Chubb

Family offices managing complex personal risk exposures, from high-value homes and collections to liability across multiple jurisdictions, face a persistent gap between standard insurance coverage and what their actual asset profiles require. Chubb’s Personal Risk Services division addresses this directly, offering customized personal insurance designed for high-net-worth individuals and families, with claims specialists focused on complex, high-value losses rather than standard retail claims processing.

Chubb operates across more than 54 countries with claims teams on the ground, which matters to families with property and exposure in multiple locations. The firm backs its policies with over $200 billion in global assets and paid $21 billion in claims globally in 2023. For family office principals evaluating an insurer, that financial strength is a material consideration when insuring irreplaceable assets.

Key features relevant to private wealth clients include:

• Customized personal insurance for individuals and families, not adapted commercial products
• Proactive risk management guidance and loss prevention services
• In-house risk engineering network of nearly 500 professionals globally
• Physical climate risk analysis through Chubb Resilience Services
• Dedicated claims specialists with personal-line expertise for high-value situations

Chubb also provides coverage for trust property, with published guidance on trust property inspections and best practices for protecting assets held in trust structures. This is directly relevant to family offices administering assets across entity structures.

The primary limitation for a family office evaluating Chubb is that pricing is not publicly disclosed and must be obtained through agents, brokers, or a direct quote process. Chubb distributes primarily through agents and brokers rather than direct channels, which adds an intermediary to the procurement process. Families seeking a single direct relationship with an insurer may find that structure less convenient.