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Powerball Winner Keeps Promise to Split $22 Jackpot with Friend

Powerball Winner Keeps Promise to Split $22 Jackpot with Friend

A Wisconsin man who recently won $22 million playing the state’s Powerball lottery has followed through on a decades-old promise to split the jackpot with his friend. Thomas Cook and his friend fishing partner, Joseph Feeney, reportedly made a handshake agreement 28 years ago to split any lottery winnings if either of them ever hit the jackpot. Cook made good…

Ask the Expert Q&A: Private Client Insurance

Ask the Expert Q&A: Private Client Insurance

High-end homes, big-ticket items like jewelry and fine art, expensive collections and a higher risk of lawsuits make Private Client Insurance essential for affluent individuals. To learn more about the Private Client Insurance market and its particular risk profiles, Crain’s Content Studio sat down with Heather Posner, Associate Vice President, Director, Private Client, Burns & Wilcox, Cleveland, Ohio. What are…

Millions in Jewelry and Cash Stolen After Alleged Burglary Ring Stalks Social Media

Millions in Jewelry and Cash Stolen After Alleged Burglary Ring Stalks Social Media

Suspected members of a highly-organized burglary ring were arrested in Miami, Florida last month for allegedly using social media and other surveillance techniques to target homeowners in upscale neighborhoods and steal millions of dollars’ worth of jewelry and cash. On February 18, 10 suspects were charged with racketeering, conspiracy and burglary, putting an end to an alleged two-year crime spree…

‘Jeopardy!’ Champion’s $1.8 Million Winnings a Reminder to Safeguard Sudden Wealth

‘Jeopardy!’ Champion’s $1.8 Million Winnings a Reminder to Safeguard Sudden Wealth

On Monday, May 20, 34-year-old professional gambler James Holzhauer won $89,229 on his return to “Jeopardy!” following a two-week hiatus from regular play. He won another $86,905 on Tuesday, May 21 and set a series record for highest per-game winnings average: $77,798. Holzhauer is the biggest single-game cash winner – $131,127 – and second-biggest overall winner in the show’s 40-year…

60 Percent of Art Damage Claims Arise from Transport

60 Percent of Art Damage Claims Arise from Transport

According to the 2019 Art Basel and UBS Global Art Market Report, more artwork is fetching higher sale prices worldwide. Art sales at auctions, art fairs and online reached $67.4 billion in 2018, up 6 percent from the previous year. With the network of dealers and collectors spread across the globe, more art winds up in transit—where matters can become…

Truck Driver’s $298.3 Million Powerball Jackpot Leads to Newfound Wealth, Risk

Truck Driver’s $298.3 Million Powerball Jackpot Leads to Newfound Wealth, Risk

Truck driver David Johnson confirmed last week he is the sole winner of the December 26 New York Powerball drawing. The 56-year-old, who emigrated from Jamaica when he was 16, quit his job at Iberia Foods and plans to live on the estimated $114 million he will collect after taxes. Johnson’s plans also include buying a new family home in…

How to Protect a James Bond-Style Ride

How to Protect a James Bond-Style Ride

Aston Martin recently announced it would make 25 continuation versions of the DB5 that appeared in the 1964 James Bond film “Goldfinger.” They will be priced at $3.1 million each with deliveries beginning in 2020. Porsche’s Project Gold 993 recently sold for $3.1 million at auction, making it the most expensive 993 Turbo ever. These vehicles and other collectible cars…

Ask the Expert: High-Net-Worth Insurance

Ask the Expert: High-Net-Worth Insurance

Insurance Market Source regularly taps into its network of experts for insight into key trends and developments across the insurance landscape. Bill Gatewood, Corporate Vice President and Director, Personal Insurance at Burns & Wilcox, breaks down the ins and outs of high-net-worth insurance. Q: What do high-net-worth insurance policies cover? A: High-net-worth insurance policies provide specialized coverage for affluent families and…

Insurance for Family Offices

Insurance for Family Offices

We’re tapping into our experts across the company to provide their insights on products, policies and markets. Patricia LeBon, Personal Insurance Manager at Burns & Wilcox, breaks down the ins and outs of insurance for Family Offices. Q. How would you describe insurance for Family Offices? Insurance coverage for a Family Office does not have universal attributes. Family Offices are…

Canadian Snowbirds Take Flight

Canadian Snowbirds Take Flight

One of the less controversial elements of the U.S. immigration bill recently passed by the Senate and being debated by the House of Representatives is a provision increasing the length of time foreign property owners can spend in the country. If the bill passes into law, foreign property owners – including Canadian snowbirds - will be able to spend up…

Walk the Line

Walk the Line

Working with angles to write and retain cross-border high net worth accounts About 80 percent of Canadians live within 100 miles of the United States border. That proximity, coupled with a strong Canadian dollar and a slow-recovering U.S. real estate market, has created opportunity for growth in the high-net-worth market. “More and more frequently, the ‘snow birds’ — retired Canadians…

Big Fish: Four Boats, Three Ownership Entities, Three Docking Locations

Big Fish: Four Boats, Three Ownership Entities, Three Docking Locations

In the high-net-worth stratosphere, owning four autos is not unusual. What is unusual is owning four different types of boats under three different ownership entities (personal, corporate and LLC), docking them in three locations (Florida, Montana and the Bahamas) and flagging them in two different countries (U.S. and the Cayman Islands). In this case, the agent placed the client’s business,…

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