In addition to writing this column on a quarterly basis, I'm an avid reader of American Agent & Broker magazine. While keeping me abreast of industry trends and developments, it often provides me with ideas for future columns.
In its April issue, AA&B reported results from a recent survey of 168 households with more than $5 million of investable assets, conducted by ACE Private Risk Services (see Industry IQ article “Wealthy Fear Liability Lawsuits,” April 2012). According to the survey, more than 80 percent of the respondents fear their wealth makes them a target for liability lawsuits. Nearly two-thirds of the respondents said they believe public perceptions of the wealthy have grown more negative over the past 4 years.
These survey findings were not all that surprising. If anything, with the relative popularity of the Occupy movement over the past year, I'd wager that if those same households were polled again right now, the numbers would likely be higher. What was surprising—shocking, even—is that in ACE's estimation, only half of those wealthy families had adequate liability insurance and 21 percent reported having no liability insurance at all.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
