Underwriting challenges of the hazardous pursuits of HNW and UHNW individuals

"It is important that advisers can approach the whole market"

clock • 4 min read

Jacob Fay, protection specialist at John Lamb Hill Oldridge, reviews some of the underwriting challenges that come with securing cover for high-net work (HNW) and ultra high-net worth (UHNW) clients that engage in high-risk pastimes.

Hazardous pursuits encompass a broad range of high-intensity activities that often involve elements of speed, height, and exposure to challenging environments, many of which are common among HNW and UHNW individuals. Some prominent examples include mountaineering, diving, private aviation, and heli-skiing, all of which carry their own unique set of risks and can present underwriting challenges that may have a profound impact on premiums. Subsequently, financial advisers need to comprehend the nuances when helping clients place life cover. One of the primary challenges in assisting ...

To continue reading this article...

Join Cover

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Underwriting

What I have learnt from 40 years in protection

What I have learnt from 40 years in protection

'Google really is the underwriter's best friend'

Steve Hosking
clock 06 December 2023 • 4 min read
Alan Knowles, managing director of Cura Financial Services and board member of the Protection Distributors Group (PDG)

PDG's underwriting challenges: What we would like to see on mental health questions

Achieving better consumer outcomes

Alan Knowles
clock 23 November 2023 • 3 min read
Spotlight: Atrial Fibrillation

Spotlight: Atrial Fibrillation

"AF is a reasonably frequent disclosure on life assurance applications"

John Downes
clock 13 October 2023 • 4 min read