Fine arts in focus

April 11, 2024

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By Nicolas Lazarus, EGA, Latin America & Caribbean Regional Hub Office; Frederico Nitzsche, Senior Loss Adjuster (MCL), Global Programs Leader, Fine Arts/Specie Specialist and Restoration Expert (MoMA), Member of CAMES SMAC (Int. Fine Arts Arbitrator), BLaw, PDGM and ACCT., Sedgwick do Brasil Ltda.; Ian Preston, Senior Loss Adjuster, Sedgwick Mexico, S.C

How do you put a price on priceless art and objects?

This is precisely the mission for Sedgwick’s fine arts and specie experts and adjusters in Latin America and the U.S. This unique area of our major and complex loss division requires experts who know the kinds of questions to ask, documentation to request and instincts to follow.

Sedgwick’s team in Latin America and the U.S. includes executive adjusters and specialists with decades of experience in the market. Paired with our global resources and complementary capabilities within other insurance disciplines, this team is unparalleled in meeting the needs of the fine art and specie market.

Local expertise and exceptional trust: the keys to success

Fine art and specie claims are broad in scope and can encounter unexpected twists and challenges. In Latin America and the U.S., our team most frequently works with losses including:

  • Fine art claims — from water, fire and hurricane damage to individual works or collections, and damage to works of art, sculptures, objects, and antiquities in transit or during public display. 
  • Jewelry claims, including counterfeit and aftermarket claims to jewelry and timepieces.
  • Theft claims involving fine art, jewelry, vault robbery, and cash-in-transit and the team has even traced and resolved mysterious disappearance cases for works of fine art. 

One way our experts establish trust is through their longtime, local-market expertise. The team of adjusters brings more than a decade of experience to the market. Their multilingual skills and knowledge of local issues, cultures and regulations make interfacing between local networks and global resources much more efficient.

Interdisciplinary resources: an industry-leading approach

Claims in the fine art and specie sector require adjusters to have diverse expertise across a variety of disciplines, in addition to loss adjusting. Our fine art and specie experts bring years of multidisciplinary experience to each claim they handle, including the following:

  1. Art restoration: It can take an artist’s eye to fully understand a work of art, sculpture, or precious object – not just how to insure a piece, but how to protect it and restore it if the claim involves damage. Our Americas team includes an adjuster who is also a working artist with a deep knowledge of artmaking and art restoration practices. 
  2. Risk surveys: Many fine art clients require a deeper understanding of risks before they happen. Our Americas team has worked with art industry business clients to conduct in-depth and bespoke risk surveys to better understand – and help mitigate – risk for museums and galleries, private residences, retail or wholesale jewelry dealers, jewelry factories, banks, vaults, and armored couriers of valuable items. 
  3. Marine: Fine arts is an area of insurance that is global in scope. Many claims involve damage or theft incurred during the transportation of valuable items, oftentimes internationally, overseas or through ports. Enter Sedgwick’s marine specialists, who collaborate with our fine art team to investigate these claims seamlessly.
  4. CAT: Latin America and the U.S. experience a broad range of weather patterns, from floods, earthquakes, and fires in Latin America, to hurricanes and earthquakes in the southern U.S. and the Caribbean. When an unexpected disaster strikes, a quick response can make the difference between protecting or restoring valuable art works and experiencing irreparable damage or loss. Sedgwick’s fine arts experts work closely with its CAT team to find solutions in a timely manner in the event of weather or fire.

In an industry built on trust, fine art and specie claims require careful handling by the right professionals. The fine art and specie practice around the globe is prepared to handle a wide variety of claims involving priceless, valuable, and rare pieces.

Learn more > explore our fine arts and specie brochure and connect with the LATAM and U.S. team of experts:  [email protected][email protected] [email protected].

Tags: adjusters, Adjusting, Damage, Fine art, Major + complex loss, major and complex loss, marine, MCL, Property, Property claims, Property damage, Property loss, Restoring property, Risk, theft, United States