A professional for the purpose of professional indemnity insurance is typically someone who studied, went for apprenticeship, eventually get admitted to a professional or trade association. Some professional may choose to work for an organisation and some may open their own practice. Some of the common professionals are accountants, solicitors, architects and engineer. There are also others which many are unaware of such as chiropractors, surveyors, property managers and real estate agents. Basically it can also be said that trades requires a qualification or license before one can legally practice falls under this definition of professionals. The Professional indemnity insurance covers against the legal liability to pay damages to persons who have sustained financial loss arising from the professional negligence. The insurance indemnifies against professional liability and also the defence cost and expenses incurred in respect of a claim.
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