Zurich modernizes Trust Protector Policy to simplify coverage for financial institutions amid the Great Wealth Transfer
As trusts gain momentum, Zurich's updated master trust coverage helps banks, wealth managers and fiduciaries insure trust-held real estate with less complexity, greater consistency.
SCHAUMBURG, Ill., April 1, 2026 /PRNewswire/ -- Zurich North America has updated its Trust Protector Policy (TPP) to help simplify how banks, wealth managers and other financial institutions insure properties held in trust, a growing trend amid what is being called "the greatest wealth transfer in history."
Baby Boomers are driving growth in estate planning as they are projected to pass down $84.4 trillion to heirs and charities by 2045. Many affluent Americans are gaining awareness of trusts and using them for potential tax benefits and other perceived advantages, which is fueling expansion of service offerings. The estate planning services market, estimated at $1.26 billion in 2025, is projected to nearly double to $2.43 billion by 2034.
To simplify asset protection, Zurich has updated the master trust insurance solution it has offered financial institutions for more than 20 years. The refreshed policy is available for multistate residential, commercial and farm properties held in trust, bringing them together under a single master policy with consistent coverage terms and aligned expiration dates.
"We are seeing our financial institution customers begin to position themselves for the Great Wealth Transfer via organic growth or acquisitions in the wealth management and trust space," said Trey Martino, Head of Financial Institutions and Professional Services for U.S. Middle Market at Zurich North America. "Our updated Trust Protector Policy reduces complexity for trust teams by streamlining policy forms, providing increased per-location limits and tailoring coverage needs for the next generation of beneficiaries. We're also increasing the product's geographic reach and breadth for our financial institution customers that may have properties in many states."
Built for a changing trust landscape
Zurich was among the first insurers to offer a master trust structure in the U.S. market. The updated policy integrates key coverage enhancements directly into the base form, refines catastrophe treatment and aligns rating with current exposures — all while preserving the master policy structure trust departments rely on to manage large, diverse portfolios.
"Zurich was one of the first to bring this type of solution to market," Martino said. "But the environment has changed. Trust portfolios are larger, more geographically dispersed and more exposed to catastrophe risk. Financial institutions want broader geographic capabilities and more consistency in coverage, and that's exactly what this update delivers."
The Trust Protector Policy is designed for any organization with a trust business and fiduciary responsibility, including banks, wealth managers, family offices and professional services firms that have expanded into trust administration.
"This update addresses a broader societal shift," said Stan Bernard, Head of Industry Practices for U.S. Middle Market at Zurich North America. "Trust structures have historically been a core bank offering, and they will continue to be. But as wealth management expands, trust responsibilities are showing up in new places. Our updated Trust Protector Policy reflects how financial institutions are evolving to meet that demand."
Intentional modernization in a legacy market
The trust protector market has long been served by a small number of carriers. Zurich's update includes key enhancements. In sum:
- A single master trust policy covering eligible residential, commercial and farm properties held in trust
- Coverage enhancements embedded into the base form, reducing reliance on manuscript endorsements
- Modernized policy language for greater clarity and consistency
- Updated rating methodology aligned to current property values and exposures
- Refined catastrophe treatment, with coverage evaluated on a per‑location basis
- Expanded nationwide capability, supporting multistate trust portfolios under one policy structure (subject to state filings)
The policy provides admitted property and general liability coverage and is administered through Zurich's designated program administrators.
Part of a broader Financial Institutions strategy
Trust Protector Policy is designed to complement Zurich's broader Financial Institutions offering, which spans property and casualty, financial lines, cyber, construction, accident & health and multinational programs.
"When we sit down with a financial institution, we're looking at the full picture," Martino said. "We can support the entire risk profile, domestically and globally. Our Trust Protector Policy is often the starting point, but the relationship often grows as our customers learn about the breadth and depth of our capabilities and how that can simplify their overall insurance program."
The updated Trust Protector Policy is available for new business and renewals.
SOURCE Zurich North America
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