About HKICPA Professional Indemnity Insurance
HKICPA PII is a Professional Indemnity Insurance Master Policy (Master Policy or PII) available to Certified Public Accountants ('CPAs') of the Hong Kong Institute of Certified Public Accountants (HKICPA) since December 1996.
The Master Policy is administered and managed by Aon, the appointed broker. Aon is a leading global professional services firm providing a broad range of risk, retirement and health solutions. For more information about Aon, click here.
The Master Policy provides CPAs with easy access to cost-effective and comprehensive professional indemnity insurance (PII). It features a variety of plans tailor-made for CPAs need. Over the years, PII has been proven to be an effective risk transfer tool to protect CPAs against any legal liability arising from professional negligence, errors or omissions and to fund the associated legal costs.
Important Note for Corporate Practices
As per Rule 4 of the Corporate Practices (Professional Indemnity) Rules, Corporate Practices are required to maintain a valid PII under the Master Policy and any additional insurance as required in order to ensure compliance with the various requirements set out in Rule 5.
When arranging PII, Corporate Practices are specifically reminded to meet the minimum requirements according to the Rules.
Scope of Coverage
The Master Policy is a Claims-Made policy that is designed to protect CPAs against claims for financial losses due to a breach of professional duty. It indemnifies sums which the Insured is legally liable to pay as compensation for claims arising out of negligence, misrepresentation, error or omission in the performance of their insured professional services. Under Rule 5, Corporate Practices are required to insure all professional business undertaken by them. Accordingly, Corporate Practices should declare their professional business and respective revenue to the Insurer prior to incepting or renewing the PII.
Examples of professional services include auditing private and/or listed companies, tax advisory, company formations, investment advice, insolvency, receivership, liquidations, financial investigation and reports.
CPAs are required to disclose their Professional Services to the Insurer before incepting PII and advise the Insurer on any changes in the subsequent renewals.
For clarifications about the scope of cover, please may contact the Aon Team at [email protected] or 2862 4243.
Legal Cost Cover
The Master Policy also provides cover for legal defence costs, which include costs and expenses incurred in defence or settlement of any claim/loss or potential claim/loss.
The Master Policy offers Legal Defence Cost In Addition to the policy limit, which is a unique feature that provides extra security and protection.
The Master Policy cover also extends to all reasonable costs, charges, expenses and/or legal representation costs (subject to a sub-limit as stated in the policy) incurred in connection with any actual or potential criminal, regulatory or disciplinary investigation, enquiry or proceedings.
Insured Party
The Insured includes the practice, former, present or future directors, and partners. The Master Policy’s cover is also extended to employees, self-employed persons, contract staff or any person acting on behalf of the Insured.
Claims-Made Policy
The Master Policy is on a Claims-Made basis, where the Insurer will cover the Insured for claims made against the Insured and reported to the Insurer during the Policy Period, or where applicable, the Extended Reporting Period. The Insured are reminded to report any claims or circumstances which may give rise to claims to Aon before the policy expires. Late reporting of claim(s) or circumstance(s) may jeopardise the Insured’s interest under the policy.
PII Policy Document
You will be provided the policy in electronic form once the insurance takes effect. We will also issue the necessary documents to support your registration as a Corporate Practice in compliance with the Rules.
HKICPA Professional Indemnity Insurance Renewal Onboarding Session (Online Renewal Demonstration)
To give us a chance to get closer to you and deliver our message in more direct way, we have hosted two virtual briefing sessions on 13 and 16 October, 2025. In the briefing sessions, we have walked through the general information of the HKICPA PII, key message of the upcoming renewal and our Online Renewal Platform with CPAs.
If you have missed the sessions or you would like to revisit the session, please click below to download the playbacks and presentation materials.
HKICPA Professional Indemnity Insurance 2026 Mid-year Briefing
If you have missed the briefing session held on 13, 20 July 2026 or you would like to revisit the session, please click below to download the playbacks and presentation materials.
