economic conditions deteriorate, a leading insurance broker has warned.
Any increase in legal claims against accountants could push up Professional Indemnity insurance premiums paid by accountancy firms, Marsh added.
Troy Russell, a vice president in Marsh’s financial and professional practice, said: 'In 2008, the PI market for accountants and auditors continued to soften and many firms received premium rate reductions.'
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