Bonning & Bonning is the name of an accounting partnership which specialises in taxation advice.It has a 5 year lease over a three- storey office building next to Sydney harbour.The firm has over 30 visitors per day.Which of the following insurance policies will Bonning & Boning need to take out to ensure they have adequate protection against risks that apply to their situation?

Question

Quizplus · Accepted Answer

Bonning & Bonning will need to take out professional indemnity insurance to protect themselves from any legal claims arising from their tax advice. They will also need to take out industrial special risks insurance to cover risks associated with their office building, such as fire or natural disasters. Marine insurance would not apply in this situation as the firm does not deal with any marine or shipping-related activities. Therefore, the best choice is A and B above only.

Bonning & Bonning Is the Name of an Accounting Partnership