Insurance Protection for PAs, EAs and Family Offices

If you work closely with high net worth individuals, whether as a Personal Assistant, Executive Assistant or within a Family Office, you are trusted with sensitive information, significant financial responsibility and day to day decision making that directly impacts your principal.

Despite this, many PAs, EAs or and Family Offices have limited or no insurance protection in place for themselves or their business often assuming cover is automatically provided elsewhere.

It’s worth taking the time to review what protection you currently have, where the gaps may be, and how the right cover can help protect both you and your principal.

Below is an overview of the key insurance policies available and why they matter.

Public Liability Insurance

Public Liability protects you if you accidentally cause injury to a third party or damage to their property in the course of your work.

• Cover typically starts at £2 million and can increase up to £10 million, or higher if required depending on exposure
• This insurance is always worldwide, which is essential if you travel or work internationally
  For anyone interacting with suppliers, visitors, events or third parties, this cover is fundamental.

Employers’ Liability Insurance

If you employ anyone, Employers’ Liability insurance is a legal requirement.

• This includes permanent staff, part time employees or interns
• If you only engage the services of third party contractors, this cover is usually not required

This policy protects you if an employee suffers illness or injury as a result of their work.

Professional Indemnity Insurance

Professional Indemnity protects you against claims arising from errors, omissions or negligence in the professional services you provide. This can include:

• Administrative or accountancy errors
• Breach of confidentiality
• Use of copyrighted material without permission
• Costs relating to the replacement or restoration of lost or damaged documents or data

Cover levels typically range from £50,000 to £10 million, depending on your responsibilities and exposure.

For PAs, EAs and Family Offices operating in trusted advisory roles, this cover is critical.

Office Insurance (Including Home Offices)

Office insurance protects against damage or theft of business equipment, including:

• Computers and monitors
• Laptops (often with worldwide cover)
• Phones and printers
• Office furniture

Some home insurance policies provide incidental business cover, but this is often limited.

If you’re unsure what protection is already in place, a review of your home insurance policy can identify whether additional protection or where your existing cover can be improved upon.

Cyber Liability Insurance

Cyber insurance is an important policy for PAs, EAs and Family Offices. Given the wealth, profile and privacy of your principal, a cyber incident can lead to significant financial and reputational damage. The most common cyber risks we see include:

• Ransomware attacks
• Fake identity or impersonation fraud, where communications appear to come from your principal, leading to fraudulent payments

In today’s environment, cyber cover is becoming increasingly important.

Travel Insurance

Standard travel insurance may not cover business trips. Some of the policies we have access to offer business travel with incidental leisure cover, helping ensure you are properly protected when travelling for work.

Insurance Considerations for Principals

In addition to the business and professional covers outlined above, there are certain protections that principals themselves may wish to consider as part of their wider personal and family planning. While these policies do not protect day to day operations, they play an important role in long term health, wealth and continuity planning.

• Private Medical Insurance.

This can be arranged on an individual or group basis, with UK only or global cover.

• Life Insurance and Inheritance Tax Planning

Life insurance provides a financial safety net for family members and dependants in the event of death. Benefits include a tax free lump sum or regular income to beneficiaries if death occurs during the policy term. When structured appropriately, it can play a key role in inheritance tax planning and is an area of protection often overlooked – yet forms an important part of long‑term planning for principals and their families.

While these policies sit outside the core business protection for PAs, EAs and Family Offices, they are often part of wider conversations around personal risk management and long‑term planning for principals.

Final Thought

Your role carries responsibility, discretion and risk. Having the right insurance in place protects you, your business and your principals, allowing you to operate with confidence.

To speak to Howden about the insurances you have in place for your business call Suzi Rackley on 07969 033563.