The definition of what constitutes a professional service has evolved considerably with the progression of technology and an evolving risk landscape.

This change to the nature of professional services has impacted the professional indemnity market and the relevance of insurance for modern-day professionals.

The evolving professional

To understand the evolution of professional services, we need to examine the services traditionally considered “professional”, for example, in the 1970s.

At that time, the concept of professionalism was confined to a relatively limited number of fields, such as law, medicine and accounting.

Professionals in these fields were defined by the set of skills and knowledge they acquired to practice. They were expected to have undertaken extensive training and a high level of specialisation to qualify.

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