Beazley expands product offering in mainland Europe

Specialist insurer Beazley has expanded its offering in mainland Europe with the launch of a suite of cover for fine art and jewellers’ block in France.

Ariane Roux-Pagès, Beazley's lead underwriter for the products in France, has created a suite of products specifically designed for the French market, working closely with syndicates and intermediaries in Lloyd’s and other global markets.

Roux-Pagès has more than 12 years of experience as a broker in Paris. She joined Beazley’s Paris office in 2019 to develop the offering.

The new offering provides tailored policy wordings for dealers’ stock, museums and exhibitions, auctioneers’ stock, private collections, and jewellers’ block.

The cover will be available on a worldwide basis and includes all risk damage to objects, transport and exhibitions, terrorism and natural catastrophe events, and title deed default.

Roux-Pagès said: “The fine art and jewellers’ block sector is changing significantly as galleries, dealers and collectors adapt, as other industries have, to the ease and efficiency of the online marketplace. While digital technology has enabled many businesses to keep trading in 2020 when social distancing forced many to close their doors, it has also accelerated the globalisation of this sector and exacerbated the challenge to many, often smaller, organisations to survive.

“With these major changes, clients face new risks in security, data sharing and privacy in addition to the traditional risks associated with transporting, storing and selling precious goods. Our new offering is designed to provide tailored cover that grows with the evolving needs of this diverse and specialist sector.”

Simon Aitchison, Beazley’s global head of jewellery fine art and specie, said: “There is no such thing as a typical risk in this market and it is therefore essential we build trusted, long-term relationships with both brokers and clients to really understand what cover they require. Our underwriters, supported by our highly skilled claims team, share a commitment to providing first-class client services combined with technical expertise for a wide variety of clients from exhibition organisers, museums and galleries through to private collectors and auction houses.”