WARREN, NJ, November 20, 2015-Many Americans aged 34 to 50 lose track of their financial risks as they pursue careers, raise families and accumulate wealth, according to a new white paper from Chubb Personal Insurance. In addition, many neglect to secure sufficient insurance coverage as their wealth increases.

The white paper, 'A Lost Generation? Wealth Accumulators Are an Overlooked Opportunity for Advisors,' describes various personal property and liability exposures faced by the approximately 60 million Americans born between 1965 and 1981. It also recommends that wealth advisors work with specialist insurers, agents and brokers to help provide high-net-worth individuals in this age group with effective risk management strategies and insurance coverages.

'Clearly, there is a great opportunity for wealth advisors to work with this age group,' said Stacey Silipo, director of strategic partnerships at Chubb Personal Insurance. 'However, to be successful, advisors will need to better understand these prospective clients and then be in a position to help them minimize all the major risks to achieving their financial goals.'

According to the white paper, many people in their mid-30s to late 40s share the same risk characteristics as younger adults, but often at a substantially greater exposure level. Noteworthy examples include:

  • They are more likely to acquire secondary or vacation homes in locations subject to fires, flood, storms or other adverse conditions.
  • They are better able to afford art, jewelry and other valuable possessions, exposing themselves to greater potential for theft and other property loss.
  • Children can expose them to vicarious liability-and potential financial ruin-through auto and home-related accidents and social media activities.

'It all happens so fast. One day you've just graduated law school and you're in debt and renting a hole-in-the-wall studio apartment. The next day you're buying a second home, art and a classic car, and then your kids are leaving the nest for college,' said Silipo. 'It's so easy to lose track of time and to lose track of your risks. An advisor can help put you back on track.'

'A Lost Generation? Wealth Accumulators Are an Overlooked Opportunity for Advisors' is available at:http://www.chubb.com/journalists/chubb21039.pdf .

About Chubb

Since 1882, members of the Chubb Group of Insurance Companies have provided property and casualty insurance products to customers around the globe. These products are offered through a worldwide network of independent agents and brokers. The Chubb Group of Insurance Companies is known for financial strength, underwriting and loss-control expertise, tailoring products for the needs of high-net-worth individuals and commercial customers in niche markets and select industry segments, and outstanding claim service.

The Chubb Group of Insurance Companies is the marketing term used to describe several separately incorporated insurance companies under the common ownership of The Chubb Corporation. The Chubb Corporation is listed on the New York Stock Exchange (NYSE: CB) and, together with its subsidiaries, employs approximately 10,000 people throughout North America, Europe, Latin America, Asia and Australia. For more information regarding The Chubb Corporation, including a listing of the insurers in the Chubb Group of Insurance Companies, visit www.chubb.com.

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