one advisor for the whole family.

Usually three layers: cover for the office itself (D&O, E&O, crime, cyber and employment practices), cover for the companies it owns, and the family’s personal program (homes, art, boats, aircraft and excess liability). The right mix depends on how the office is structured and what it holds.

Often, yes. Family members, trustees and beneficiaries can bring claims against the people running the office, and many D&O policies exclude claims between insured parties, so wording matters. Many offices buy D&O and E&O together as a management liability package built for family offices.

Mostly with process: call-back checks on every new or changed payment instruction and two people approving large transfers. Insurance backs that up. Crime policies with social engineering cover and cyber policies can respond, but limits for social engineering are often low, so check them.

Usually the company’s own D&O policy first, if they serve as directors. An outside directorship extension on the family office’s policy can sit behind it in case the company’s cover is exhausted, excluded or the company won’t indemnify. Check both policies together.

It depends on net worth, visibility and exposures like homes, boats, household staff and young drivers. Wealthy families often carry far more than the liability built into their home and auto policies. The goal is enough limit that a lawsuit targets the policy, not the family’s assets.

Often it helps. One advisor can line up the office, the companies and the personal program so limits stack properly and nothing falls between policies. Specialist carriers still matter, so the question is less who places each policy and more who sees the whole picture.

Much like private equity firms do: insurance due diligence before signing, R&W insurance where it’s worth it, and a program for each company after close. Family members on company boards should check D&O cover, and the office’s own policy should address its role as an investor.