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The complex, convergent nature of risks facing high-net-worth families requires family offices to adopt both a holistic and strategic approach to risk management than many have in the past. The ones who can make the change will be best positioned to successfully navigate the challenges that range from overarching trends of growing families to increasing frequency and severity of natural catastrophes and personal security risks.

Families spend a lifetime building a legacy and tragically, just one lawsuit can place that legacy in jeopardy. Without that critical layer of personal liability insurance, your are at risk. Personal excess liability coverage—commonly called an umbrella policy—protects individuals from a covered claim brought against them, personal injury, or property damage in excess of underlying policies.

In this episode, learn about the top four cyber security threats to business owners. In a discussion that took place during the National Cyber Security Awareness month, Information Security Officer, Gilli Shaw, and Marketing Director, Jen Dowd, dig into the top risks and how to prevent them. They cover the controls you can put in place to protect yourself from ransomware, phishing, and spoofing; how using multi-authentication best practices is smart business; and how to keep your greatest asset, your employees, from being your biggest risk.

What are the top four cyber security threats and how can you protect yourself? In this podcast, Information Security Officer, Gilli Shaw, and Marketing Director, Jen Dowd, dig into these risks. In their discussion, they cover the need to have antivirus on every device that connects to the Internet; the risk of Internet of Things and smart devices poses; and the steps to take to help prevent identity theft, and social engineering.

A Life insurance audit is an everything-to-gain, nothing-to-lose proposition for a trustee of a trust that owns life insurance where significant planning is in place. A proper, thorough audit is needed to mitigate the fiduciary liability. It also starts with understanding the difference between a Life Insurance Review and a Life Insurance Audit.

Ultra-high net worth clients are often more focused on asset preservation than accumulation. Yet while they commonly own multiple homes, automobiles, watercrafts, heirloom jewelry and other expensive collections like art and wine—all of which greatly increase their risk—few have the specialized coverage needed to adequately mitigate that risk. Personal Excess Liability coverage is a critical tool in protecting your clients’ wealth.

Whether caused by family member carelessness, employee error, or the acts of a skilled data thief, everyone has the potential to be the victim of an information breach at any time. Because family offices collect very personal information about very private people, the stakes are high when it comes to protecting their data. Family offices can better protect the families they serve by having a cyber-incident plan in place and following the six recommended steps to prepare for and respond to a system breach.

Most professionals understand that work emails can be “discovered” in litigation, meaning that adverse parties can obtain these communications if they are relevant to the dispute. Recently, courts have begun ordering parties to produce other types of communications during discovery, including personal emails and messages. It is important for family businesses and offices to take the proper precautions with their communications to avoid common discovery pitfalls.

Each family office has its own unique makeup, circumstances, and risk considerations when it comes to making insurance decisions. Yet there are typical characteristics that surface when looking at the data points of more than 1,000 households. With a high-level snapshot of that data, there are insights you can use when contemplating your overall insurance needs.

Roughly 15% of ultra-high net worth individuals worldwide rely on private aircraft for most personal and business flights. When weighing your options on aircraft ownership, there are pros and cons that should be considered. It's also important to know the key players to help you navigate the selection, purchase, management, financing, and disposition of an aircraft.