In a world where nostalgia is as valued as the items that evoke it, Canadian sports memorabilia collectors have hit a home run with the introduction of a specialized insurance program designed just for them. In a strategic move, NFP, a heavyweight in the property and casualty brokerage arena, has teamed up with Berkley Asset Protection to tailor a unique insurance package that recognizes the unique needs of those holding prized sports collectibles.
Historically, the insurance woes of memorabilia collectors have often revolved around the inadequacies of standard homeowners policies. These policies typically cover the structure of a home and the general contents but fall incredibly short when it comes to unique collections that not only carry substantial market value but also deep personal significance. Enter Greg Dunn, Managing Director of Personal Risk at NFP in Canada, who has clearly identified the gap and aims to fill it with this novel offering. According to Dunn, this isn’t just about financial security—it’s about peace of mind, knowing that your cherished collection is protected from the moment it becomes yours.
The brilliance of this new insurance program isn’t just in its intent but also in its details. It automatically includes transit coverage and provides immediate coverage for new acquisitions, meaning that the new treasures you bring home from auctions or trades are protected from the get-go. Such meticulous attention to coverage ensures that the gap between acquiring a valuable item and getting it insured, which often poses a significant risk, is effectively closed.
Olivia Cinqmars-Viau, AVP of fine art underwriting at Berkley Asset Protection, conveyed similar sentiments about the initiative, emphasizing the custom nature of the plan. It’s crafted to specifically cater to the passions and preferences of serious collectors, acknowledging them not as mere hobbyists but as custodians of valuable artifacts.
The program isn’t just catching the eyes of insurance brokers and underwriters; it’s also grabbing the attention of those at the heart of the sports memorabilia community. Steve Menzie, president and owner of the Sport Card & Memorabilia Expo—the largest event of its kind in Canada—has thrown his weight behind the new initiative. He underscores a vital point that while many collectors acquire items out of passion, the financial dimension of these assets cannot be taken lightly. Menzie’s endorsement is noteworthy as it speaks directly to the community most impacted by this program, reassuring them of its benefits and reliability.
For those eager to jump on this safety net, the NFP’s Personal Risk team plans an in-depth showcase of the insurance offering at the upcoming Sport Card & Memorabilia Expo in Toronto. Scheduled from April 25-28, this expo will serve as the perfect backdrop for unveiling the features and benefits of this comprehensive coverage.
This venture is part of a larger framework under which NFP operates, offering tailored insurance solutions to niche markets. With a robust workforce of over 1,000 in Canada and more than 8,000 globally, NFP is not just responding to market needs but anticipating them, demonstrating profound knowledge and respect for the collector’s domain.
Hence, as collectors continue to pursue their passion for accumulating and preserving sports history, they now have a robust defense against potential losses. This insurance initiative not only reinforces the value of their collections on paper but also fortifies their emotional investment with an extra layer of security. With such specialized protection, Canadian sports memorabilia collectors can look forward to a future where both their hearts and their portfolios are well safeguarded.
