Survey Shows Wealthy Have Growing Concerns But Underestimate Danger of Multi-Million-Dollar Verdicts
If you have a growing concern that your wealth could make you a target for lawsuits, you are not alone. ACE conducted a survey of households with $5 million or more in investable assets and found that 82 percent of the respondents believe that their wealth makes them a target for liability lawsuits at least “to some degree.”
In this age of wealth disparity, your concerns are justified, according to defense attorneys for high net worth individuals also interviewed by ACE.
As an Assurex Global Partner, we wanted to share the following white paper with you to ensure you are informed about the types of lawsuits to which you, as a high net worth individual, may be subject and the amounts potentially at risk. Unfortunately, you are probably not covered for the large payouts prevalent in our litigious society. For example, a brain damage case today can be settled for as much as $15 million to $20 million.
Unfortunately, more than 40 percent of respondents to the ACE survey reported having less than $5 million in coverage, which, in our example, would require $10 million or more in personal payout.
Read more to take the first step in developing a comprehensive plan for protecting your wealth, reputation, and lifestyle.