- Cybersecurity insurance to protect against the financial and reputational risks associated with cyber attacks and data breaches, which are becoming increasingly prevalent among high net worth individuals.
- Increased demand for specialized insurance products, such as those for flooding, due to the effects of climate change and the increased risk of natural disasters.
- Changes in insurance availability and pricing, particularly in areas that are most at risk from the effects of climate change, as insurers reassess their risk models and underwriting practices. This may lead to reduced insurance availability and increased costs for policyholders in certain areas.
More than ever, the quality of one’s insurer and insurance program should be top of mind for those with assets. Most quality high net worth brokers with access to the right markets have solutions and programs to address these emerging issues.