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Fortress by Vault Commercial

Protect your single and multi-family offices with comprehensive coverage

Family Office Liability Coverage   

Family offices often include managing trusts, investments, assets, domestic employees, estate planning, and more. Because they operate so many facets of wealth management for affluent individuals, they often face higher risks of lawsuits. 

However, many directors, officers, and professionals who oversee family offices may not fully understand the complex risks they face and may not be properly insured. 

Vault Commercial created Fortress to solve this problem. Fortress is a comprehensive liability product tailored to meet the unique needs of both single and multi-family offices in the US.

Inquiries:

To learn more about Vault’s commercial capabilities, please have your insurance broker contact Vault:

Reza Khan
(646) 467 – 4266
reza.khan@vaultinsurance.com

What are the Benefits of Family Office Coverage?

  • Protection from detrimental lawsuits and liability
  • Reduces the liability risks of the directors and officers of the family office
  • Ensures protection from employee lawsuit claims, such as wrongful termination or discrimination
  • Allows the family office to operate their business with confidence and peace of mind
Family-Office-Products

Types of Risks This Coverage Can Protect You From:

  • Error, misrepresentation, neglect, or breach of duty by directors and officers of the family office 
  • Conflicts of interest 
  • Mismanagement of funds 
  • Professional liability claims from clients due to errors, neglect, or inability to perform services 
  • Protects administered trusts and the trustees who oversee them 
  • Discrimination, harassment, or other employment practice issues* 
  • Liability when managing pensions, private funds, and investments** 
  • Services provided on behalf of the family office, such as tax preparation and philanthropic works 

*If Employment Practices Liability (EPL) coverage is purchased. 
**If Fiduciary Liability coverage is purchased. 
Not all products and services may be available in all jurisdictions, and the terms and conditions of all products are subject to the applicable policy language.

Coverage Highlights

  • Broad Family Office Services: Provides comprehensive coverage for the specific challenges that a family office may encounter. While there is usually a fee for these services, there may be instances where it is waived due to business reasons. The services offered range from acting as a trustee for a trust to real estate services, which include selecting and overseeing other service providers.
  • Blended D&O and E&O Coverage: Protects the family office, its executives, and clients with comprehensive insurance that combines Directors and Officers (D&O) and Errors and Omissions (E&O) coverage. This ensures financial protection against claims of mismanagement, professional errors, and breaches of fiduciary duties.
  • Employment Practices Liability Coverage: Safeguards the family office against employment-related claims such as wrongful termination, discrimination, or harassment allegations.
  • Fiduciary Protection: Mitigates family office risks associated with breaches in fiduciary duties related to employee health or retirement plans.
Commercial-Highlights

Additional Coverage Enhancements

  • Real Estate Service Coverage: Covers various real estate activities, such as selecting properties, arranging financing, and managing buying or selling. It also covers overseeing real estate vendors, including third-party property managers. 
  • Trustee Protection: Provides coverage for trustees. We also include coverage for “Trust Protectors,” individuals who are not related to the family members of the insured entity, and who serve as an intermediary, facilitating communication and cooperation between the trustee, grantor, and beneficiaries of the trust.
  • Coverage for Affiliates: An "affiliate" refers to a supportive network of directly or indirectly managed entities, offering family office and fund services. These affiliates include holding companies, parent companies, or managing members/general partners of insured entities that play a crucial role as blockers, feeders, parallels, or co-investment vehicles for various funds. This policy excludes portfolio companies. 


*Not all products and services may be available in all jurisdictions, and the terms and conditions of all products are subject to the applicable policy language. 

Inquiries:

To learn more about Vault’s commercial capabilities, please have your insurance broker contact Vault:

Reza Khan
(646) 467 – 4266
reza.khan@vaultinsurance.com

Ready to Work with Us?

For potential customers with homes valued over $2 million:

REQUEST A QUOTE ➔

For agents and brokers looking to partner with us, submit your application:

BECOME A VAULT AGENT ➔