Number of employees
70-99
In the early 1980s, CPAs were faced with a mounting liability insurance crisis. The major insurance carriers - victims of their own rate-cutting war - found themselves with insufficient funds to cover their claims. Most companies discontinued their professional liability insurance coverage for CPAs. Those who continued to offer CPAs liability insurance imposed huge premium increases to cover cash shortfalls. As a result, liability coverage became unaffordable for many CPAs.