Understanding High Net Worth Umbrella Insurance: Protecting Wealth
Understanding High Net Worth Umbrella Insurance: Protecting Wealth HNWI being in modern society are exposed to risks and liabilities quite different from the ones risking their money in other forms of investment. Cessation of significant assets is impossible by only insuring the property. The umbrella insurance policy specifically targets people with high earning capacity to ensure that their large earnings are well protected in case of litigation. This all-encompassing coverage gives additional protection, ensuring that an individual’s money is safeguarded in times when an individual may stumble and create a financial calamity. In this article, the author aims to describe the concept of high net-worth umbrella insurance, briefly discuss how it may be useful, and why such insurance should be particularly interesting to wealthy people. What is High Net Worth Umbrella Insurance? High net worth umbrella insurance is excess liability insurance which is used as an augmentation beyond homeow...
