Chicago, IL (PRWEB) May 22, 2014
Many affluent individuals and their families tend to underestimate their liability risks – and the level of damages that may occur if not adequately protected via liability insurance, according to a new white paper issued by Chicago-based Parr Insurance Brokerage.
Titled “Inadequate Liability Insurance May Prove Costly for Wealthy Families,” the white paper, authored by Melissa Neis, vice president at Parr Insurance Brokerage, explores how high net worth families should assess their risk factors to avoid costly liability situations and protect financial assets and future earnings.
The white paper covers several liability insurance issues including risk factors that are often overlooked, the amount of damages awarded in lawsuits, and typical insurance costs for plans that provide adequate coverage for high net worth families.
Another area emphasized is how to create a strategic, long term plan that addresses the various liability risk factors, incorporates existing policies and ensures minimal risk is achieved.
The white paper is available for free online on the Parr website.
For more information on insurance for high net worth individuals and families, visit http://www.parrinsurancebrokerage.com or contact Melissa Neis at 773.489.3001 or Melissa (at) parrinsurancebrokerage (dot) com.
Chicago-based Parr Insurance Brokerage is an independent insurance agency founded to protect high-net-worth individuals and families nationwide with customized insurance coverage for fine homes and possessions.