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Private Client

In nine of Canada's cities, more than 50% of active home listings exceed $1 million

A painting recently sold at an auction in Toronto for a record-breaking $9.5 million, making it the most expensive Canadian piece ever sold. With Canadians’ wealth recently growing to the highest levels on record, more people are investing in high-ticket items and collections.

One primary contributing factor to the expanding affluent population is the booming housing market. In fact, in nine of Canada’s cities, more than 50 percent of active home listings exceed $1 million. As wealth continues to flourish on a national level, there is an increased demand for coverage that extends beyond the standard market.

Private Client Coverage can help you ensure your clients have the right level of protection for their dwellings and high-value possessions and collections.


High-Value Homeowners

Over 121,000 Toronto homeowners own multiple homes in the city. Additionally, in nine of Canada’s cities, more than 50 percent of active home listings exceed $1 million.

As the housing market continues to grow stronger, more homes are falling into the high-value range demonstrating an increased need for specialized coverage.

High-Value Homeowners Insurance extends beyond the standard market to ensure your clients have the correct level of protection.


Recreational Marine

Watercraft Coverage through Burns & Wilcox

Providing coverage to mitigate costly repairs and liability exposures

Once the weekend comes, Canadians all over the country make their way to the closest body of water for fun and recreation. When navigating a boat or personal watercraft, your clients need to know they have the right insurance coverage. We have the coverages your clients need to keep them afloat.

Burns & Wilcox can provide access to Watercraft Coverage for recreational vessels to help with the costly repercussions of an accident. Coupled with our fast submission response time and low minimum premiums, Burns & Wilcox is one of the leading providers for excess and specialty insurance.

Personal Articles Floater

A prized comic book recently sold at an auction for a record-shattering $3.2 million. In another auction, a rare baseball card recently drew a winning bid of $609,294. High-end collectibles have appreciated immensely in recent years. Consequently, connoisseurs are looking beyond the usual big-ticket items such as art and jewelry and purchasing collectibles such as sports memorabilia, comics and musical instruments purely for investment purposes.

However, standard homeowners policies often leave these possessions unprotected. Personal Articles Floater policies can be tailored to the level of protection your clients require, safeguarding their cherished items in the event of damage or theft.


Comprehensive Personal Liability

Generally, a comprehensive homeowners policy includes coverage for the home, content and liability exposures. However, there are times when a homeowner’s liability exposures become too great compared to the standard market appetite. This may occur due to the type of property owned, if the homeowner has incurred losses previously, or if other exposures make it difficult to secure liability coverage as part of their homeowners package.

Burns & Wilcox can provide access to Comprehensive Personal Liability (CPL) Coverage; a standalone liability coverage for a variety of risks. Sold in conjunction with a comprehensive homeowners policy, CPL provides coverage for personal liability exposures.

Personal Umbrella

There are 22.7 million social network users in Canada, and in 2022 that number is projected to reach 24.1 million. As social media continues to grow across all age groups, protection against libel and slander is becoming more of a necessity. A Personal Umbrella policy can cover this exposure as well as liability claims stemming from physical injuries.

Every year, motor vehicle collisions in Canada cause 164,668 injuries while ATV and snowmobile-related accidents result in 20,671 emergency room visits. If your clients are found negligent, injuries like these can easily exhaust the liability limits of standard auto and homeowners policies. In fact, unintentional injuries in Canada result in $15.9 billion in direct health care costs each year.

Burns & Wilcox can provide access to Personal Umbrella Coverage that can supplement your clients’ current policies to limit their exposure to crippling financial losses in the event of a liability claim or lawsuit.


Equine Mortality

Whether owned for pleasure or professional use, a horse is a valuable asset which requires considerable investment and care. Protection of this asset, however, can be costly and can involve more than just feeding, housing and medical attention. Should the horse cause property damage or injury, the horse owner is responsible and can be held liable for monetary compensation. Additionally, if the horse has been injured, becomes sick or dies, unexpected medical expenses may be incurred.

Equine Mortality Coverage through Burns & Wilcox provides mortality, illness or disease coverage, reimbursement of costs resulting from accidents, third party liability coverage and more. As a leading provider of wholesale insurance, the experienced professionals at Burns & Wilcox can deliver insurance solutions to help your clients protect their investment.


Kidnap and Ransom

During kidnap-for-ransom instances, the average ransom demand is $1.15 million and the average settlement is $355,000. Coverage for these situations has become as crucial as ever with the threat of kidnapping and extortion dramatically increasing, not only abroad, but also at home.

Types of incidents include: traditional kidnap-for-ransom or extortions; detentions; evacuations; missing persons; and threats to people, property or business information. Whether it is families on vacation, companies with employees traveling or based overseas, or even a domestic threat, these emotional, financial and devastating threats are all too real.

Kidnap and Ransom policies have the potential to save a life and subsequently prevent further financial or emotional trauma to a family and employer.


Rentals and Secondary Homes

Eighty-nine percent of newly purchased vacation homes are expected to be rented out within their first year. The recent surge in the online marketplace for short-term rentals has introduced new and unfamiliar risks for a large number of individuals. In fact, the number of Airbnb hosts in Canada recently doubled over a two-year period to 70,288.

Many clients may not know that their homeowners policy is unlikely to protect against losses involving renters. This can leave them exposed to costs stemming from renter injuries and property damage. With the rental market only expected to continue growing, ensure your clients have proper protection.

Rentals and Secondary Homes Coverage is designed to protect your clients from short-term or long-term rental exposures.

Farm and Ranch

Operating a farm or ranch takes a lot of work to be successful. With land, complex machinery and equipment on-site, modern agribusinesses have significant operating budgets and it is important to obtain adequate coverage against potential losses.

Farm and Ranch Coverage through Burns & Wilcox provides access to experts who can assist agribusinesses with the selection of insurance coverage for their activities and businesses.

In-Home Business

More than 50 percent of businesses operate primarily from the home. These home-based businesses are subject to a variety of different risks. Merchandise can become damaged, lost or stolen, and customers can become injured while using products, leaving the business responsible. With so much at stake, it is important for those who operate in-home businesses to have the right coverage to protect them against financial strain.

Burns & Wilcox, a leading provider of wholesale insurance, can connect you to In-Home Business Coverage. We can provide unique coverage tailored to the needs of each of your clients to protect them from financial damages resulting from the risks associated with operating their businesses.


Family Office

How confident are you in your Family Office coverage? Many basic coverages do not offer the specialized protection you need to cover your assets.

Coverage Details and Features

  • Yacht Coverage
  • Primary and Excess Flood Coverage
  • International Homes
  • Condominium Unit Coverage
  • Vacant Dwelling
  • Primary and Excess Wind
  • Earthquake Coverage
  • Course of Construction

Target Classes

(including but not limited to)

  • Single family dwellings
  • Condos
  • Duplexes
  • Cottages/Seasonal and secondary homes
  • Tenant occupied dwellings
  • coastal areas, and earthquake zones


Burns and Wilcox Videos

Keeping Your Wealthy Clients Wealthy

There once was a time when millionaires were few and far between. Not anymore. Today, 9.63 million U.S. households have a net worth of one million dollars or more, yet many of these people still see themselves as middle class...

1min 51sec

Ask an Expert

What do high-net-worth insurance policies cover?
High-net-worth insurance policies provide specialized coverage for affluent families and individuals with homes valued at $1 million or above, or with a net worth exceeding $5 million. The policies can be uniquely tailored to the client’s needs, and can include a number of customized options such as equine mortality, kidnap and ransom, personal articles floater, excess flood and high limits of personal liability.
Why should a client choose a high-net-worth coverage?
Beyond the added layer of protection, high-net-worth policies provide access to an array of subject matter experts and ‘white glove’ type services. For example, a client seeking a personal articles floater for a cherished family painting or rare foreign automobile will have access to and assistance from an art curator or collector car specialist to ensure that accurate values are established, sufficient protection is in place and proper coverage is offered. Additionally, high-net-worth carriers have the expertise to offer additional services such as personal cyber threat assessments, background checks on domestic help such as drivers and nannies, hurricane evacuation assistance and wildfire protection. High-net-worth policies also allow the insured to maintain their lifestyle in the event of a catastrophe, be it a natural disaster that destroys their home or a debilitating illness that strikes the family during a trip abroad. Under this coverage, families can be relocated to a place of comfort that mirrors their way of life as their home is rebuilt or while they travel.
What should retail brokers and agents consider when working with high-net-worth clients?
Many high-net-worth individuals are underinsured by a standard market policy because they are unaware of the features and benefits of high-net-worth coverage. Retail brokers and agents should view themselves as full-service risk managers and counsel their clients accordingly. While premiums are higher for these specialty policies, when brokers and agents compare the coverages and services available through the affluent insurers, most clients will see the value of insuring their family assets with a high-net-worth carrier.

At Burns & Wilcox our expertise becomes your expertise. Our marketing materials are designed to help you give your clients what they want to hear – yes to almost any hard-to-place-risk.

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