In the realm of Canadian collectibles, where passion meets investment, a groundbreaking insurance program has arrived, tailor-made for the enthusiasts of sports cards and memorabilia. This innovative initiative is the brainchild of NFP, a leading property and casualty broker, who in partnership with Berkley Asset Protection, has crafted a comprehensive insurance solution aimed at safeguarding these often pricey and sentimental acquisitions.
Sports memorabilia collection, more than just a hobby, has morphed into a significant investment avenue. As the financial stakes attached to these collections climb, the risk associated with their potential loss or damage becomes a pressing concern—one inadequately addressed by typical homeowner’s insurance policies. Recognizing this, NFP’s new program is set to fill the conspicuous gaps left by standard insurance offerings, providing a much-needed safety net from the moment of acquisition.
Greg Dunn, the Managing Director of Personal Risk at NFP in Canada, underscored the critical nature of this insurance program. According to Dunn, collectors who invest heavily into acquiring valuable pieces can now rest easy, knowing that their new treasures, as well as those in transit, are automatically covered. This detail-oriented approach ensures that both newly added items and those already in the collection are equally protected, offering comprehensive peace of mind to the collectors.
Detailing the customer-centric approach of this insurance offering, Olivia Cinqmars-Viau, AVP of fine art underwriting at Berkley Asset Protection, shed light on the bespoke nature of these policies. Designed with the collector in mind, each policy is crafted to address the unique concerns and needs inherent to the world of sports memorabilia. This personalized strategy acknowledges the burgeoning class of memorabilia collectors, ensuring robust safety measures envelop their valuable assets.
The endorsement of this initiative by Steve Menzie, president and owner of the Sport Card & Memorabilia Expo—Canada’s largest show of its kind—marks a significant nod to the program’s relevance and necessity. Menzie highlighted an often-overlooked aspect of collecting: while these items are sentimentally invaluable, their financial worth is equally considerable. Through this partnership between NFP and Berkley, collectors will now have a reliable avenue to secure not just their emotional investment but also their financial one.
Set to be showcased at the upcoming Sport Card & Memorabilia Expo in Toronto, this initiative will be introduced in detail to the community it aims to serve. From April 25-28, NFP’s Personal Risk team will be on-site, ready to enlighten collectors on the myriad benefits of this new offering. This initiative represents a broader commitment by NFP to cater to the distinctive needs of niche markets. With a robust presence in Canada, employing over 1,000 staff and more than 8,000 globally, NFP’s focus on specialized insurance solutions demonstrates their holistic approach to client service across diverse sectors.
As the landscape of collective investing continues to evolve and expand, the introduction of such tailored insurance solutions will play a pivotal role in its sustenance and growth. Collectors, new and seasoned alike, now have a tool at their disposal that not only protects but also respects the worth of their collections. This blend of passion for collectibles with the practicalities of financial management marks a mature step forward for the collector community across Canada.