Fee protection - to offer or not?
I know this is a regular question that is raised. It is certainly one that I have a perenial problem with.
I have been in practice now for 6 years and to date I have gone down the route of not offering fee protection to clients. I have had minimal enquiries over this period and I have largely absorbed the work/costs arising. I am not sure whether I have just been lucky so far with the number of enquiries to date.
I have never been a fan of this type of insurance but it does get raised occasionally by clients so I see it as my duty to keep it under review. I also get bombarded with offers from firms promoting the protection.
I wonder how many other accountants in practice there are like me with this ongoing dilemma of whether to offer it or not. It would also be interesting to learn from those that do offer it, how many wish they could now cease to offer it?
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