HNW underinsurance an increasing concern for brokers

hnw

Research by Ecclesiastical has revealed that a growing number of brokers believe there is a problem with underinsurance in the high-net-worth market.

According to the insurer, brokers with this opinion has risen by five percentage points compared to 2022, reaching 77%.

The provider polled 119 brokers in March and April who place business with HNW clients. It found that 68% feel underinsurance (see Underinsurance box) is more of an issue for HNW clients than ever before.

A quarter of brokers believe that all HNW clients are underinsured, the survey detailed. Yet despite this, just 30% said their clients were concerned they may be

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