The Fine Art & Collectibles Program addresses the need for private, corporate, commercial and institutional collectors to protect their valuable assets.
PRODUCT: The Tokio Marine Highland Fine Art & Collectibles Insurance Program
COMPANIES: Tokio Marine Highland is a wholly owned company of Tokio Marine Kiln. The carrier is Philadelphia Insurance Companies.
BEST RATING: A+
AVAILABILITY: Available on an open-brokerage basis
FOCUS: Since 1962, Tokio Marine Highland has built an expertise in serving niche, specialty insurance markets, such as private flood, lender-placed insurance and builders risk. This new product line continues that tradition by complementing the innovative products and services offered to those distinct markets with hard-to-place risks.
While Tokio Marine has offered this product line internationally through their London subsidiary, Tokio Marine Kiln, it moved into the U.S. marketplace with a tailor-made domestic product from Tokio Marine Highland.
“Tokio Marine Highland enters the market with an industry-leading team of highly qualified and experienced insurance and art insurance specialists," says Christiane Fischer, president, fine art division, Tokio Marine Highland. “Our focus is cemented in our mission to provide best-in-class service to our brokers and their clients. With a $100 million per risk capacity, we offer our products and services to small and large collections alike."
COVERAGE DETAILS: The Tokio Marine Highland Fine Art & Collectibles Program addresses the need for private, corporate, commercial and institutional collectors and collections to protect their valuable assets. The products are all risk with worldwide coverage, low or no deductibles, and are filed and admitted in all states.
In addition to several coverage extensions and limited exclusions, key coverage highlights include worldwide coverage, transit and named and unnamed locations. Private collections include an automatic coverage increase of 25% of policy limit with a 90-day reporting requirement and scheduled and unscheduled blanket coverage options.
UNDERWRITING: Each risk is underwritten to provide the specific coverages needed.
TARGET: Private collections, museums, exhibitions, galleries, dealers, auction houses, conservators and artists.
COVERAGE TERRITORY: Worldwide
COVERAGE AVAILABILITY: All states for commercial and all states for personal. Availability is pending approval in New York and Florida.
CONTACT: Christiane Fischer, president, fine art division, Tokio Marine Highland; 444 W. Lake St., Suite 1950, Chicago, IL 60606; 917-561-2992.
Will Jones is editor-in-chief.
