Specialist insurer Ecclesiastical, in collaboration with Blackstone Consultancy, has launched new guidance to help brokers talk to their high net worth clients about the security risks they face. With rising inflation and the cost of living crisis, high net worth individuals are a prime target for criminals.
Last year some members of a gang of international thieves were successfully jailed after an estimated £26m of assets were stolen in a series of high profile robberies from celebs and HNW individuals. Stealing Rolex, Patek and other high value Swiss watches in street muggings is becoming so common that one watch retailing website is advising clients to shop in pairs, cover the watch up in public places and if threatened hand it over. As the government introduces more taxes in November’s Budget, plus mass migration and inflation continues to rise, expect more people to make the decision that crime does PAY, compared to working for a living.
The new guide from Ecclesiastical provides scenarios and risk guidance to help high net worth clients minimise the risk of being targeted by criminals.
From protecting valuable technology in home offices, to safely securing unoccupied second homes, Ecclesiastical is encouraging brokers to refer to the new guidance at www.ecclesiastical.com/target and speak to their private clients about how best to protect themselves and their households.
Sarah Willoughby, Art & Private Client Business Director at Ecclesiastical, said: “In a post pandemic world, the way we live our lives has changed. Now that we’re facing a cost of living crisis and on the brink of recession, those who have more to lose are becoming a greater target for criminals. Working with specialist security experts Blackstone Consultancy, our guide addresses new threats and identifies ways in which high net worth clients can mitigate the risks of targeted crime. We hope this new guidance will help brokers speak to their clients about how they can best protect themselves.”
Ecclesiastical recently launched a new enhanced high net worth home insurance product which includes cyber damage, cyber-crime and online liability cover as standard, and optional additional covers including business cover and travel insurance.
For more information visit www.ecclesiastical.com/artandprivateclient
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