Safety and Security Evolving threats at home, away and online. The HUB International 2025 Outlook High-Net-Worth Case Study Survey revealed that afÒuent families feel an increasing A professional sports team experienced an sense of vulnerability. One-quarter of respondents said ofÏce data breach, and one of the executives theft and accidents had a “high” or “very high” impact on their wealth, a 40% increase over the prior year. Nearly a leveraged their relationship with HUB’s Private third also cited cybercrime as having a negative impact. It Client Risk Advisors to step in to mitigate the is less clear whether those perceptions are in sync with the damage. As a result of HUB’s deep expertise nature and magnitude of most likely threats. in handling sensitive cyber events, the busi- Home burglaries in the United States trended down 3.8% ness was able to quickly resolve the issue, from 2023 through 2024, though remained at a high level: minimize impact and enhance safety proto- 2.5 million burglaries leading to an estimated loss of $3.4 cols to prevent repeat events. 3 billion. Of course, the threats to any given family are highly localized, and afÒuent families are well advised to have a thorough security review conducted. A steady rise in international travel is creating an percent of HNW respondents to the HUB survey feel they increasing level of risk for afÒuent families. Illnesses and have adequate liability coverage, yet a significant number accidents are the leading cause of losses, particularly of afÒuent families do not have umbrella liability coverage in regions with less developed medical infrastructure.4 that covers their net worth, making it essential to review Insurance that covers rescue and medical evacuation costs policies and limits with their risk advisor annually. is highly recommended for the more adventurous, as costs for those services can run as high as $100,000.5 3. Securiteam, “US Burglary Statistics 2024,” April 23, 2024. Cybercrime has become the leading criminal threat to the 4. Novo-monde, “The risks of traveling and how to prevent them,” assets of high-net-worth families. Global cybercrime is April 10, 2024. projected to reach $10.5 trillion by 2025, and ultra-high- 5. Global Rescue, Trip Evacuation Travel Insurance, accessed 6 November 12, 2024. net-worth families and family ofÏces are prime targets. 6. Statista, “Estimated cost of cybercrime worldwide 2018-2029,” In fact, 79% of North American families report that the July 30, 2024. threat of cyberattacks has “increased dramatically in the 7. CNBC, “Family ofÏces become prime targets for cyber hacks and past few years.”7 In addition to professional cybersecurity ransomware,” May 21, 2024. reviews, afÒuent families should consult their risk advisors 8. Swiss Re, “Litigation costs drive US liability claims by 57% over past decade, reveals Swiss Re Institute,” September 7, 2024. to determine if cyber insurance policies are warranted. Social inflation is driving liability claims far faster than can be explained by economic factors, contributing to a 57% 8 rise in U.S. settlements over the past 10 years. Fifty-three 5