The world is changing, and with it, the very nature of risk. For wealthy individuals and family offices who have built legacies of success, protecting physical assets, from cherished homes to irreplaceable collections, has always been a cornerstone of wealth preservation. Yet, an increasingly unpredictable force now demands our attention: climate change and its escalating impact in the form of extreme weather events.
The Chubb 2025 Wealth Report paints a clear picture of this heightened concern, revealing that "Climate change remains a major worry for 91% who are concerned about how it will affect their property." Furthermore, a significant 75% of respondents are anxious "about the impact of more frequent extreme weather events – particularly flooding and wildfires." These aren't just abstract fears; they reflect a tangible threat to homes, properties and peace of mind across North America.
Proactive resilience: A new standard for property protection
What's heartening is the proactive mindset affluent homeowners are adopting. The report notes that individuals are keenly "investing in upgrades to their properties to help protect against storms, floods and fires." This commitment to resilience is evident in their desire to take strategic approaches, with 86% favoring property improvements to mitigate extreme weather effects and 83% opting for increased insurance coverage for risks they can't control.
These strategic improvements aren't just about weathering a storm; they're about future-proofing one's legacy. Recommendations range from selecting fire-resistant roofing and impact-resistant windows to ensure proper landscaping for water runoff and installing whole-home generators. As highlighted in the report, "When we talk about resilient construction, it often comes down to the fundamentals: the foundation and the roof. Those are the most important elements when it comes to withstanding extreme weather.” Investing in these areas not only enhances safety but can also improve insurability.
Your partner in climate-resilient wealth preservation
At Willis, a WTW business, we understand that protecting your property portfolio in the face of climate volatility requires specialized expertise and foresight. We don’t just provide insurance; we partner with you to build a comprehensive defense strategy.
Our approach goes beyond basic coverage:
- Expert risk assessment: We help you understand the specific climate risks your properties are exposed to and proactively identify opportunities for mitigation and enhanced resilience
- Tailored solutions for resilient construction: Drawing on industry insights, we offer guidance on how investing in resilient construction materials and practices can safeguard your assets and influence your insurance profile. We encourage discussions "with your carrier, in those early stages, on the benefits of selecting more resilient materials”
- Comprehensive coverage and claims excellence: We ensure your insurance coverage is robust and specifically designed for high-value properties susceptible to severe weather events. Critically, when adversity strikes, affluent families seek “superior claims-handling capabilities (91%) and service (83%) in an insurer.” That's why we connect you with insurers who deliver this level of service and support you throughout the claims process—we're there for you when you need us most. We believe in providing choices, even advocating for the option of a cash payout instead of rebuilding after a total loss, a flexibility that premium carriers can provide
In a world where environmental challenges are intensifying, securing your physical legacy requires more than a standard policy. It demands a strategic partnership. We're here to help you turn risk awareness into a decisive advantage, ensuring your assets, and your peace of mind, endure for generations to come.
Disclaimer
WTW hopes you found the general information provided here informative and helpful. The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal advisors. In the event you would like more information regarding your insurance coverage, please do not hesitate to reach out to us. In North America, WTW offers insurance products through licensed entities, including Willis Towers Watson Northeast, Inc. (in the United States) and Willis Canada Inc. (in Canada).
