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Personal Risk Management For Family Offices

Large, multi-generational families with substantial assets have unique risk management needs, as do the family office risk managers and advisors who serve them.

For more than 50 years, Marsh’s Private Client Services (PCS) has been creating customized personal insurance programs and risk management education to help protect families with complex structures, relationships, and exposures, and to help support, protect, and advance their associated family offices and enterprises.

The PCS Advantage

As a pioneer of family office risk management services, Marsh’s Private Client Services (PCS) has Family Office Specialists across the country with decades of experience addressing the broad range of exposures and serving the widely varied structures and dynamics of large families. Further, as part of the larger Marsh organization, we have access to a breadth of global resources that enable us to fulfill client needs across the country and around the world.

How PCS is Different

Our robust family office service framework embeds powerful analytics and tools to help maximize the impact we can have on your risk analysis at each juncture — from risk identification and quantification, to solution design,  to policy implementation and management, and continuing through claims advocacy. We provide our family office clients with customized data, experience, insight, analytical tools, resources, and marketing prowess to define, design, and deliver a thoughtful and insightful program for the family’s personal property and liability insurance needs as well as other important exposures.

Our data, analytics, customized program and service design, coupled with our broad, global reach give our clients a distinct advantage. Families and family offices benefit greatly in the following ways.

Key Benefits

  • Advice and Counsel — Through our in-depth, comprehensive consultation and vast industry expertise, we are able to deliver a customized personal insurance program with recommendations to address the diverse exposures of each family member while taking into account differing holdings, geographies, and levels of risk tolerance. Further, because we have a firm-wide culture of collaboration, we are able to utilize our global resources to provide the family with specialized expertise across geographies.
  • Personalized Client Service — Committed to true client focus, PCS creates a sophisticated service model based on the needs of each family and family office staff. Each family client receives a dedicated Client Advisor to serve as the main point of contact. Depending on your needs, families and family office managers may benefit from an enhanced service team that could include supporting colleagues in claims and endorsement processing, as well as a senior relationship manager, technical advisor, and/or contract review specialist. In addition to the ongoing prompt and courteous services provided by your dedicated team of specialists, we also offer regular comprehensive risk management reviews to help ensure alignment between the ever-changing needs of the family and the insurance program in place to protect them.
  • Industry Strength — Our established strength in the insurance industry has enabled us to foster successful, long-term relationships with the top insurance companies in the high-net-worth space. This results in the ability to deliver outstanding program marketing, placing broad risks with competitive rates, optimal terms, and varied coverage options on behalf of our clients.
  • Program Advantages — We’ll develop a single holistic personal insurance program for the family that includes the implementation of family standards and placement protocols as well as the benefits of premium advantages, management efficiencies, and industry-leading solutions.
  • Dedicated Specialists — To provide the deep subject matter expertise required in certain areas of risk, PCS has direct access to dedicated specialists in the areas of luxury yachts, fine art, private aviation, management liability, directors and officers exposures, as well as resources to address commercial insurance needs.
  • Claims Advocacy — Providing client advocacy and support throughout the claims process, the Marsh Canada Claims Department works with insurers on behalf of our clients to provide assistance should the need ever arise.
  • Access to Enhanced Services — Working with our core underwriters, we have the ability to provide access to extra risk management services such as appraisals, background checks, and security consultations, among other specialized services.

Advanced Benefits for Family Offices

In addition to addressing family exposures, it is our goal to support family office managers and staff by providing specialized education, counsel, and service as well as innovative resources and insight that helps them navigate with ease through family risk management situations.

  • Management Liability Expertise — With deep understanding of the professional liability concerns facing family office directors, officers, and trustees, we can offer solutions for each client’s specific needs based on our extensive knowledge, experience, and benchmarking of our national client base.
  • Educational Resources — As a thought leader in the high-net-worth insurance space, we can share intellectual capital, alerts, and education around key risk issues and solutions that may affect the family and the business.
  • Insights and Data — Marsh is a leading risk and insurance services firm in the world and PCS is one of the largest personal insurance brokers in the Canada focused on the high-net-worth market. With our exclusive market insights, we are able to share custom benchmarking data, create program analytics, and develop modeling that enhances the family office manager’s risk perspective.

PCS works with family offices to minimize the complexities of managing a family’s exposures using insurance products and risk mitigation strategies that help protect the client’s lifestyle, safeguard their legacy, and offer lasting peace of mind.

About PCS

At PCS, a business practice of Marsh Canada Limited, we design personal insurance solutions to protect our clients’ unique lifestyles and offer lasting peace of mind. Our comprehensive service offering includes specialized expertise in homes, automobiles, collections, antique cars, yachts, fine art, jewelry, aviation, farm and ranch, and commercial needs.

As part of Marsh, a global leader in insurance solutions and risk management services, we provide clients with worldwide resources and exceptional claims advocacy. PCS strives to build long-lasting relationships with clients through attention to detail and commitment to superior service.

For more information about comprehensive family office risk management from PCS, visit marsh.ca.

Fast Facts

PCS provides industry-leading risk and insurance solutions to families with substantial assets who are members of a:

  • Single family office.
  • Multi-family office.
  • Privately held family business.
  • Private trust company.

We represent family offices that serve a profile from the founding generation to, in some cases, fifth generation.

We are privileged to work with 21 of the top 100 wealthiest individuals/families in Canada.

We are unique in the industry to have, in addition to our client advisory teams, dedicated business support teams in the areas of claims, operations, learning and development, quality assurance, analytics, and market information. These resources allow our client advisory colleagues to focus on client service above all else.

PCS is proud to be guided by an internal code of ethics that lays the foundation for our global culture of trust, collaboration, and service.