Underinsurance is one of the most common and costly mistakes that businesses and property owners make. It occurs when the sum insured on your policy is less than the actual cost to rebuild, replace, or repair your assets
When it comes to protecting wealth, standard insurance policies often fall short. High-net-worth individuals (HNWIs) typically own unique assets, live in exceptional properties, and lead lifestyles that require a more tailored approach to risk management.
A survey of high-net-worth individuals in the UK discovered almost half (46%) are worried their friends and family overshare information about them and their lifestyles on social media.
The global art market performed strongly in 2021. Art and antiques sales by dealers and auction houses reached an estimated $65.1 billion, up 29% from 2020. These values also surpassed pre-pandemic levels of 2019.
Research reveals that three-quarters (72%) of brokers believe there is a problem with high net worth private clients being underinsured.
