Chubb has launched a suite of insurance coverages to help family offices in Canada manage risk.
Family Office Amplifier is a flexible package of coverages that includes specialised terms and conditions that reflect the evolving financial and regulatory environment.
"Family office directors, officers and executives face complex liability exposures. They are charged with adhering to a high level of fiduciary care in managing their high-net-worth clients' wealth and assets. Failure to adhere to these fiduciary duties can result in costly litigation," says Cameron Rose, senior vice president, financial lines, Chubb in Canada. "Family Office Amplifier recognises the unique needs of family offices and offers liability protection in a customisable insurance package to help protect the firm from these liabilities."
"Family Office Amplifier is a testament to Chubb's broad and complementary capabilities that span its commercial and personal lines products and services," says Paul Johnstone, senior vice president, personal risk services, Chubb in Canada. "We are excited about what this new suite of coverages offers our high-net-worth clients utilising family offices."