Best-in-class Insurance Brokers: A Checklist

Does your insurance broker:

  • Have a dedicated practice that is both significant and strategic for high wealth individuals? 
  • Meet with you annually (or more frequently, if desired)? 
  • Have a senior advisor and service team assigned to your account? 
    • Conduct a regular review of the following: 
    • Major financial changes including liquidity events and/or new wealth 
    • Changing life events; stages of each family member 
    • Newly-acquired valuables; sold valuables 
    • Current valuation for replacement costs of property, possessions, and valuables 
    • Liability limits adequacy 
    • Lifestyle, passions, social and philanthropic activities of family members 
    • Non-profit board membership 
    • Legal structure of tangible asset ownership 
    • Private services, staff changes and concerns 
    • Cyber, home and personal security  

A best-in-class insurance broker should: 

  • Propose changes to your program aligning with your family’s changing needs 
  • Periodically test the insurer marketplace for new coverage and pricing options 
  • Provide choices in your insurance and risk management program, including group options 
  • Be transparent with compensation received on your account 
  • Educate your family on trends, emerging exposures and solutions, risk avoidance/reduction methods 
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