HNW market seeking more guidance, says Ecclesiastical
Some 67% of high-net-worth collectors want more art and collections risk guidance from their insurer or insurance broker, which presents an opportunity for brokers, according to research by Ecclesiastical.
The provider’s survey of 250 UK HNW individuals who invest in art, and other collectibles, found the majority had experienced a loss or damage during the past 12 months.
More than half said at least one item from their collections had been hit by escape of water and burst pipes (52%) and damage in transit (52%). Similarly, more than half reported suffering accidental damage (51%), and malicious damage and vandalism (51%).
InvestmentsThe research pinpointed accidental damage (73%) and theft
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