Risk Management at FOX is focused on all aspects of risk for its membership including families, family offices, operating companies, and advisor organizations. FOX hosts a quarterly meeting comprised of different vendors and thought leader specialists whose focus is in the areas of Cybersecurity, Physical Security, Personal Security, Insurance, Governance Risk, and so forth. FOX membership is invited to learn and discover the broadness of this kind of risk management and more importantly, directions and solutions to help face the challenges that come with it.
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In a wide-ranging survey of 800 affluent North Americans, we asked about how they view their wealth, what they value most, who they turn to for financial advice, and what keeps them up at night. This Report examines the growing gap between what successful individuals and families value and how they choose to protect it against a myriad of risks. And with assets representing more than their dollar value, it’s pivotal for families of wealth to take action and shore up protection of what they value most with comprehensive risk and insurance strategies.
In this comprehensive report and outlook, expert and actionable insights are gathered to show 2024’s most impactful trends and challenges across insurance lines and major industries. A brief retrospective is also provided for each insurance line, including property, general/products liability, auto, umbrella/excess, workers’ compensation, cyber, directors and officers (D&O). As you navigate the multifaceted insurance landscape, each segment will bring its own set of challenges and opportunities, shaping the strategies and decisions of both insurers and insureds.
Owning a private aircraft can provide many advantages for high-net-worth individuals, business owners, and entrepreneurs. However, it’s important to understand the tax complexities and costs associated with aircraft ownership. Here we explore six key tax implications of owning a private aircraft. Keeping in mind there are many nuances to these tax implications, the high-level overview provides insights for consideration when thinking about buying a private aircraft.
Cybersecurity is a known and growing risk that all family offices need to address. The potential of a cybersecurity attack is no longer a matter of whether it will happen, it’s now a matter of when it will happen.
As the world becomes more digitally connected, cybersecurity risks will keep rising. The larger your digital footprint, the greater your cyber risk. With this self-defense guide and best practices by William Blair & Company, you can safeguard your online identity and protect yourself against the loss of personal data and assets.
This session will help attendees understand how to manage the challenging insurance market including steeply rising insurance P&C premiums and canceled policies. Speakers will discuss how to keep premiums down as much as possible and how to work with brokers to ensure you’re considering the best strategies for dealing with this challenging insurance environment.
Water damage is consistently among the most common and severe causes of loss to homes. It is amazing to see the damage that water can do. Water carved the Grand Canyon—just think what it does to drywall or plaster. By being proactive and arming yourself with knowledge, you can prevent or mitigate the damage.
Even the most well-run, retirement plans can be the target of an excessive fee claim, which can cost millions of dollars to defend and/or settle. Being prepared and taking the necessary steps—including obtaining fiduciary liability insurance—can help reduce the claims, mitigate the exposure, and protect against potentially devastating loss of personal assets.
Minority owners of a business face unique challenges. With limited or no control over the management and governance of a business, minority owners can be unfairly left in the cold or squeezed out. However, deliberate preparation and negotiation at the initial stages of the business can set up minority owners with the necessary tools and formation agreement to eliminate or reduce many of these difficulties and even avoid future conflict.