White Oak launches fine art unit

Lloyd’s specialist underwriter White Oak Underwriting Agency (WOUA) has appointed Patricia Watling as jewellery and fine arts underwriter as it launches a specialist fine art, classic car and general specie capacity aimed at both the private and commercial markets.

Watling has 25 years’ experience in the insurance industry, working with Blackwall Green (Heath Lambert) and RFIB Special Risks. She has held full binding authority from Underwriters at Lloyd's since 1999.

“I am excited to be involved in launching this new capability and capacity within this niche and specialities sector,” said Watling. “The market for classic cars in particular is very robust, with auction houses reporting record sums for rare and unique models. It’s not unusual for sums in excess of £1 million to change hands for vehicles of exceptional provenance, and naturally owners of such vehicles will want the security of knowing they are properly insured with specialist cover.”

John Shepherd, WOUA managing director added: “We are expanding our global sphere of operations and our international market penetration reflects the fact that White Oak Underwriting is one of the few international underwriters which can respond to current global demand in this specialised insurance arena.”

WOUA will be adding additional classes of business throughout the year.