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America’s wealthiest households are confronting rapidly escalating cyber threats, yet many remain significantly underinsured and lack adequate family and personal cyber insurance, according to new findings from the 2025 PRMA Private Client Insurance Insights Survey. The full survey results reveal a widening disconnect between rising digital risks and the protection strategies high-net-worth (HNW) families have in place.
The survey, conducted by the Private Risk Management Association (PRMA), polled 250 U.S. homeowners with more than $5 million in investable assets. It found that 28 percent of respondents have experienced a cyber incident such as identity theft, account takeover, or financial fraud. But, as we’ve reported in the past, adoption of personal cyber insurance is not keeping up with the threat.
The PRMA survey indicates that younger wealthy clients are roughly twice as likely as Baby Boomers to purchase standalone cyber insurance. Older generations often rely on traditional homeowners or umbrella policies that usually exclude key cyber exposures, including wire-transfer fraud, social-engineering losses, and deepfake-driven impersonation attacks. This generational split has emerged as a major factor in determining how resilient affluent families are to modern digital threats.
Worries About Insurance Exclusions
Another critical finding is a growing confidence gap around insurance language (for all sorts of policies). Although 95 percent of affluent respondents say they feel confident in their overall insurance programs (not focused specifically on cyber), 65 percent express concern about exclusions buried within policy fine print, especially involving personal cyber insurance coverage. Issues such as ambiguous wording around social-engineering schemes, exclusions for prior cyber incidents, insufficient ransomware limits, and potential gaps involving family staff or household employees are frequent sources of anxiety. More information about PRMA’s work and education efforts is available at https://www.privateriskmanagement.org/.
Industry research supports PRMA’s warning. A detailed 2025 cyber-risk report for private clients by Risk Strategies, shows that high-net-worth families face disproportionately high targeting rates because they combine corporate-scale wealth with inconsistent cybersecurity practices. The report cites data indicating that nearly 30 percent of ultra-high-net-worth families have already suffered a cyberattack.
Personal cyber insurance offerings for wealthy households have evolved significantly. Today’s policies extend far beyond identity-theft reimbursement, providing coverage for fraudulent bank transfers, ransomware and extortion response, digital-asset recovery, device and account restoration, crisis-communications and reputation management and smart-home or network-security support. For affluent families with multiple residences, travel patterns, family-office communications, and high-value online accounts, these protections are increasingly indispensable.
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Want to Protect Your Wealth? Get Personal Cyber Insurance
Once upon a time, asking, “Do I need personal ransomware cyber insurance?” would have been greeted with smirks. But that is no longer the reality, the 2025 PRMA findings make it clear that although cyber awareness among wealthy families is rising, action has not kept pace. As deepfake scams, generative-AI impersonation attacks, smart-home intrusions, and sophisticated wire-fraud attempts accelerate, affluent families must integrate cyber resilience into their wealth-protection strategies. Advisors recommend annual cyber-risk assessments, upgraded digital hygiene, clearer coverage reviews and the adoption of standalone personal cyber insurance tailored for high-value households.
For HNW families, the message is direct: cyber threats are now central to wealth preservation. Those who modernize their protections today will be far better positioned to defend their assets, privacy and legacy in an increasingly digital world.
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