Specie market on hook for Perelman losses; report

The fine art and specie market could be hit with a claim in the region of between $50m and $100m after a fire at the end of September at the East Hamptons home of billionaire investor and art collector Ron Perelman, according to Inside Fac. At the time the fire was reported as confined to…

Liberty Specialty Markets boosts specie capacity globally

Liberty Specialty Markets (LSM), part of the Liberty Mutual Insurance Group, has increased its capacity for fine art and specie risks to $250m globally. Liberty Specialty Markets’ Head of Marine Mike Burle said that “this is about investing in our fine art and specie book in order to elevate our platform and expand our global…

LSM begins Fine Art & Specie underwriting in Germany

Liberty Specialty Markets (LSM) is to begin underwriting Fine Art and Specie in Germany. It has appointed Ulrike Janvier as Senior Underwriter – Fine Art and Specie. Janvier will be based in LSM’s office in Cologne and will report to David Saillen, Head of Fine Art and Specie for Continental Europe, and also to Wolfgang…

AEGIS London launches pilot for fine art and jewellery in Australia

AEGIS London is to pilot a new fine art and jewellery product in Australia, to be distributed via its OPAL online quote-and-bind platform. The product, led by AEGIS London’s class underwriter for specie Ian Seakens, will be available initially through Western Australia-based Quantum Underwriting Agencies. If the product proves successful, it will be rolled out…

LSM begins Fine Art & Specie underwriting in France

Liberty Specialty Markets (LSM) has begun underwriting Fine Art and Specie in France. Stéphanie de Montricher has been named by LSM as Senior Underwriter for Fine Art & Specie. Stéphanie De Montricher will report to David Saillen, Head of Fine Arts & Specie for Continental Europe and also Didier Robin, Vice President, Head of Property…

Cat losses in 2017 helped loss-affected marine cargo: Willis Towers Watson

Natural catastrophe-affected marine cargo business was a pocket of significant hardening within the primary insurance market this year, according to the recently published Willis Towers Watson’s Marketplace Realities GB report. “The unprecedented costs of two Category 4 hurricanes making US landfall, significant hurricane damage throughout the Caribbean, devastating wildfires in California and earthquakes in Mexico…

Liberty’s French operation to add specie and to increase headcount

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance, is to add four new lines of business, including fine art & specie, to its product roster. It will also increase the size of the French team. Speaking at the AMRAE risk managers’ conference in Marseille, France, Kadidja Sinz, LSM’s Head of Continental Europe, confirmed that…

New fine art & specie underwriter at XL Catlin

XL Catlin has named Farzina Coladon as Underwriter, Fine Art and Specie (FAS) in Canada. She will be responsible for underwriting fine art, jewellers block and general specie insurance across Canada. Based in Toronto, Coladon joined XL Catlin on November 6th. Nick Greggains, CEO and country manager for XL Catlin, Canada, said: “Farzina’s appointment further…

Cash payment of wages incurs unnecessarily high costs

Shipping companies are paying out unnecessary high costs by continuing to pay seafarers with cash, claimed financial services provider ShipMoney at the ACI HR and Crew Management Summit in London. EVP Greg O’Connell said that an average fleet of 50 ships would see shipping operators spending nearly $500,000 in delivering cash to vessels, as the…

Liberty appoints Paul Seip to launch fine art and specie in the Netherlands

Liberty Specialty Markets (LSM), a part of Liberty Mutual Insurance Group, is to begin underwriting Fine Art and Specie in the Netherlands with the appointment of Paul Seip as Senior Underwriter – Fine Art & Specie. Based in LSM’s office in The Hague, Sep will report to David Saillen, Head of Fine Arts & Specie…