In the quaint and often nostalgic world of sports memorabilia, where enthusiasts and collectors hold treasures of immense personal and monetary value, a remarkable evolution has taken place. Recognizing the unique needs of this passionate community, NFP, a noted property and casualty broker in Canada, has teamed up with Berkley Asset Protection to unveil a comprehensive insurance program crafted specifically for sports memorabilia collectors. This innovative partnership promises to fill the gaps left by standard homeowners insurance, ensuring that collectors can now safeguard their prized possessions with the peace of mind they rightfully deserve.
Greg Dunn, Managing Director of Personal Risk at NFP in Canada, is at the forefront of this exciting initiative. Dunn understands that collectors often make significant financial investments in acquiring high-value sports cards and memorabilia. Standard insurance policies typically fall short in catering to the nuanced needs of such high-value collections, leaving glaring coverage gaps that could lead to substantial financial loss. Nededicated show their deep understanding of what keeps collectors up at night, Dunn proudly introduced a solution that bridges these gaps, bringing relief from the moment an item is purchased—an automatic coverage feature for new acquisitions and an all-encompassing transit coverage are at the core of this specialized insurance scheme.
Olivia Cinqmars-Viau, AVP of fine art underwriting at Berkley Asset Protection, has emphasized the tailor-made nature of this coverage. Crafted delicately to meet the refined tastes and specific demands of collectors, the insurance does more than protect—it recognizes the collector’s journey from passionate enthusiast to guardian of valuable history. Cinqmars-Viau’s role involved ensuring that the final insurance product not only covers financial loss but also respects the sentimental value attached to each piece, thereby aligning perfectly with the collectors’ sentiments and investment-oriented outlook.
The response from the collectors’ community has been overwhelmingly positive, resonating well across forums where memories and money intersect. Steve Menzie, a major stakeholder in this community as president and owner of the Sport Card & Memorabilia Expo—Canada’s largest venue for such collectibles—has acknowledged the significant financial aspect of collecting. Menzie highlighted that while the sentimental value of memorabilia is paramount, it is equally critical to secure the financial value of these items. Given the fragile nature of sports memorabilia, where value can be as volatile as it is vast, having a tailored insurance plan is not just beneficial but essential. Menzie’s endorsement of this program underscores its importance as a support system that helps to maintain not just the collectibles, but also the collector’s peace of mind.
The word about this novel insurance program is set to spread even further during the impending Sport Card & Memorabilia Expo in Toronto, slated for April 25-28. Here, NFP’s Personal Risk team will be on hand, eager to guide collectors, new and seasoned alike, through the nuances of this tailored insurance option. This event promises to be an educational pivot point for many, as they learn how best to protect their investments from unforeseen events.
NFP’s commitment to addressing the distinctive insurance needs of various collector communities is echoed in their robust presence in Canada and beyond, with over 1,000 staff in Canada and more than 8,000 globally. This new initiative is more than just a policy offering; it is a beacon of NFP’s dedication to servicing niche markets with thoughtful, bespoke solutions that resonate deeply with the needs and hearts of collectors.
