High Net Worth Mens Wardrobes Amount to a Third of Home Contents Value

Aon sponsors ‘A View of Gentleman’s Tailoring’ exhibition

LONDON, 25 February 2008 – City traders, footballers and other high net worth men are spending increasing amounts on their wardrobes, which are representing as much as a third of their home contents value, according to specialist insurance broker Aon Private Clients. Sponsoring the ‘Bespoke and Bejewelled: A View of Gentleman’s Tailoring’ exhibition at the British Antique Dealers’ Association 2008 fair from 5 to 11 March, Aon is advising men to protect their clothes both against short term risks and for long term investment for designer or one-off items.

The famous chalk stripe flannel suit that Sir Winston Churchill wore in a photograph that epitomised the bulldog spirit of Second World War Britain is to be recreated by Saville Row tailors Henry Poole & Co as one of the highlights at the fair celebrating men’s tailoring. The exhibition, at the Duke of York Square in Chelsea, will also include a display of a collection of 280 tiepins from a private collection, which has not previously been seen in public.

Richard Evans of Aon Private Clients, says: “This exhibition echoes men’s increasing interest and spending on clothing and grooming – some are even investing more on suits than their wives are on designer dresses. We are always advising clients that everyday clothing should be included in the General Contents section of a household policy. It is not all unusual to see a sum insured for clothing represent £100,000 of a total sum insured for General Contents of £250,000. More historic or collectible clothing should be insured under the fine art section of a specialist household policy.”

Jonathan Jacobs, senior claims manager for Aon Private Clients, added: “High net worth individuals need to adopt the same approach in protecting their valuable clothes as they would with their fine art. For example, by placing suits in a cover to protect them from gnawing moths, damp and dust. This will also bide well by the underwriters by proving that you are taking reasonable measures to look after your assets. From a personal security point of view, a slick wardrobe may attract thieves so try not to keep all your credit cards and cash in one place and ensure that watches and other accessories are covered under your policy. Finally, remember keep all receipts to help resolve your claim as smoothly as possible.”

About Aon

Aon Corporation (NYSE: AOC), ranked by A.M. Best as the number one global insurance brokerage based on brokerage revenues and voted best insurance intermediary, best reinsurance intermediary and best employee benefits consulting firm by the readers of Business Insurance, is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. There are 43,000 employees working in Aon’s 500 offices in more than 120 countries. Backed by broad resources, industry knowledge and technical expertise, Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions.

Aon Limited is authorised and regulated by the Financial Services Authority in respect of insurance mediation activities only.