The importance of new technology to accountants and small business owners

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New and web-based technologies are taking on an increasingly important role for both independent accountants and small business owners, according to a recent survey by the company Intuit.The survey included 1,217 small business owners and 1,200 accountants who use Intuit’s services. From the group, 39 percent of accounting professionals and 35 percent of small business owners reported having invested in technology as a means to expand their business.

In addition, 74 percent of accountants believe online applications will be integral to their craft in the future and 38 percent already use them. Also, 60 percent of small business owners believe mobile phone applications will also be essential to their businesses, according to the survey.

Though investing in new forms of technology seemed beneficial for these professionals, unfamiliar platforms and devices can sometimes lead to errors that result in conflicts, or in some circumstances, lawsuits. Professionals desiring to expand their clientele through the introduction of new technology may benefit from first ensuring they are adequately covered with professional liability insurance.

General Liability Insurance

What Is General Liability Insurance? Commercial General Liability Insurance protects small-business owners from claims of injury, property damage, and negligence related to their business activities.

Workers’ Compensation

What Is Workers’ Compensation Insurance? Workers’ compensation insurance covers your employees’ medical expenses and at least some portion of their lost wages if they are injured on the job.

Business Owners Policy

What Is a Business Owners Policy? A BOP is simply bundled insurance designed to provide essential coverage to certain business owners at a competitive price. A BOP insurance coverage includes

Professional Liability Insurance

Professional liability insurance also called , errors and omissions insurance (E&O; insurance), protects you if a client claims that your services caused them to suffer a financial loss. While general liability insurance is primarily focused on property damage or bodily injury,

Disability Benefits Insurance

Employers in New York State are obligated to offer disability benefits insurance to their employees. This coverage is specifically designed to provide financial assistance in the event of off-the-job injuries or illnesses.

Business Umbrella Insurance

Without Business Umbrella Insurance (also sometimes called Umbrella Liability Insurance or Excess Liability Insurance ), you would have to pay the uncovered expenses out-of-pocket. Even if you carry General Liability Insurance for your business, without business umbrellainsurance you might face a repair, settlement, or judgment in excess of your coverage limit.

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WeInsureXYZ provides Best Business Insurance Quotes in New York for small business, including the self-employed and companies with 10 or fewer employees. The information contained in this website is for illustrative purposes only. Coverage issuance is subject to underwriting and is expressly subject to the conditions, restrictions, limitations, exclusions and terms of the policy documentation issued by the insurer. Availability of this program is subject to each state’s approval and coverage may vary by state. WeInsureXYZ allows businesses to apply for insurance and receive multiple quotes from leading insurance carriers including CNA, Guard, The Hartford, NEXT, Travelers, Hagerty, BHHC, PIE, Atune, Progressive, Chubb and Hiscox. We offer business owners a variety of insurance protection, including: General liability insurance, professional liability, errors & ommissions, excess liability, umbrella insurance, workers compensation, fidelity bonding, and more.