As the economy continues to show incremental signs of improvement, insurance executives say high-net-worth (HNW) clients are beginning to again open up their Fendi wallets and Prada purses to buy luxury assets that need special coverage.

And while the mink-coat crowd may have relied on their super-smarts to acquire their wealth, they often remain woefully ignorant of their unique insurance needs.

The upper class, in other words, is underserved when it comes to being properly informed about their risks—and so represent a great business opportunity to agents and brokers who can educate them.

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