Distinguished Programs, a leading insurance program manager, has announced a substantial enhancement to its Fine Art and Collectibles program, set to take effect on January 1, 2024, pending state filing approvals. The program will now offer an impressive $100 million capacity limit for single risks within the United States.
This notable increase in capacity is strategically aimed at addressing existing gaps in coverage options and is poised to provide clients with enhanced financial protection. The Fine Art and Collectibles program by Distinguished Programs is renowned for its flexibility, offering both primary and excess risk coverage to ensure bespoke solutions that cater to diverse needs.
Patrick Drummond, President of the Fine Art & Collectibles group at Distinguished, underscored the company’s dedication to delivering a seamless solution for insuring fine art and collectibles. He affirmed, “This expanded $100 million capacity reinforces our pledge to assist agents and brokers in delivering expertise and exceptional service, ensuring their clients enjoy true peace of mind.”
The Fine Art & Collectibles program by Distinguished exhibits a broad appetite for risk, extending coverage to various sectors including museums, corporate collections, dealers, private collectors, artist foundations, and more.
Clients engaging with the program can anticipate an array of benefits, including flexible payment options, streamlined claims handling, and expert advice on best practices for collection management.
Presently accessible in 48 states, Distinguished Programs has outlined plans to extend coverage to all 50 states, pending regulatory approval. This expansion reaffirms Distinguished Programs’ commitment to providing comprehensive and tailored insurance solutions for the diverse needs of the fine art and collectibles sector.
