Analysis

In Focus: Is high net worth cover ‘too generous’ for clients?

By 2023-01-18T11:56:00

breaking barrier, generous

Broker leader reveals potential ‘recipe for disaster’ from having ‘underpriced’ premiums and ‘too good’ cover in the HNW market

Typically, the narrative that most concerns high net worth (HNW) brokers is underinsurance because the potential for inadequate sums insured around expensive properties, jewellery, vehicles and art collections can dent the reputation of the “concierge service” environment that HNW brokers operate in.

However, one broker leader has told Insurance Times that he is concerned that HNW “cover is too generous to the clients”, meaning that “premiums are underpriced” and “the cover is too good”.

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