In a world where the value of a single card or jersey could easily rival that of a small car, Canadian sports memorabilia collectors have long navigated the murky waters of insurance with trepidation. However, the horizon looks much clearer now, thanks to NFP, a key player in the property and casualty arena, launching an insurance program tailored specifically for such treasures. This move, a result of their partnership with Berkley Asset Protection, is a game changer in a field that often sees significant financial investments left in vulnerable conditions.
Greg Dunn, the Managing Director of Personal Risk at NFP in Canada, sheds light on this innovative offering. Imagine investing in an exceedingly rare sports card—say a vintage Babe Ruth that whispers tales of baseball’s golden days—only to find out that your standard homeowner’s policy barely scratches the surface of its true worth. This was the puzzle facing collectors, a puzzle Dunn and his team are addressing. The NFP initiative steps up to the plate, promising a robust insurance coverage that kicks in from the very moment a new acquisition is made—a decisive home run for collectors.
For those who spend hours, if not days, scouting for precious additions to their collections at auctions or private sales, the anxiety of ensuring their safe transit home is palpable. With the new insurance program, coverage extends to these critical moments as well, ensuring that the journey of a newly acquired memorabilia from auction floor to display case is secured against the unexpected.
Olivia Cinqmars-Viau, the AVP of fine art underwriting at Berkley Asset Protection, brings her insights into the meticulous crafting of this bespoke insurance program. It’s clear from her retrospection that every stitch of the policy is woven with the collector in mind, highlighting their nuanced needs and the irreplaceable value of their items. This isn’t a one-size-fits-all affair but a tailored suit, designed to elegantly dress the specificities of high-value sports cards and memorabilia collections.
Steve Menzie, the president and owner of the Sport Card & Memorabilia Expo, Canada’s largest gathering for sports collectible enthusiasts, casts his vote of confidence in this new insurance solution. His perspective is rooted in years of watching collectors grapple with the financial and sentimental worth of their holdings—a duality that often complicates the insurance process. Now, with Berkley and NFP stepping into the arena, collectors can breathe easier, focusing on their passion rather than potential pitfalls.
Adding to this, Dunn notes the strategic presence of the NFP’s Personal Risk team at the upcoming Sport Card & Memorabilia Expo in Toronto. While collectors meander through rows of pristine displays and rare finds, experts from NFP will be right there to discuss how this new offering can safeguard their prized collections. It’s a proactive approach seldom seen in the collectibles field, reflecting NFP’s broader commitment to enhancing customer experience and security.
The initiative goes beyond just filling a market gap; it represents a deep-seated understanding of collector needs and the evolving market trends. NFP, employing over 1,000 staff in Canada and reaching over 8,000 globally, is attuned to the nuances of personal risk—a testament to their expertise and expansive approach.
For the Canadian sports memorabilia collector, this specialized insurance program is more than a new service—it is a critical tool, intricately designed to protect not just the financial investment but also the emotional value attached to each piece. As this coverage rolls out, the landscape of collecting is set to shift, letting enthusiasts focus more on expanding their collections and less on mitigating their risks. A bold new chapter for collectors, the program promises peace of mind in knowing that their legacies and passions are secured under the watchful eyes of industry experts.
