Elevating High-Net-Worth Risk Management: Insights from Diane Delaney of PRMA

In the latest episode of The Accelerator podcast by Hagerty, hosts John Gessner and Bryant Kolle sit down with Diane Delaney, CEO and Executive Director of the Private Risk Management Association (PRMA).

Listen to the latest episode and read below for the episode's key learnings.

Key Takeaways for Agents & Brokers

1. Adopt the Right Mindset

• Stay curious and eager to learn, no matter your experience level.
• Embrace positivity and realism - there’s no magic shortcut, but steady process pays off.
• Slow down to truly understand client needs instead of rushing to quote.

“We sit at the same table as wealth advisors. You can’t grow a portfolio without also protecting it from liability and loss.” – Diane Delaney

2. Leverage PRMA Education & Community

• Access designations like the CPRM to build expertise in affluent households’ unique risks.
• Use the All-Member Forum to get real-time input on tough placements.
• Encourage new-to-HNW producers to supplement in-house training with PRMA resources.

3. Translate Client Concerns into Opportunity

PRMA’s recent survey of affluent families revealed:

• Confidence gap: 95% feel “covered,” but 65% worry about exclusions at claim time.
• Generational differences: Millennials fear lawsuits and cyber exposure far more than Boomers.
• Collections matter: ~40% reported owning collector cars, with most planning to pass them down.

For agents and brokers, this creates opportunity to:

• Educate on exclusions —what coverage does not include.
• Lead liability conversations with Millennials by focusing on lawsuit protection.
• Use passion assets (collector cars, art, wine, etc.) as entry points to deeper HNW conversations.

4. Shift from Reactive to Proactive Risk Management

Coverage is only part of the solution. Clients want advisors who also help prevent losses.

• Home resilience: Leak detection, fortified roofing, wildfire preparedness.
• Cyber hygiene: Teach best practices alongside offering policies.
• Umbrella coverage: Revisit liability limits regularly, especially in an age of social inflation.

5. Practice Skills Before High-Stakes Meetings

Delaney sees big potential in AI sales coaching tools that simulate tough client conversations. Practicing with AI can sharpen questioning, objection handling, and listening skills without risking credibility in front of a high-net-worth client.

What Agents Can Do Now

1. Lead with a collector car or passion asset conversation.
2. Offer an exclusions review with your top clients.
3. Reassess umbrella liability limits in light of social inflation.
4. Explore PRMA’s designations, courses, and community forums.
5. Invest in sharpening your discovery and sales skills - practice matters.

PRMA at a Glance

PRMA serves as the professional hub for the private risk ecosystem - agents, brokers, carriers, service providers, and family offices. The nonprofit association provides:

• Education: Designations, courses, and sales training tailored to HNW complexities.
• Networking: National summits and expanding regional chapters.
• Community support: The “All-Member Forum,” where professionals collaborate and share solutions.

Delaney emphasizes that while many of us are competitors, “There’s plenty of business to go around, and we need each other to advance in this industry.”

Final Thoughts

At Hagerty, we share PRMA’s commitment to professional development, collaboration, and elevating the client experience - especially in the high-net-worth and passion asset space.

Collector cars are often the key that opens the door to broader conversations about lifestyle protection, wealth preservation, and legacy planning. By pairing those insights with Hagerty’s trusted insurance solutions, agents and brokers can deepen relationships, protect what clients love most, and grow their business in a meaningful way.

Together, we can ensure that driving - and everything it represents - remains protected for generations to come.