Underinsurance concerns mount as HNW clients cut cover – Ecclesiastical
Follow-up research among brokers by Ecclesiastical has pinpointed growing worries of high-net-worth underinsurance with a quarter of clients having reduced cover during the past year.
The insurer surveyed 100 brokers finding 29% believe all HNW clients are underinsured, up by 4% on a similar poll one year ago.
UnderinsuranceAreas where HNW clients are most underinsured according to brokers surveyed by Ecclesiastical:
Buildings (66%)Jewellery (62%)Contents (59%)Watches (53%).In the latest investigation, the top reasons why brokers think HNW clients are underinsured were out-of-date valuations (76%) and lack of awareness of the value of their property and possessions (74%).
The
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