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Is Your Family Office Covered?

Do you have family office coverage?

Family offices are an investment in themselves and it’s important to make sure they’re covered. They’re personalized, privately held companies that support wealthy families, their finances, and investment management. Your family and the offices that support it have risks and exposures to them every single day, whether you can see them or not. If you have kids, specifically teenagers, your family can be at high risk on the digital side of things. Do you have a babysitter, a nanny, or a chauffeur? This creates large risks for your family as you bring new people into your home, sometimes unsupervised. Fit neither of those categories? There are plenty of general risks that your family is exposed to.


Even if you do not have teenage children, you can still be exposed to digital risks. Teenagers love the internet and are on it more than you can imagine. They rarely are anywhere without their phone, even if it’s going from their bedroom to the kitchen for a quick snack. Millennials tend to act before they think about the repercussions. Sometimes they want to play a game or go to a website and click through popups to get there. This can be hazardous as it can cause viruses on the computer, phone, or tablet or expose your device to hackers. Reputation risk is also in part with digital risk. Reputation risk can damage your finances should you own your own company. In addition, it can damage relationships you have with others. Things you or your family posts on social media can greatly add to your reputation risk. It can either increase your reputation as a good person/family and gain more relationships and revenue or can pin you as a not-so-great person/family. Make sure everyone in your family is aware of this and the risks of posting online.

Employer Risk

It’s nice to have help around the house or with the kids. It’s crucial to remember that these people have direct access to your home, your cars, and your belongings. When hiring on residential staff, there are lots of things to take into consideration. These residential staff can even have access to important documents that could lead to fraud. Here is a great article by one of our insurance carriers, CHUBB, that highlights the importance of keeping tabs on your residential staff.

General Risk

There are thousands of risks you and your family face every day and sometimes it can be occasional like traveling. Traveling becomes a large risk for many reasons. The first being is that you are leaving your home unattended for a period. This could lead to break-ins if you’re not careful. Have your kids not post pictures of their trip until after your home. This can reduce the risk of having a break-in. Also, make sure you have a central security system that immediately calls the police department should a break-in occur. Renting an apartment, for say your young adult child, can also be a risk. Get renter’s insurance and be sure they’re living with responsible roommates. Unreliable roommates can lead to doors staying unlocked or disrespectful guests that end up stealing their valued items.

No matter the situation, your family is posed with exposures and risks every day. It is important to make sure you and your family are covered. Life is stressful enough, let us take care of your insurance needs. Give Vero Insurance a call at 773-945-6000 or send us an email at It’s not business, it’s personal.


Interested in learning more? Please email us at or call 773-945-6000.

Vero Insurance is a niche broker with a focus on providing insurance placement and risk management services to high-income families. Here at Vero, we love to provide you with exciting and fun articles to learn more about insurance and how it impacts your life. Visit our other blogs to find more information.

While Vero does offer a wide variety of personal insurance coverages, our main coverages include: personal umbrella insuranceauto insurance, and homeowner’s insurance.