Family office insurance and risk management

At Willis, a WTW business, we understand that managing a family office involves a blend of sophisticated financial strategies to enhance wealth for the family as well as personal considerations when it comes to protecting the individual family members from financial harm. We also understand that your primary focus is on innovative ways of preserving and growing wealth across generations, and so it's imperative that your risk management strategy should be just as innovative as well as forward-thinking and comprehensive.

That is why working with Willis makes sense.  We're a trusted partner and leading provider of risk management and insurance solutions for many family offices around the globe, offering programs designed to safeguard family assets, mitigate emerging threats and provide peace of mind.

Who we serve: Dedicated support for family offices

This service is specifically tailored for family offices who are responsible for the holistic protection of their family's wealth, assets and legacy. You're navigating an increasingly complex world and you need a partner who not only understands these intricacies but also anticipates future challenges.

The challenge: Protecting what matters most in a volatile world

Family offices face a dynamic landscape of risks, from market volatility to evolving cyber threats and complex liability exposures. We recognize the significant pain points you encounter:

• Rising costs and limited capacity: Many lines of insurance, including professional liability, trustee liability, cyber, commercial and home insurance, are experiencing significant price increases, stricter underwriting and limited capacity
• Complex underwriting: Securing comprehensive coverage for specialized risks often involves intricate and time-consuming underwriting processes
• Emerging threats: From sophisticated cyber-attacks and financial crimes to the increasing frequency of catastrophic weather events and liability claims, new risks constantly emerge, demanding proactive solutions
• Fragmented solutions: Piecing together adequate protection from various providers can lead to gaps in coverage and inefficient management
• Preserving wealth: The goal is to ensure your family's financial resources are protected and can continue to support their long-term objectives without unexpected disruptions

Our solution: A holistic and proactive risk management partnership

We don't just offer insurance; we provide a comprehensive, customized asset protection program built around your family's personal and financial goals. Our approach to family office risk management is rooted in a deep understanding of your world:

• Comprehensive risk analysis: We begin with a thorough risk analysis and review of your family office's exposures. This involves in-depth discussions, document gathering and gaining a deep insight into your specific needs and concerns
• Customized program design: Based on our analysis, we design a bespoke risk management program. This often includes tailored family office insurance solutions as a means of transferring risk, ensuring maximum capital efficiency and comprehensive coverage
• Strategic implementation and transition: We develop a customized plan for transitioning your insurance program, considering your family's size, current insurers and specific requirements. Our methodical process ensures a smooth and effective implementation
• Ongoing advocacy and review: Our commitment extends beyond placement. We conduct annual reviews of your risk management and insurance program, proactively contacting you well in advance of renewals to ensure your coverage remains optimal as your needs evolve

Success story spotlight

The challenge

A multi-generational family office faced escalating cyber threats and complex international property exposures, leading to fragmented coverage and rising premiums.

Willis’ solution

Our client advocate team conducted a holistic risk assessment, consolidating their global portfolio and leveraging our market relationships to secure a comprehensive, cost-effective family office insurance program. We also implemented advanced cyber risk mitigation strategies.

The outcome

The family office achieved significant premium savings, enhanced coverage across all assets and gained peace of mind through a unified, proactive family office risk management strategy.

Frequently asked questions