Report: Rich families overpay for yachts

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Wealthy families pay too much to insure yachts, paintings and the risk of being taken hostage because they aren't using their purchasing power to negotiate better deals, according to brokers.

Families with more than $49.5 million can cut their premiums by as much as 30 percent by pooling policies covering everything from medical care to classic-car collections, said Romain Vanolli, head of Aon in the French-speaking region of Switzerland.

Click here to read a report by Bloomberg.