Millionaire's paradise
A minority of individuals take up expensive hobbies such as sailing; buying expensive properties abroad or collecting works of art. These people need insurance too but it is a niche market and clients can be difficult to search out. However, Barbara Cockburn says all the effort is worth while
Before leaping into the high net worth (HNW) market, industry experts suggest brokers first look closer to home at their existing clients. This is because clients may actually be unaware they have become HNW and that there are a range of superior products available to protect their wealth from fraud, fire, burglary and other unfortunate circumstances.
Industry analyst Datamonitor defines HNW individuals as those with onshore liquid assets in excess of £200,000. Liquid assets, it says, include
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk