Amanda Edwards

When we think of risks to our home we may think of fire, flood, or theft. Yet one of the most overlooked threats comes from something much smaller but no less damaging: pests. From mice chewing through wiring in heritage properties to wood-boring insects weakening period timber beams, infestations can cause significant financial, health, and reputational harm if they aren’t dealt with quickly.

In this article we look at why pest prevention matters for your valuable assets, the signs to watch for, and the practical steps you can take to keep your property safe, pest-free, and protected.

Or you can view our brochure on here: Pest Prevention and Protection.

The hidden costs of pests in properties

It is easy to underestimate how much impact a few pests can have on your property, but once they have made themselves at home, the costs can mount quickly and reach substantial sums. Rats and mice gnaw electrical wiring raising fire risks that could result in losses of hundreds of thousands of pounds, while woodworm and other beetles can weaken original timber floors, period furniture, and heritage building elements worth significant amounts. Beyond structural concerns, rodents spread diseases like leptospirosis, cockroaches are linked to asthma and allergies, and even bedbugs and fleas can trigger secondary infections that create health risks for occupants.

Why winter is a critical season for premium properties

Although pests can appear year-round, autumn and winter bring extra risks. As temperatures fall, rodents, spiders, and insects seek warmth indoors. Lofts, garages, and wall cavities make perfect shelters.

For owners of country houses and estates, this means being extra vigilant when the cold sets in. Seal gaps, store food securely, and keep clutter to a minimum. For landlords, seasonal inspections or even a professional pest control contract, are well worth the investment to protect valuable assets.

Pest problems signs in your property

Here are some of the most common signs to look out for:

• Bees ans wasps: increased number of bees and wasps in a specific area, visible entry points such as holes or cracks in structures, and the presence of buzzing sounds.
• Rodents: droppings in cupboards, gnawed food packaging, scratching at night.
• Insects: trails of ants in kitchens, clusters of small holes in timber, or moth damage to fabrics and furnishings.
• Spiders and silverfish: usually found in damp or undisturbed areas like lofts, wine cellars, or basements.
• Moths: tiny holes in clothing, textiles, or carpets, often with webbing or larvae nearby.

Make it a habit to check storage areas, lofts, and less-used corners regularly, especially in winter. For larger properties or multiple holdings, consider professional inspection services.

Proactive steps to reduce your risk

• Seal entry points: block gaps around doors, windows, pipes, and rooflines – particularly important in period properties with traditional construction methods.
• Stay clean and tidy: store food in sealed containers, clear up crumbs quickly, and take rubbish out regularly.
• Control moisture: pests love damp conditions – fix leaks and use dehumidifiers in basements, wine cellars, and period buildings prone to moisture issues.
• Schedule regular checks: keep an eye on lofts, garages, cellars, and outbuildings. For multiple properties, consider systematic inspection schedules.
• Call in the experts: for serious infestations, a professional pest control service with experience in high-end properties is the safest solution.

Taking action now to protect your home

Pest prevention can make a significant difference to your safety, finances, and peace of mind. A clean, pest-free home is healthier, easier to insure, and more enjoyable to live in – while maintaining its value.

By staying proactive – sealing gaps, keeping food secure, reducing clutter, and scheduling inspections – you will be protecting your home from avoidable risks.

Get in touch for help and advice

If you have any concerns or queries on your insurance cover please don’t hesitate to speak to us.
You can call any of the team on 0203 002 9859 or email pcl@jameshallam.co.uk

When most people think about wealth, they picture property portfolios, fine art collections, or perhaps a cellar of rare wines. Increasingly, however, another category is stepping into the spotlight: wardrobes. Clothing, shoes, and handbags are no longer just expressions of taste, they are significant financial assets. Yet, despite their rising values, many clients remain underinsured, leaving themselves vulnerable in the event of a total loss.

Fashion as an investment class

The idea of clothes and accessories as investments may once have sounded frivolous. Today, it’s anything but. The global luxury resale market is booming, valued at around $32 billion in 2022 and set to be worth more than $52 billion by 2026. Platforms like Vestiaire Collective and The RealReal have normalised buying and selling designer goods, while a new generation views luxury fashion not as a depreciating indulgence, but as an appreciating asset.

Handbags are among the most striking examples of this shift. A Hermès Birkin, once bought and tucked away in a wardrobe, can now command several multiples of its original purchase price. Chanel’s Classic Flap has surged in value over the past decade, while Dior’s couture ensembles and rare McQueen pieces frequently achieve six-figure sums at auction. Even sneakers, once dismissed as everyday wear, have crossed firmly into the category of collectible assets, with certain limited editions fetching thousands of pounds.

This transformation has changed how wardrobes should be viewed: not merely as personal effects, but as collections that, in financial terms, can rival wine cellars or art portfolios.

Why underinsurance is so common

Common issues include:

• Outdated valuations – Many policies still record items at their purchase price rather than today’s market value. A pair of designer shoes or a handbag bought for £5,000 a few years ago might be worth double or triple that now, yet the insurance schedule has not kept pace.
• Caps on personal effects – Home insurance contents policies will have a set limit of cover for clothing and accessories and will include an individual item limit. This cover may be inadequate for wardrobes containing multiple handbags, couture, or luxury shoe collections.
• Limited portability. Many policies restrict cover once an item leaves the home, yet luxury fashion is meant to be worn, at events, on travels, even on loan.
• Lack of specialist expertise – General contents policies are not designed with fashion in mind, and without accurate, independent valuations, insurers may rely on incomplete or outdated information. This can lead to settlements that fall far short of the true replacement or resale value of a collection.

The cumulative effect is that many clients are left unknowingly underinsured, despite believing their contents policy is sufficient.

How to protect your wardrobe

The luxury resale market shows no sign of slowing. Designers are deliberately limiting production to fuel scarcity, while vintage pieces gain cultural cachet through celebrity endorsement and social media visibility. Emerging designers are already achieving collectible status, and categories like sneakers and streetwear continue to expand. So what can you do to protect your wardrobe?

Commission proper valuations

Independent fashion valuers can provide detailed, up-to-date assessments that reflect secondary market demand, condition, rarity, and provenance. This ensures your insurance reflects true market value rather than outdated purchase prices. For significant collections, valuations should be refreshed annually.

Implement risk management practices

Complementary steps such as secure storage, photographic documentation, and digital inventories can streamline claims processes. Clients should also exercise discretion in what is shared publicly online, reducing exposure to opportunistic theft.

Choose high net worth insurance

High-net-worth policies go far beyond the limits of standard contents cover. Key features may include:

• Agreed value settlements – giving certainty over what will be paid in the event of a claim.
• Worldwide cover – essential for clients who travel with their wardrobes.
• Automatic appreciation provisions – recognising that items can rise sharply in value between valuations.
• Pairs and sets cover – ensuring a collection retains its integrity if one piece is lost.

For high-net-worth individuals, wardrobes have become part of the alternative asset landscape, sitting alongside art, jewellery, and wine in terms of both value and importance. Protecting them requires the same diligence and specialist approach. This is where we can make a real difference by ensuring your wardrobe is accurately insured to reflect its true value.

Get in touch for help and advice

If you have any concerns or queries on your insurance cover please don’t hesitate to speak to us.
You can call any of the team on 0203 002 9859 or email pcl@jameshallam.co.uk

As our lives evolve, so too do the risks and responsibilities that come with them. Yet amid the pace of daily life, reviewing your insurance portfolio is often pushed to the bottom of the list. Just as you would revisit your financial planning, tax position or legal affairs each year, it is worth checking to make sure that your insurance is still doing what you need it to.

A regular review is a key part of managing your personal and financial wellbeing.

Life changes. So should your cover.

It is easy to assume that once your insurance is in place, you can set it aside and forget about it. But the reality is that cover which made perfect sense a year or two ago may no longer reflect your current circumstances.

Think about the changes that might have taken place over the past 12 months:

• Have you purchased, renovated, or sold property?
• Have you acquired valuable items such as artwork, jewellery, or vehicles?
• Has your family situation changed?

These are just a few examples of life events that could impact your risk profile. Without adjusting your insurance to account for them, you may be unknowingly underinsured, or paying for cover you no longer need.

The risk of being underinsured

Underinsurance does not always reveal itself until a claim is made and by then, it may be too late. A property that has risen in value, a high-spec renovation, or an overlooked asset can all create shortfalls if your policy limits have not been updated accordingly.

It is not only about physical assets. Think cybercrime, personal liability or legal exposures – it is also about ensuring your policies reflect the world we live in today.

Even the best policies can fall out of step if left unchecked.

A review is not a chore, it is a sensible habit

An insurance review does not need to be time-consuming or complicated. In fact, it is often a straightforward process that provides valuable clarity and confidence.

Importantly, it also gives you the opportunity to better understand what is covered, what is not covered and where changes might offer more suitable protection. It is not always about adding more cover – it is about making sure the cover you have is appropriate, proportionate, and relevant.

For individuals with more complex arrangements such as multiple properties, collections, business interests or trusts, this becomes even more important. A review can highlight overlaps, gaps or inefficiencies that are otherwise easy to miss.

Making time for peace of mind

Ultimately, reviewing your insurance portfolio is about staying in control. It is a small effort that can make a significant difference when it matters most. In a world where change is constant, doing so annually is a practical way to stay one step ahead.

When did you last look at your insurance portfolio? If it has been more than a year, or if you have experienced any changes in wealth, lifestyle, or responsibility, it may be time for a second look.

You can call any of the team on 0203 002 9859 or email pcl@jameshallam.co.uk.

As the summer of 2025 unfolds, the United Kingdom’s art scene offers a diverse array of exhibitions that cater to a wide range of artistic tastes. From contemporary installations to classical masterpieces, these exhibitions provide enriching experiences for art enthusiasts and casual visitors alike. Below is a curated selection of noteworthy exhibitions to explore this season.

Royal Academy Summer Exhibition 2025, London

The Royal Academy’s Summer Exhibition, now in its 257th year, continues its tradition of showcasing contemporary art from emerging and established artists. This open-submission exhibition features a variety of mediums, including painting, sculpture, photography, and architecture. The exhibition runs from 17 June to 17 August 2025.

More information

Do Ho Suh: Walk the House, Tate Modern, London

South Korean artist Do Ho Suh presents ‘Walk the House’, an immersive installation at Tate Modern. Using translucent fabric, Suh recreates architectural spaces from his past, inviting visitors to reflect on themes of home and memory. The exhibition is open until 19 October 2025.

More information

Rachel Whiteread at Goodwood Art Foundation, West Sussex

Renowned sculptor Rachel Whiteread inaugurates the Goodwood Art Foundation with an exhibition that blends indoor and outdoor artworks. Her sculptures, including a concrete cast of a shed, are displayed within the estate’s 70-acre landscape. The exhibition runs from 31 May to 2 November 2025.

More information

Siena: The Rise of Painting 1300–1350, National Gallery, London

This exhibition at the National Gallery explores the development of painting in Siena during the early 14th century. Featuring works by artists such as Duccio di Buoninsegna and Simone Martini, the exhibition offers insights into the artistic innovations of the period. It is on view until 22 June 2025.

More information

Cartier: The Story of Style, Victoria and Albert Museum, London

The Victoria and Albert Museum presents an extensive exhibition on Cartier, showcasing over 350 pieces of jewellery, watches, and decorative objects. The exhibition traces the evolution of Cartier’s design and craftsmanship. It is open until 16 November 2025.

More information

Hiroshige: Artist of the Open Road, British Museum, London

This exhibition at the British Museum focuses on Utagawa Hiroshige’s depictions of travel and landscapes in 19th-century Japan. Through prints and drawings, visitors can explore the artist’s portrayal of the changing Japanese environment. The exhibition runs until 7 September 2025.

More information

Anselm Kiefer: Early Works, Ashmolean Museum, Oxford

The Ashmolean Museum presents an exhibition of early works by German artist Anselm Kiefer. The exhibition offers a comprehensive look at Kiefer’s formative years and his exploration of history and mythology. It is on view until 15 June 2025.

More information

Victor Hugo: The Visionary, Royal Academy of Arts, London

Beyond his literary achievements, Victor Hugo was also a prolific visual artist. This exhibition at the Royal Academy showcases his drawings, revealing his imaginative and often surreal artistic vision. The exhibition is open until 29 June 2025.

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Edwardians: Age of Elegance, The King’s Gallery, Buckingham Palace, London

This exhibition explores the opulence and cultural shifts of the Edwardian era through a collection of over 300 objects from the Royal Collection. Highlights include works by artists such as John Singer Sargent and jewellery by Carl Fabergé. The exhibition runs until 23 November 2025.

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Liliane Lijn: Cosmic Dramas, Tate St Ives, Cornwall

Tate St Ives presents the first UK retrospective of artist Liliane Lijn, featuring her explorations of light, movement, and language. The exhibition includes sculptures, drawings, and installations that reflect Lijn’s interest in science and mythology. It is on view until 2 November 2025.

More information

These exhibitions offer a rich tapestry of artistic expression, providing opportunities to engage with art across different periods and styles. Whether you are interested in contemporary installations or historical masterpieces, the United Kingdom’s art scene this summer has something to offer every visitor.

As the warmer months approach, you may be turning your attention to your outdoor spaces. For homeowners with significant investments in landscape design, garden architecture, and premium outdoor furnishings, appropriate protection extends far beyond standard insurance considerations.

At James Hallam, we understand that your garden may represent both a personal sanctuary and a significant investment. Here, we share insights on ensuring your outdoor spaces receive the appropriate protection through the spring and summer months, with practical steps you can take yourself.

Garden furnishings and luxury outdoor items

Fine garden furniture collections and premium outdoor accessories often represent substantial investments that require appropriate cover:

• Policy limitations awareness: Many home insurance policies cap garden item cover levels at what could be a fraction of what many high-quality outdoor collections are worth. It is essential to check your item limits to make sure the cover is high enough.
• Documentation approach: Create your own detailed inventory with photographs and purchase documentation for your valuable outdoor items. This meticulous record-keeping will prove invaluable should a claim arise.
• Bespoke cover: For gardens featuring significant investments, we can arrange bespoke insurance with broader cover much more appropriate for your outdoor spaces.

Garden structures and architectural elements

Sophisticated garden buildings and architectural features require thoughtful insurance planning:

• Cover: Garden rooms, orangeries, and pool houses often warrant specific cover extensions under a standard household insurance policy or they may not be suitably insured.
• Maintenance: Develop your own seasonal maintenance plan for architectural garden features to prevent potential claim complications.
• Security: When it comes to your property and those special garden features, you really want security solutions that protect everything while still looking good. Find options that will meet your insurance company’s requirements but won’t ruin the look of your architecture. It’s all about striking that right balance.
• Specialised use: If your garden buildings serve a specific purpose like housing collections or receiving business visitors – please inform us so we can ensure your policy has the right cover in place.

Preparing for British weather extremes

A well-prepared garden can withstand both severe rainfall and heatwaves, protecting your substantial outdoor investments while potentially avoiding insurance claims:

• Trees: Mature specimen trees add considerable value to distinguished properties but require attention. Regularly inspect trees for dead or weak branches that could damage valuable garden features during storms.
• Drainage: Check for drainage throughout your garden. French drains disguised with decorative gravel, strategically placed swales that appear as natural landscape contours, or ornamental rain chains can direct water away from valuable structures while enhancing your garden’s aesthetic appeal.
• Heat-resilient choices: With increasing summer temperatures, consider heat-resistant materials for patios and walkways that remain cool underfoot. Incorporate shade using pergolas, pavilions or strategic planting to protect heat-sensitive elements and create comfortable entertaining areas even during the hottest days.
• Water systems: Install water collection systems such as elegant cisterns or subtly placed water butts connected to downpipes. These can provide irrigation during drought periods while reducing runoff during heavy rainfall. Smart irrigation systems with moisture sensors can ensure optimal watering while conserving resources.
• Storm preparation: Storms can develop during hot weather. Secure or relocate valuable garden items before forecasted storms. Having designated protected storage areas for furniture cushions, lightweight containers, and garden ornaments prevents damage and potential liability from wind-mobilised projectiles.

Annual insurance portfolio review

As your garden evolves throughout the seasons, so should your insurance protection. Take time each spring to assess your cover following new garden enhancements, ensuring any significant investments in rare specimens, mature plantings, or bespoke features are properly valued and documented. This annual review helps prevent potential cover gaps that might only become apparent when you need to make a claim.

Ensuring proper protection

Your garden deserves the same careful insurance consideration as your main residence.

Many standard UK policies fail to adequately address the substantial value contained in fine gardens and outdoor spaces. High net worth insurance policies typically offer more comprehensive cover, but still require careful attention to detail on limits, and exclusions.

Before the peak garden season arrives, review your current policy to ensure your garden investments receive appropriate protection. Consider whether your policy reflects recent garden enhancements, contains appropriate single-item limits for valuable features, and provides adequate restoration cover should the unexpected occur.

At James Hallam, we specialise in sophisticated insurance solutions. For a personalised review of your garden and outdoor insurance needs, please get in touch. We are here to ensure your complete property portfolio receives the protection it deserves throughout every season.

Get in touch 

If you have any concerns or queries on your insurance cover please don’t hesitate to speak to us.
You can call any of the team on 0203 002 9859 or email pcl@jameshallam.co.uk.

With summer fast approaching, many individuals and families are preparing for international travel. Whether that involves a short-haul break to Europe or extended time abroad. While much of the focus is understandably on destinations, accommodation, and logistics, it is equally important to review one area that often gets overlooked: insurance.

For high net worth individuals, travel insurance plays a crucial role in ensuring a smooth experience when things don’t go to plan. Rather than being an optional extra, the right policies provide access to medical care, support, and financial protection that can prove essential in a crisis.

Does your Private medical cover operate abroad: what to consider

Even for those with comprehensive private medical insurance at home, international travel introduces different variables. Many domestic health plans do not cover emergency treatment abroad or offer only limited support for overseas claims.

Medical costs in certain regions, particularly North America, parts of Asia, and remote locations, can be substantial. For example, treatment for a serious illness or injury in the United States can run into six figures, especially when hospital stays and specialist care are required. Fixing a broken leg can cost up to $7,500 and a short 3-day hospital stay is on average $30,000. You can see how the costs can quickly add up.

We have seen cases where travellers required air ambulance repatriation following an accident. Without suitable travel insurance or private medical cover, it is possible to incur medical expenses of six figure sums with one claim reported by Forbes coming in at more than £250,000. A well-structured private medical policy with global reach can remove those barriers, ensuring rapid access to care and a coordinated return home if necessary.

Key features to look for include:

• Emergency hospital treatment abroad
• Medical evacuation and repatriation
• Access to private healthcare networks worldwide
• 24/7 support from medical assistance teams

Travel Insurance: Beyond the Basics

Standard travel insurance often falls short when applied to more complex or higher-value travel plans. Comprehensive travel cover should extend well beyond lost luggage or flight delays, particularly when travelling with valuable items or to remote locations.

High net worth travellers should consider:

• Trip cancellation or curtailment due to illness or emergency
• Delays or missed connections impacting onward travel
• Medical expenses for emergencies when a Private Medical Policy doesn’t operate
• Cover for political unrest or natural disasters in the destination country

Travel insurance should also reflect the way you travel. Those who take multiple trips each year may benefit from annual multi-trip policies, while more complex or high-risk itineraries may require specialist underwriting. 

An Individualised Approach

There is no one-size-fits-all solution for private medical or travel insurance, particularly for individuals with bespoke needs. The best protection comes from policies tailored to your lifestyle, whether you are spending a month abroad, travelling with dependents, or engaging in specific activities.

If you already have private medical insurance, it is worth checking what international elements are included and whether any exclusions could apply while you are away. Likewise, travel insurance should be reviewed regularly, especially if your plans or circumstances have changed.

Planning Ahead

The best time to review your insurance is well in advance of your departure. By approaching insurance as an essential part of your travel planning, you reduce risk and increase confidence. It allows you to focus on the purpose of your trip, knowing you have reliable support in the background should anything unexpected occur.

Get in touch 

If you have any concerns or queries on your insurance cover please don’t hesitate to speak to us.
You can call any of the team on 0203 002 9859 or email pcl@jameshallam.co.uk.

While paintings and sculptures continue to make headlines with their staggering prices, savvy collectors are increasingly discovering rare and historical photography as an attractive investment opportunity. No longer viewed as art’s lesser cousin, photography has established itself as a powerful asset class, with masterworks now regularly selling for millions at prestigious auctions.

The appreciation of photography collections as an investment

The trajectory of photographic art values tells a compelling story of remarkable growth:

• Andreas Gursky’s “Rhein II” sold for £2.7 million in 2011, setting a record for photography at auction.
• Cindy Sherman’s “Untitled #96” commanded £2.4 million that same year.
• Contemporary photographers like Zanele Muholi and Tyler Mitchell have seen their work appreciate substantially.
• Early collectors often enjoy returns outpacing many traditional investment vehicles.
• Many collections increasing in value tenfold within a five-year period.

These are not isolated examples but clear indicators of photography’s ascendance as a serious investment requiring appropriate protection.

Unique insurance considerations for photography collections

Photography presents distinctive challenges separating it from other collectibles:

Editioning complexities

• Unlike paintings, photographs typically exist in limited editions.
• Edition size significantly impacts valuation.
• Artist proofs carry different values than standard editions.
• First prints command higher premiums than later prints.
• Edition numbering affects insurance considerations.

Material vulnerabilities

• Photographic works show particular susceptibility to environmental damage.
• Light exposure causes irreversible fading in even modern prints.
• Humidity fluctuations lead to paper warping or mould formation.
• Temperature variations can compromise print stability.
• Even archival materials require meticulous care maintenance.

Provenance challenges

• The reproducible nature creates unique authentication concerns.
• Establishing ownership history proves essential for verification.
• Digital technologies have complicated authentication processes.
• Certificates of authenticity require secure storage.
• Auction records provide crucial valuation benchmarks.

The essential role of specialist insurance

Standard household policies cannot address the nuanced requirements of fine art photography collections. The market demands specialised cover:

• Common cover gaps to avoid – Many collectors discover crucial protection gaps only after an incident occurs, typically finding outdated valuations, inadequate transportation cover during vulnerable periods, and standard policies that exclude light and environmental damage (the primary threats to photographs). These policies often provide insufficient restoration options and minimal cover for the contemporary printing processes.

• Future-proofing your photography collection – We recommend regular reappraisals to ensure your insurance cover matches the value of your collection. Forward-thinking collectors must anticipate market dynamics, including emerging artists whose values can skyrocket overnight and evolving authentication technologies that continuously transform how provenance is established and verified.

• Beyond financial protection – While financial protection forms the foundation of cover, truly comprehensive insurance extends beyond simple replacement values. The best policies focus on restoration rather than replacement. When claims occur, specialised handling by photography experts ensures proper care, ultimately providing the confidence that allows collectors to enjoy their investments without unnecessary worry or concern.

At James Hallam, we see photography not just as an alternative investment, but as a true passion. That is why we are dedicated to protecting these collections with the care they deserve. In a world full of uncertainty, specialist insurance offers peace of mind, helping ensure these treasured pieces are preserved for the next generation of collectors and enthusiasts.

In an increasingly digitised world, where nearly every financial transaction and personal record has a digital counterpart, high net worth individuals face growing risks from cybercrime. While traditional security has long protected physical assets, today’s most dangerous threats are often invisible, lurking in inboxes, online accounts, and the dark web.

The evolving nature of digital threats

Cybercriminals are no longer operating as lone hackers but as part of organised, sophisticated networks. These groups often target wealthy individuals with attacks designed to exploit the complexity of their financial arrangements. The National Cyber Security Centre (NCSC) has repeatedly warned that cybercriminals are employing increasingly sophisticated tactics like impersonation, email spoofing, and ransomware attacks, to infiltrate systems and steal sensitive data or funds.

In 2023 alone, the UK saw a 13% increase in cybercrime reports, according to data from Action Fraud, the UK’s national reporting centre for fraud and cybercrime. High net worth individuals are particularly exposed, given the greater scope and fluidity of their financial dealings.

Why wealth attracts cybercrime

Affluent individuals offer a high return on investment for cybercriminals and are targets because:

• They typically hold multiple bank and investment accounts.
• They are more likely to approve large financial transfers.
• Their personal networks include professionals (lawyers, advisors) whose accounts may be more vulnerable.
• Their financial arrangements – often involving trusts, offshore entities, or family offices – can obscure fraudulent activity for longer periods.
• High net worth individuals make ideal candidates for ‘whaling’ attacks – phishing scams that impersonate a trusted contact to deceive someone into making a high-value transaction.

Real-world cyber threats in the UK

The following UK-specific incidents and trends demonstrate the severity of the risk:

• Email spoofing in property transactions – One case involved a couple who lost £333,000 after having their emails intercepted during the process of selling a flat.
• AI-generated voice fraud – The head of the world’s biggest advertising group was the target of an elaborate deepfake scam that involved an artificial intelligence voice clone.
• Ransomware attacks on high-profile individuals – According to a 2023 National Crime Agency briefing, there was a sharp rise in ransomware attacks targeting business executives and prominent individuals. Average ransom demands exceeded £90,000, and in some cases, hackers threatened to release sensitive personal or business information unless payment was made.

The hidden costs of cybercrime

The financial impact of cybercrime is significant, but the true costs often extend far beyond the stolen sums. Victims frequently incur substantial legal fees while recovering stolen funds or defending against resulting liabilities and it can take a long time to resolve identity-related crime disrupting both personal and professional life. There is also the emotional impact that such an incident can have. A 2023 survey by the Victims’ Commissioner for England and Walesfound that 84% of cybercrime victims reported stress, anxiety, or feelings of vulnerability. For those in leadership or public-facing roles, data breaches can damage credibility, strain relationships, and affect long-term career prospects.

Personal cyber protection: what you can do

Protecting yourself digitally is not just about having antivirus software. It requires a layered approach, combining technology, education, and tailored support.

Practical steps include:

• Regular vulnerability assessments: These can identify weak spots in your digital footprint, such as exposed passwords, misconfigured cloud services, or insecure communications.
• Advanced authentication methods: Use multi-factor authentication (MFA), biometrics, and password managers across all sensitive accounts.
• Secure your communications: Avoid using unencrypted email for financial transactions. Employ secure client portals or end-to-end encrypted messaging services.
• Staff and household training: If you employ personal assistants, house managers, or IT support, ensure they understand how to identify phishing and social engineering attacks.

At James Hallam, we recognise that personal security extends beyond alarm systems and safes. We work with high-net-worth individuals and a select panel of insurers to ensure that you receive Cyber Cover which can include a combination of advice helplines and cover for a potential financial loss.

Get in touch 

If you have any concerns or queries on your insurance cover please don’t hesitate to speak to us.
You can call any of the team on 0203 002 9859 or email pcl@jameshallam.co.uk.