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High net worth individuals (HNWIs) are confronting rising insurance expenses as they pursue lifestyles in vulnerable areas like coastal regions and remote mountains amid climate uncertainties. Katherine Frattarola of HUB Private Client emphasizes the need for tailored risk management strategies in response to increased property damage from hurricanes, wildfires, and other natural disasters. Insurify forecasts a 6% rise in US insurance premiums for 2024, with states like Florida facing higher increases due to their exposure to severe weather. As HNWIs reassess their insurance needs, options like self-insurance and non-admitted markets offer alternatives amidst evolving risk landscapes.