2026 MARKET TRENDS

Family Office & Ultra-High-Net-Worth

Key Takeaways

Capacity remains tight across high-net-worth markets, yet family offices with strong risk controls, clean loss history and well-organized submissions continue to access preferred terms and broader carrier engagement
Standard carriers are narrowing geographic appetite and limiting total insured values, creating challenges but also opportunities to restructure programs, blend admitted and E&S solutions and optimize placement strategy
Umbrella and excess liability capacity remain constrained due to social inflation and nuclear verdicts
Consolidated household structures, comprehensive risk documentation and well-coordinated submissions improve access to higher limits and expand carrier engagement
Adoption of D&O, E&O and Trustee Liability continues to rise as family offices formalize governance and strengthen fiduciary oversight
Family offices implementing modern cybersecurity controls, social engineering safeguards and coordinated personal cyber programs are achieving improved pricing, broader offerings and stronger carrier support

Family offices implementing modern cybersecurity controls are achieving improved pricing.

Market Conditions

Market conditions for single- and multi-family offices remain challenging heading into 2026, shaped by elevated property losses, tighter carrier appetites and heightened underwriting scrutiny. CAT-exposed regions, including California, Colorado, Florida and the coastal Northeast, continue to see the most pressure, prompting many affluent households and family offices to use excess and surplus (E&S) markets. Standard carriers are limiting geographic capacity, restricting total insured values and tightening renewal guidelines, resulting in higher deductibles and more narrowly worded property forms.

At the same time, family offices with strong mitigation measures, accurate valuations and coordinated risk documentation are securing more competitive options, including selective re-engagement from high-net-worth carriers that have improved profitability in certain high-risk regions.

Liability markets remain pressured by social inflation, litigation funding and significant nuclear verdicts. Family offices with broad auto fleets, watercraft, young drivers or public visibility face heightened scrutiny, often requiring surplus lines umbrellas with higher retentions or conduct-based exclusions. Auto pricing remains influenced by repair costs, supply chain delays and complex vehicle profiles, although driver-safety programs and telematics adoption are improving underwriting outcomes.

Family offices continue to expand their use of management liability offerings, including D&O, E&O and Trustee Liability, as governance structures mature. These programs now address fiduciary oversight, governance disputes, conflicts of interest and oversight of private investments across intricate entity structures.

Cyber programs remain highly active as digital exposure grows. While pricing has softened modestly due to increased carrier participation, underwriting expectations have risen. Multifactor authentication, endpoint detection, privileged-access controls and formal incident response planning are now expected baseline protections. Family offices that implement advanced controls are gaining access to broader cyber programs, improved pricing and enhanced risk-management resources.

Year-to-Year Differences

Market conditions in 2026 are expected to mirror many of the challenges seen in 2025, with continued stress in CAT-exposed regions and persistent pressure on liability lines. A key shift is the deepening reliance on E&S markets as capacity continues to tighten in standard admitted high-net-worth programs. Property performance remains a central focus, and underwriting is expected to stay disciplined, particularly for high-value homes in areas with wildfire, hurricane or hail exposure.

Specialty lines show more variation. Cyber insurance is showing early signs of softening as new entrants expand capacity, while D&O, E&O and Trustee Liability continue to benefit from increased competition and broader product offerings. Umbrella and excess liability markets, however, are unlikely to ease, with pricing, limit availability and underwriting scrutiny consistent with 2025. Overall, 2026 is shaping up as a continuation of current dynamics, reinforcing the need for strong governance, proactive mitigation and coordinated risk-management strategies.

Claims Trends

A rise in complex claims has led many carriers to rely more heavily on third-party adjusters and junior adjusting teams, reducing the concierge-level service historically associated with high-net-worth and family office carriers. As a result, working with a family office insurance advisor who provides strong claims advocacy has become increasingly important for customers navigating large or multi-layer losses.

Geographic & Regional Differences

Rate Outlook

Impacts & Customer Considerations

Ultra-high-net-worth families and family office entities should work with insurance specialists focused on complex risk management and multigenerational wealth protection. A coordinated advisory approach strengthens the family office’s ability to guide members, manage evolving exposures and secure effective insurance solutions.

Integrated risk strategy

Family offices should work with trusted risk advisors to align property, liability, cyber and governance exposures across all entities and family members.

Comprehensive risk review

Annually, a comprehensive risk review should be conducted to help reduce coverage gaps, anticipate emerging risks and coordinate protection across all family members and entities.

Estate and governance alignment

Insurance programs and risk controls should be assessed regularly to ensure alignment with estate plans, governance structures, succession strategies and operating models across generations.

Mitigation guidance

Proactive risk-mitigation measures should be implemented across all family-owned properties to strengthen risk profiles and improve pricing and placement options.

Special collections protection

Family offices should work with specialized insurance advisors to ensure jewelry, watches and other portable collections across all family members are regularly valued and accurately scheduled.

Ongoing monitoring

Following liquidity events, real estate acquisitions, major investments or significant household changes, family offices should work with their trusted insurance team to ensure coverage and protection strategies remain aligned, updated and future-focused.

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