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.

Agents and brokers have long been aware that the high-net-worth (HNW) demographic remains largely underserved by the insurance industry. Up to 60 percent of individuals who would qualify for a policy with an HNW insurance carrier remain with a standard insurer.

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