In a world where a Babe Ruth baseball card can set you back by millions, Canadian sports memorabilia enthusiasts can finally sleep a little easier. NFP, a key player in the property and casualty brokerage arena, has teamed up with Berkley Asset Protection to roll out an insurance program specifically crafted for the treasured accumulations of sports collectibles.
This groundbreaking initiative sheds light on a rather underappreciated niche: sports memorabilia collectors who often find themselves with assets worth the GDP of small islands, yet covered by insurance policies scarcely better than a Band-Aid on a broken leg. The typical homeowner’s insurance policy, while well-intentioned, frequently falls short of covering the true value of high-ticket items such as vintage baseball cards, signed hockey sticks, or those sneakers worn by basketball legends during epochal games.
Enter Greg Dunn, Managing Director of Personal Risk at NFP in Canada, bringing not just hope but tangible solutions. Dunn is clearly tuned into the heartbeats of collectors, understanding that items like these are not mere acquisitions; they’re passionate investments, deserving assurance that extends beyond the glass cases they rest in. His initiative promises to mend the gaps with features like automatic coverage for new acquisitions and even transit coverage, ensuring the collectibles are protected not only in one’s abode but also while on the move—perhaps to star at an antique roadshow or a specialty expo.
Olivia Cinqmars-Viau, serving as the AVP of fine art underwriting at Berkley Asset Protection, expounded on the bespoke nature of this new insurance solution. Devised with precision, akin to tailoring a high-end suit, this insurance program fits the unique contours of collectible enthusiasts’ needs. The program not only acknowledges the escalating domain of sports memorabilia collectors but affirms its commitment by enveloping their prized collections in a safety net, meticulously woven to catch a wide array of potential risks.
Then there’s Steve Menzie, the maestro behind Canada’s largest sports collectibles showcase, the Sport Card & Memorabilia Expo. Menzie is more than just an expo organizer; he is a pivotal advocate for secure investment in memorabilia. His endorsement of the NFP-Berkley partnership isn’t just a nod of approval; it’s a loud declaration that while the memories attached to collectibles are priceless, their market value is significantly quantifiable—and worth protecting.
In an era where digital transformation touches virtually all aspects of life, it’s refreshing to see tangible treasures get their due diligence. The warmth of history, the thrill of the chase, the glory of snagging that rare piece—these experiences are as old as time and cherished by collectors. This insurance policy isn’t just a financial safety net; it’s a nod to the legitimacy and importance of collecting as a hobby and investment.
NFP’s Personal Risk team is setting up camp at the forthcoming Sport Card & Memorabilia Expo in Toronto. Scheduled from April 25-28, the team will be on ground zero to unpack this insurance bundle of joy. They will elucidate how this isn’t merely a policy update but a cultural shift towards recognizing and protecting the underpinnings of collecting. This marks a substantial chapter in NFP’s extensive commitment to tailor specialty insurance products that resonate deeply with collector communities, not just in Canada but globally. With over 1,000 staff stationed in Canada and a whopping 8,000 worldwide, NFP’s robust infrastructure is well-equipped to handle this nuanced yet expansive domain.
For the avid collector, this isn’t just about safeguarding a hobby; it’s about affirming a lifestyle. It’s about not having to constantly fret over the ‘what ifs’ that come with owning pieces of history. This program symbolizes a profound understanding of collector needs and a forward-thinking approach to asset protection. It’s a testament to evolving collector landscapes and the perpetual dance between preserving the past and securing the future.