Upping the stakes.

Once known for its low rates, the high net worth sector has recently seen a rapid shift towards higher premiums and tighter underwriting terms for the insureds that present the biggest risks, says Andrew Newman.

There is little consistency in the upward trend of premiums in the
high net worth contents sector. Rates are said to be rising, and increases
of 20% have been noted in some individual cases, but there are few, if
any, across-the-board rises. However, there is a shift towards a harder
stance on underwriting. Renewal terms are being applied where necessary,
and some additional cover, once automatic, is now being made optional.


John Simms of Chubb Insurance confirms that rates are increasing. "They
ne