Filed Under:Agent Broker, E&S/Specialty Business

Carriers Say Sandy Provides an Ideal Teaching Moment for Illustrating the Value of High-Net-Worth Coverage

Storm could underscore to the wealthy the coverage and service advantages available from specialized insurers

The communities in the Northeast most gravely affected by Superstorm Sandy include some of the wealthiest towns in the nation: For practically every bungalow destroyed by the storm surge, a million-dollar beachfront mansion was also claimed.

Yet for all their means and money smarts, many of these well-to-do individuals were largely underinsured—and now they are paying the price, as they’re finding out the coverage they had won’t fully pay for all of the damages incurred.

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