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Professional Liability Insurance for Payroll Administrators

Quote and buy professional liability insurance online in minutes.

What is payroll administrator professional liability insurance?

As a payroll administrator, you’re often required to wear many hats and deal with numerous complex financial issues. Unfortunately, you also run the risk of facing legal action if a client or employer believes you’ve committed an error or omitted important information during the course of your duties as a payroll administrator.

Many corporations and financial agencies currently have some form of commercial general liability insurance in place. Unfortunately, these types of policies typically don’t cover claims based on professional services or advice. As a result, you could be sued and held personally responsible for any financial damages that have occurred during your role as a payroll administrator.

Thankfully, EasyCover provides payroll administrator professional liability insurance—a specialized coverage designed to help pay for legal expenses if a client sues you over services or advice you’ve given. You can even get the coverage you need using our easy-to-use online tool.

Get a free professional liability insurance quote, secure your policy and pay for it—all in less than five minutes. It’s the fast and easy way to get affordable and effective coverage.

Common
claims scenarios for payroll administrators

Incorrect deductions

An error in tax deductions is found for several employees. It will be necessary to recover the amounts. This causes dissatisfaction to employees, additional efforts for the payroll team, financial impact and reputational damage for the company. 

Issues with contractors

Incorrect information for a contractor was entered in the system. This caused a significant delay on their payment. The result was financial stress for the contractor, as well as reputational damage to the company. Your client holds you responsible.

Overlooking non-traditional forms of compensation

Failing to report non-traditional compensation to the revenue agency may result in penalties for the company. Non-traditional forms of compensation can include gift cards, travel awards or stock options.