Family offices have become a popular way for high net-worth families to manage their assets through varied and sometimes nontraditional investments. These offices can be comprised of a single family with multiple generations of wealth or a multi-family office which consists of multiple families combining their assets to make investments.
Family offices help high net-worth families preserve and transfer wealth. Daigle & Travers has the unique ability to be able to help service our family office clients with experts on staff to help answer any questions when it comes to commercial or personal insurance exposure.
Successful family offices in the Greater New York area combine financial, philanthropic, legal, and administrative operations and help ensure that family objectives are achieved from generation to generation.
Family offices are no different than any other company; they still have the same exposures as any other employer. Due to this fact, there are certain insurance coverages that they need to carry and others that they should carry.
Daigle & Travers can provide all coverage needed for a family office, such as:
- General Liability
- Commercial Property
- Professional Liability (Directors & Officers and Errors & Omissions
- Employer Liability Insurance
- Crime/Theft Insurance
- Commercial Umbrella
- Workers Compensation
- Commercial Auto Insurance
Family offices have diversified their investments. Many offices now operate as private equity funds. Families are investing in companies (partial or complete control). When a family acquires a company and reorganizes it for profitability, they may crack some eggs. It is in the offices best interest to make sure that they have the proper protection in place prior to making their investments.
Another popular investment that family offices are investing in is commercial real estate. Daigle & Travers represents the top insurance carriers and helps our clients insure their portfolios of property regardless of where they are located.