The Changing Insurance Landscape

In this 2011 FOX Financial Executives Forum session, personal product line experts from the underwriting and brokerage markets address changes in the insurance industry, personal insurance considerations, a risk management approach to insurance, and family office liability and solutions. 

• It has been difficult for insurance carriers to offer family office coverage due to a lack of transparency. However, potential family office registration will lead to more scrutiny, and carriers may be more willing to offer insurance to family offices. 
• Mass market insurance products do not offer adequate protection for wealth owners. A conventional homeowners policy, for example, does not cover art. Wealth owners are better served by a collections policy. 
• How you can advise your clients: address the obvious, evaluate private staff and other employees, ensure information is secure, and access the right insurance resource.