The 2024 Family Office Benchmarking Study

In a world filled with unprecedented risks and uncertainties, families and the family offices that serve them face mounting challenges. The current personal lines insurance market is the toughest we’ve seen in decades, amplifying the need for robust and proven risk management strategies.

Our revealing Family Office Benchmarking Study for this year highlights a clear reality: clients are acutely aware of the complexity and growth of their exposures. But they require expert guidance to shield their family members, assets, and legacies from volatile and unpredictable threats.

Family offices have cited several areas of great concern that leave them feeling unprepared. Among these concerns, three stand out as critical: natural disasters, cyber risks, and personal liability. The rising frequency of weather events causing severe damage; the ever-evolving nature of cyber risks; and the growing financial implications of accident-related liability have placed these concerns at the forefront of family office priorities. 

In this era of increasing complexity, and generational involvement in family affairs, it has never been more crucial to work with a trusted and respected personal risk broker. As risks become more intricate, and the next generation takes the reins, family offices and clients who prefer to self-direct their programs can greatly benefit from expert advice and counsel.

By consulting a trusted, expert personal insurance and risk advisor you can:

• Assess your family’s unique risks comprehensively, ensuring no stone is left unturned.
• Determine the appropriate elements required to build a robust risk management and insurance program tailored to your specific needs.
• Protect your family members and safeguard their legacies, providing peace of mind for generations to come. 

Don’t leave the protection of your family’s future to chance. Partner with a trusted and respected personal risk broker who understands the intricacies of family office dynamics and can guide you toward a secure and prosperous future.

Our experts share the findings from the 2024 Family Office Benchmarking Study in this on-demand session.