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Personal Lines Insurance
Tuesday, April 1, 2008
Artful assistance

The South African Antique Dealers Association (SAADA) has appointed Artinsure as its specialist insurance product provider of benefits previously available only in Europe and the US.

“Antique dealers have a need for world-class insurance benefits,” explains Gordon Massie, MD of Artinsure, which business is underwritten by Hollard Insurance.
Antiques can rarely be replaced, which makes specialist insurance cover important, combined with expert evaluation and risk management services.
Krisen Govender, head of Hollard marketing and communications says, “The identification of specific market needs and the design of products to meet them is an absolute focus for Hollard. We are committed to this approach of specialist product provision and we are delighted to strengthen our partnership approach in this deal with Artinsure – and by extension the members of SAADA.”
President of SAADA, Jeremy Du Mughn, says “As a body it is our role to set trading standards to reflect the professionalism of the antique trade. We also seek to ensure that our members gain benefits from abiding by these standards. We are very pleased to have concluded this arrangement with Artinsure and look forward to many years of mutual benefit.”
Massie explains that there have been gaps in the financial protections available to South African antique dealers, which are readily available to their international counterparts.
“Our challenge was to provide insurance that goes way beyond conventional theft policies. For example, we recognise the augmented value of pairs and sets and provide true depreciation recognition following insured damage. Other examples include: a buy-back choice if an item is recovered after payout has been made; defective title cover when ownership is in question as well as temporary storage cover and automatic cover for new acquisitions.”
The unique stock of dealers, says Massie, also need to be insured when en route to fairs and exhibitions or in transit for any other purpose. “Making the trading and business life of dealers easier and safer is our goal, which is why, for instance, we offer entrustments and consignment cover. With Hollard as a partner and underwriter, SAADA members can be certain that their unique insurance needs will be covered with Artinsure.”
 

Copyright © Insurance Times and Investments® Vol:21.3 1st April, 2008
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