Berkeley Alexander’s high net worth (HNW) service is led by director of private clients Dave Probert, who joins from Sterling where he was associate director and head of HNW affinity relationships.
“Dave has vast experience of the needs of brokers, independent financial advisers, and wealth managers delivering HNW insurance solutions for clients, as well as the evolving concerns of high net worth individuals as they strive to protect their assets and lifestyle,” said Geoff Hall, Berkeley Alexander’s business development chief.
Separately, Geo Private Clients has created an annual travel product for its wealthier clients, in a partnership with Millstream Underwriting (part of the Nexus Group).
The travel product is available as part of Geo’s household offering or as a standalone policy.
In addition to travel coverage, the Geo product grants stranded passengers access to a network of more than 800 airport lounges throughout the world; alerts on medical, political, security issues at destination; confidential medical screening services; a high holiday cancellation limit; kidnap and ransom; and staff abroad cover.
According to the High Net Worth Household Insurance 2018 report, published by Market Research Hub, household cover is one of the fastest growing areas of insurance.
Researchers predict global growth for the segment, led by Chubb and Hiscox, with continued year on year growth.