HNW Insured’s Represent An Insurance Industry Disruptor

For insurance agents, the premiums generated by High Net Worth (HNW) Insureds makes them one of the most desired classes of business to write. From Commercial and personal lines, to life and health, HNW insureds allow agents to round out accounts like no other class of business.

For the Standard P&C insurance industry, HNW insureds represent a disruptor class of business because insurance carriers have categorized HNW insureds as either a commercial or personal lines account. The fact is, HNW insureds are a crossover class of business with both commercial and personal lines coverage needs.

The insurance industries failure to recognize the crossover needs of HNW insureds makes them a disruptor class of business but more importantly, it means coverage gaps have been created. Maybe none more so than the pollution exposures impacting HNW insureds.

Simply due to their resources (commercial & private real estate, yachts, aircraft, commercial businesses, farm / ranch, golf courses…) HNW insureds are impacted by a wealth of environmental exposures.
The solution from environmental industry pioneer, Environmental Risk Managers Inc. (ERMI), HNW Pollution Liability Insurance program. The ERMI HNW pollution program is designed to fill in the coverage gaps in standard P&C insurance products that contain Limited Pollution or Absolute / Total Pollution exclusions.

The ERMI HNW pollution insurance program is an industry disruptor that will push P&C carriers to rethink how to properly insure a HNW insured. For insurance professionals, you currently have to bundle together the commercial and personal lines coverage’s a HNW insured has available while you wait for insurance carriers to deliver products that truly meet a HNW insureds actual risk transfer needs.

For retail insurance agencies, the ERMI HNW pollution program will guide you on merging together your commercial and personal lines teams to drive sales in rounding out your HNW insured’s crossover insurance needs. The ERMI HNW pollution program positions you as a strategic partner, trusted advisor and team member with your HNW insureds.

Another ERMI HNW pollution program benefit, it better protects insurance agents E&O exposure. If insurance agents are not talking to their HNW insureds about their environmental exposures, the only coverage a HNW insured may have when they experience an environmental liability is the agents E&O insurance.

The attached HNW playbook will coach agents and their HNW insureds so they can make an informed decision if investing in a ERMI HNW pollution insurance policy will add value in protecting their resources versus self-insuring.

ERMI HNW Pollution Program Cross Selling Benefit: Most insurance agents leave money on the table simply due to the fact they are not environmentally educated on the exposures impacting their HNW insureds. ERMI is the industry pioneer in environmental education to drive the sales of insurance products. The ERMI patent pending, HNW Pollution Program protects insureds for both their personal and commercial lines exposures. ERMI HNW pollution program is a unique cross selling opportunity on a single policy. Bottom line, the ERMI HNW Pollution Insurance Program allows you to cross sell between personal, commercial, life, health… to drive the sales of all the insurance products your agency offers.

Once you have environmentally educated your HNW insured, they simply need to answer one question regarding self-insuring or transferring their environmental exposures via the ERMI HNW pollution insurance program. Question: Based upon your risk appetite / tolerance, does it make fiscal sense to transfer your environmental liabilities for fractions of a cent on the dollar via the ERMI HNW pollution insurance program or wait until an environmental liability occurs and spend 100 cents on the dollar out of your own pocket for legal fees, third party bodily injury, third party property damage, third party business income, cleanup costs, emergency response, investigation, disposal costs, claims management…?”

Download the HNW Insured Application

For more information on protecting HNW insured’s from environmental liabilities, contact Chris Bunbury of Environmental Risk Managers. Phone 231-218-1041, email: