RC Insurance Broker has announced the launch of a new insurance product developed jointly with a leading insurance company specifically for professional managers of family offices.
It is the first specialized insurance solution in Russia designed to protect against professional risks associated with private wealth management.
Growing demand for strategic asset management services, together with the emergence of new models for holding and transferring wealth, creates a need for reliable protection mechanisms. The new product covers risks arising from potential errors, omissions or legal claims in the course of fund management. The policy may cover losses, legal defense costs and other related expenses.
“We are committed to developing the insurance market, including the introduction of innovative and non-standard solutions. The demand for liability insurance for family office managers presented us with a complex challenge, which we embraced with genuine professional enthusiasm. Drawing on our extensive experience and specialist expertise, we brought the concept to market despite its complexity and innovative nature. The result is a unique product that enables managers to transfer part of their exposure to the insurance market and focus on their primary responsibility: managing their clients’ wealth effectively” — said Ivan Eremeev, Managing Director of the Financial Risks and Liability Insurance Department at RC Insurance Broker.
Solutions of this kind help strengthen confidence in the family office management market and support the development of higher professional standards. RC Insurance Broker will continue to expand its work in this area, providing the financial sector with insurance solutions that address emerging risks and current market needs.
