VSW specialises exclusively in the professional liability insurance of auditors and tax advisors and has thus built up expertise over decades. We are the only provider with such a specialised, international expertise and see ourselves as a partner to the entire profession of auditors, as well as our policyholders, in Europe.
Our organisational structure
Owing to our special organisational structure as an insurance pool comprising three of the most important insurance companies, we enjoy outstanding economic solidity. At the same time, we combine the advantages of a small and professionally independent organisation. We offer our insured auditors and tax advisors the highest degree of trust and individual services based on a genuine and active partnership, and organisational culture.
Our close relationship with the auditing and tax consulting profession
Since the establishment of our organisation, the auditing and tax consulting professions have been represented on our committees. This method, which is firmly anchored in our institution, is used to facilitate a professional exchange between auditors, tax advisors and us in order to promote mutual understanding.
Our task is to contractually design the individual insurance coverage of the auditors and tax advisors insured with us and to advise them on liability and coverage on an ongoing basis. In the event of a claim, we stand by our policyholders by settling justified claims for damages and dismissing unjustified claims in order to protect the reputation of the auditors and tax consultants insured with us.
Our employees and partners
Our experienced employees deal exclusively with the professional liability insurance of auditors and tax consultants and are highly specialised. In addition, we are supported by a permanently optimised international network of specialised lawyers.
For decades, the “Versicherergemeinschaft für das wirtschaftliche Prüfungs- und Treuhandwesen” had been known as a specialised provider of professional liability insurance under the name “Versicherungsstelle Wiesbaden”. At the beginning of 2018, the traditional brand was transformed into “VSW – The Insurance Pool for Accountants” and given a new look. This does not change any of the proven benefits for existing insurance relationships with the customers. Nevertheless, the external change is not only cosmetic in nature: it symbolises the internal changes of recent years and the future-oriented position of the insurance pool.
The change to the name has no effect on the existing insurance coverage under the previous name “Versicherergemeinschaft für das wirtschaftliche Prüfungs- und Treuhandwesen” (Versicherungsstelle Wiesbaden) – therefore no new insurance policies are required. The contracting parties to the insurance contracts are – as previously – the insurers Allianz Versicherungs-AG (42%), AXA Versicherung AG (34%) and ERGO Versicherung AG (24%). Nothing has changed in this shareholding.
There are various reasons for modifying the brand name and the visual appearance. Organisational culture has changed in the recent past, but has still adhered to the values that have evolved over time. Neither this modernisation nor the pronounced awareness of values and tradition with its approximately 80-year-old roots were adequately expressed in the appearance that has existed for decades. The simple and pragmatic abbreviation VSW takes account, among other things, of the internationalisation of the business field and digitisation. The existing name also proved to be too unwieldy in Germany, partly misunderstood because of the local reference and considered to be outdated overall.
The strong insurance pool emerged from the first initiatives in the 1930s to establish professional liability insurance for the still young profession of auditors. With its distinctive and constantly growing expertise, VSW remains a unique specialist insurer of professional liability insurance for auditors and tax advisors to this day.
Contractual partner of the insurance contract
VSW – The Insurance Pool for Accountants is a cooperation of the following insurers: