In our experience we have seen that families with substantial wealth face unique risks and often times have a heightened exposure to lawsuits seeking judgments for real or imagined damages. As a result, families typically have insurance coverage to provide protection for autos, homes, boats, art, and jewelry. In most cases, they also carry supplemental umbrella personal liability insurance. Personal liability, or excess insurance policies, cover claims where the insured is determined to be legally responsible for in cases of personal injury and property damages to third parties that are above the limits of their underlying auto, homeowners or watercraft policies provide and that responds after these primary coverage limits are exceeded. Umbrella coverage is an essential part of your family’s insurance program in order to protect all of your family assets and future income from potential claims and lawsuits. While serious accidents are rare, they do happen, and judgments in excess of your coverage limits can impact your family’s lifestyle and legacy in a catastrophic way if you do not have adequate coverage. For the full whitepaper, please click here.