Financial and Tax Advisors Liability Insurance in Iran
For licensed financial advisors, tax advisors licensed by the Tax Administration and financial consulting institutes.
Persian twin page (authoritative): /liability/professional/financial-advisors
Short answer
Financial and tax advisors liability insurance in Iran compensates the client's financial loss and attributable penalties caused by faulty tax advice, defective financial planning and erroneous calculations or feasibility reports, up to the policy limit, and funds the advisor's legal defense in client lawsuits and proceedings before financial regulatory bodies.
The final premium is issued upon official quotation — no premium figures are published on this site.
Who needs this policy?
- Licensed financial advisors holding an official services permit
- Tax advisors licensed by the Iranian Tax Administration
- Financial consulting institutes and their partners
- Investment advisors acting within the relevant permit
- Independent chief financial officers and corporate budgeting consultants
- Personal financial planning institutes working under written consulting contracts
What is covered?
| Coverage | Description |
|---|---|
| Defective tax advice | Compensation of losses and attributable penalties arising from faulty tax recommendations, upon proof of the advisor's fault. |
| Financial planning errors | Cover for the client's financial loss caused by wrong analysis, defective cash-flow calculations and unrealistic project appraisals. |
| Client penalties | Compensation of penalties and financial damage attributable to the advisor's performance, within the limit recorded in the policy. |
| Reliance on financial reports | Cover for third-party losses caused by reliance on the advisor's defective reports and feasibility studies, under the general conditions. |
| Legal defense costs | Attorney fees and court costs in client lawsuits and regulatory proceedings arising from the insured event. |
| Institute staff liability | The advisor's liability for acts of dependent staff of the institute, within the scope recorded in the policy. |
What is not covered? (Exclusions)
- Losses from market fluctuations and the client's own decisions made without relying on the advisor's report
- Guaranteed investment returns or assured profit promises, where proven
- Incidents occurring outside the policy period; the trigger is the incident date
- Intentional fault, misuse of client funds and fraud
- Loss caused by incorrect information provided by the client
- Administrative penalties of financial regulatory bodies
Issuance conditions
- A valid financial or tax services permit on the date of the error
- Advice delivered under written contracts with documented records evidencing performance
- Accurate declaration of the service scope at issuance
- No undisclosed claims from previous policy periods
Required documents
- Valid financial or tax services permit or license
- National ID and identity documents
- Previous liability policy, for claims history and no-claims discount
- Sample consulting contract, where required
- Institute registration documents, when the policy is issued to an institute
How to buy — step by step
Quotation and limit selection
Submit the quote request; the advisor is asked to declare the service scope, and a limit of liability is proposed accordingly.
Documents and official proforma
After the permit and identity documents are received, an official proforma invoice is issued on the approved Bimeh Iran tariffs.
Premium payment
Pay through the banking gateway or a bank receipt; cover starts the moment issuance is confirmed.
Policy delivery
The printed and electronic policy with its general conditions is delivered within one working day.
How to claim — step by step
Immediate notification
Report the client's claim to the agency as soon as it is received; the policy sets a maximum notification period of five working days.
Claim form
Complete and sign the claim form describing the advice or report under challenge and the alleged loss.
Case documents
Submit the consulting contracts, the reports and calculations, the correspondence with the client and the regulator's findings, if any.
Assessment of fault
The adjuster examines whether the loss is attributable to the advisor's performance or to the client's own decisions.
Agreement and payment
Once liability and the amount are established, compensation is paid subject to the policy deductible.
Claim notification deadlines and assessment details follow the policy general conditions and the Iranian Insurance Act (Article 30 practice: notification within five working days).
FAQs — Financial and Tax Advisors Liability Insurance
Legal sources
Civil Liability Act of Iran (1960) — Articles 1 to 11 — fault-based civil liability
Iranian Insurance Act (1936) — Articles 12 and 30 — insurable interest and claim notification
General Conditions of Professional Liability Insurance (Bimeh Iran) — Central Insurance Regulation No. 57
Iranian statutes are authoritative in Persian; English titles above are orientation references.
Reviewed by the Iran Liability Insurance content team
Reviewed by the licensed team of Agency No. 20616 of Bimeh Iran, specialized exclusively in liability insurance.
Legal review: licensed team of Agency No. 20616, Bimeh Iran — Last reviewed: 24 October 2026
Get Financial and Tax Advisors Liability Insurance through the official Bimeh Iran agency
The online quote form is in Persian. English-speaking visitors may submit inquiries by email in English, and a consultant will respond in English. The quotation is issued on current Bimeh Iran tariffs after the limit of liability is agreed.