The 2025 Private Client State of the Market Report examines the ever-changing high-net-worth personal insurance market and the need for creative solutions to manage the risk of unique and complex asset accounts. With a forward on the recent California Wildfires — which put added pressure on an already difficult market challenging the industry to adapt — the information speaks to timely and developing issues. The report offers comprehensive insights and guidance on the forces at play in the high-net-worth insurance market, as well as a summary of considerations as we look toward the future.
Critical topics explored in the report include:
- The recent California wildfires: Addressing the impact of the wildfires on an already stressed market, the challenges of the California Fair Plan and lessons learned.
- Impact of climate change and weather events: Examining the most vulnerable locations and how these factors are shaping risk management strategies.
- Effects of reinsurance on the private client space: Exploring the implications of reinsurance trends on our offerings and pricing.
- Trend toward excess and surplus lines solutions: Emphasizing the growing importance of these solutions in managing complex risks and the increased expense of this coverage.
- Liability and umbrella insurance trends: The evolving landscape of social inflation and consequential nuclear verdicts is increasingly affecting our clients, necessitating enhanced levels of excess and umbrella coverage. Recent high-profile verdicts within the high-net-worth sector exemplify this shift, underscoring the importance of robust protection strategies.
- Lifestyle categories: Providing insights into insurance considerations for automobiles, collector cars, valuables collections, private aviation, yachts, travel, cyber and security.