Family offices

Tailored industry coverage

What are family offices?

A family office is a financial services practice that typically serves a high net worth family.

Appetite

Services covered often include estate planning, tax planning, and philanthropic planning, in addition to investment advisory and financial planning services.

Coverage & Benefits

Primary coverage:

Protection for all types of financial services the office provides to beneficiary families
Built in coverage for inquiries of insured persons is included, as is coverage for expenses relating to crisis management and extradition.

Secondary coverage available for:

Cyber/Privacy to protect against data breaches and theft of sensitive information,
Employment Practices Liability (EPL) to protect the company from lawsuits brought by employees,
Fiduciary, covers the liabilities of those responsible for managing employee benefit plans, and
Employed Lawyers for in-house attorneys.

FAQs

Do you have the ability to offer cyber coverage?
Cyber can be included on this policy as a separate coverage part.
I already buy D&O, why do I need to buy E&O?
D&O coverage generally excludes claims brought by customers or regulators alleging the failure to provide professional services. E&O is designed to provide that coverage.
Does your policy respond to an informal regulatory investigation?
While informal investigations do not traditionally meet the definition of claim, our policy can provide defense coverage for insured persons to respond to informal regulatory investigations.

Related products

Package Family office coverage with the following products: Cyber and Management Liability.

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Claims scenarios

Not sure what risks our product covers? We’ve brought some scenarios to life.

Crowdfunding

A crowdfunding platform presented an investment that turned out to be fraudulent. The platform discovered the fraud and returned all the money to the investors. Another party claimed injury by the offering, alleging that, in addition to the fraudster, the platform was also liable since they received a portion of the funds raised. The platform was eventually deemed not to be liable, but they incurred significant expense to defend themselves.

Crowdfunding