In this episode of RiskyRecords, Stephen welcomes Dogan Tuncel from McGowan Program Administrators for a deep dive into the growing impact of mergers, acquisitions and private equity in the accounting profession They break down how PE firms are entering the space — whether by investing in established regional firms or building new platform entities that bring multiple practices together under one umbrella. With the profession shrinking due to retirements and a limited pipeline of new talent, they explain why accounting has become such an attractive market for investment firms.
The conversation also unpacks what these transactions mean for professional liability insurance for all size firms, from the complexities of shared limits versus standalone policies to the risk considerations firms must evaluate during a sale. A key highlight is McGowan’s NewStart standalone extended reporting period program, designed to provide a competitive alternative to traditional tail coverage. With flexible options to adjust limits and deductibles — and even solutions for firms without prior insurance — the program offers practical strategies for navigating firm transitions in a rapidly evolving marketplace.
Dogan selects Escape by Journey — the 1981 classic featuring hits like “Don’t Stop Believin’.” Its themes of change, ambition, and forward momentum provide the perfect soundtrack for firms preparing for their next chapter.