The Necessity of Private Client Services in Pennsylvania

While everyone faces risk, some people face more than others. High-net worth individuals may face uncommon exposures that require specialized insurance to help guard against. Simply by virtue of having wealth, many individuals and families face threats that can be mitigated by private client services in Pennsylvania.

 

Tangible Losses

 

Many members of the upper class have significant assets, both financial and tangible. These may include large homes, jewelry, art, vacation properties, yachts, collector cars, or private airplanes. Often typical insurance programs will fail to provide sufficient coverage for these items or even fail to cover them entirely, leaving the individual vulnerable to significant loss in the event of theft, damage, or loss.

 

Personal Problems

 

Other potential threats involve personal troubles. Simply by virtue of their wealth, some individuals may find themselves with high public profiles. This leaves them more open to liability claims by friends, family, employees, or even complete strangers, who may assume that their target can easily afford a lawsuit. However, even if the case is decided in favor of the private client, lawyers’ fees can be high. In addition, those with high net worth may also be at increased risk for extortion or kidnapping.

 

Unfortunately, those with significant assets may also find that they have quite a bit to lose. Private client services in Pennsylvania are an absolute must for any person or family with large amounts of wealth.

This post was written by , posted on July 18, 2014 Friday at 4:30 pm

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