PRODUCT: Collections management services

COMPANY: Chubb Group of Insurance Companies

BEST RATING: A++ (Superior)

AVAILABILITY: Chubb-appointed agents and brokers

FOCUS: In order to cater to the unique risk characteristics of affluent clients, Chubb has developed Signature Suite—a collection of enhancements that extend client service beyond a simple policy. The collection includes amenities such as travel assistance, personal and household security tools and the advice and expertise of an in-house team of fine art and collector specialists across the country.

Now, Chubb is expanding the Signature Suite of services to include two different collection management systems that clients can elect to purchase to help catalogue and manage their private collections such as jewelry, fine arts, historical artifacts, antiques, wine, stamps, coins or other valuable collectibles, explains Maria Cordeiro, customer services manager for Chubb Personal Insurance. Both platforms are available at a discounted rate to Signature and Signature VIP customers only.

Cordeiro believes selection comes down to individual preference. “Both tools are state of the art, with similar functionality,” she says. “But we wanted to offer both options because it gives clients the choice and control they expect.”

ArtBanc International offers valuation and research services; an individually assigned ArtBanc specialist who provides assistance with uploading and digital file maintenance; valuation for insurance, lending, estate, sales and gifting; research and cataloguing; and estate planning and wealth transfer strategies. Collectrium allows upload of digital files, including spreadsheets, invoices, condition reports, appraisals, insurance policies and photographs; the ability to add supplemental information including artist biographies and auction price history; an individually assigned Collectrium representative who can assist with upload and file organization; and an app for iPhones and iPads. Cordeiro highlights Chubb’s specialization in collectables, noting the company offers some of the nation’s broadest coverage in fine arts.

“These collection management systems augment an already strong policy enhancement package,” she says. “Clients have always had access to our in-house experts, and we have a fully-vetted list of suppliers to help them with any detail of their collection—from display, conservation and restoration to shipping and storage. But the ArtBanc and Collectrium offerings are an important addition. After all, truly comprehensive protection starts with maintaining accurate records—and with these new tools, that just got easier.”

UNDERWRITING: Signature and Signature VIP clients, as well as other customers who purchase Chubb’s Valuables Articles policy, will receive all-risk coverage for most causes of loss, with no deductible. Unique coverage details include:

• Automatic coverage for breakage of fragile items at the Masterpiece value level
• Automatic coverage for misplaced, lost or stolen items, sometimes referred to as “mysterious disappearance”
• If a policy includes itemized jewelry or fine art, automatic coverage for any newly acquired similar items for 90 days (up to 25% of the total itemized coverage for similar articles)
• If an itemized piece is found to have higher market value following a loss than the amount listed on the policy, payment up to new market value (up to 150% of the amount of itemized coverage for that article, but not more than the maximum amount of coverage)

MINIMUM PREMIUM: N/A

TARGET: Collectors of fine art, jewelry and other valuables.

COVERAGE TERRITORY: All 50 states.

CONTACT: Maria Cordeiro, customer services manager for Chubb Personal Insurance; Chubb Group of Insurance Companies, 15 Mountain View Road, P.O. Box 1615, Warren, NJ 07059; 908-903-4165.

Amy Skidmore is an IA contributor.