August 25, 2026
The UK has a long history at the heart of the international art trade. In 2025, it was the world’s second-largest art market, accounting for 18 per cent of global sales by value.
While museums and galleries are obvious locations for fine art, collectables and other high-value assets, Fine Art and Specie is a growing market.
Homes, corporate headquarters, boutique hotels and even sports clubs are among the many other places where Fine Art and Specie items are being collected, displayed and stored.
For brokers, this creates a broad and diverse range of clients and potential exposures. It also underscores why specialist insurance is needed to ensure that Fine Art and Specie assets are adequately protected.
Fine Art refers to valuable paintings, drawings, sculptures, prints and photography. It also includes collectable items whose value may derive from their rarity, provenance or cultural significance.
Specie generally relates to high-value assets like cash, coins, bullion, precious metals and precious stones.
Increasingly for brokers, Fine Art and Specie exposures are spanning a broader range of clients.
Corporate clients, for example, may display valuable artwork or trophies at their headquarters or offices. Sports organisations, private members’ clubs and boutique hotels also hold art collections, sporting memorabilia, historical photographs and documents.
High-net-worth individuals may have private collections at home or in storage. These can range from art and antiquities to classic vehicles, whisky, fine wine and coins. Clients may also require cover for temporary exhibitions or events.
Although Commercial Combined policies can provide appropriate protection for many of a business’s day-to-day assets, Fine Art and Specie items present specialist exposures that standard policy wording, limits and valuation methods may not adequately address.
These include
Commercial Combined policies may settle claims based on an item’s depreciated value, rather than what it is currently worth.
The challenge is that the value of artwork and collectable items can change significantly over time. In this instance, specialist Fine Art and Specie insurance can provide cover based on an agreed or current market value.
Such a policy can also account for increases in value, restoration costs and any loss in value an item suffers after being damaged and repaired.
Unlike Commercial Combined policies, specialist Fine Art policies can also provide wider protection for damage and restoration costs.
This is important because fire, theft and flooding are not the only risks that valuable artwork and assets are exposed to.
Accidental damage can also occur while items are being handled, hung, moved or displayed at an exhibition
Specialist Fine Art policies can provide protection while items are in transit, including ‘nail-to-nail’ cover from removal through to reinstallation.
This can be particularly important where artwork and other valuable items are regularly moved between galleries, exhibitions, storage facilities and clients’ premises.
High-value specie items such as coins or precious stones can also have specific security requirements when being transported or stored.
While Commercial Combined policies may impose low limits or exclusions, specialist insurance can provide protection where large values are held in one location, or if an item goes missing without explanation.
Similarly, Commercial Combined policies may place restrictions on the amount that can be claimed.
The benefit of a Fine Art and Specie policy is that it can provide higher limits tailored to the value of individual items or entire collections.
This includes where multiple assets are held together, for example, at an exhibition, warehouse or storage facility.
Importantly, Fine Art and Specie insurance provides clients with access to the specialist expertise that is needed when handling claims.
This includes art conservators, restoration specialists, auction and valuation experts and specialist logistics companies to help ensure losses are managed appropriately.
Ultimately, the specialist nature of Fine Art and Specie assets requires an equally specialist approach to insurance.
At Fiducia MGA, we can help brokers understand risks and arrange appropriate cover for SME operations, including private collections, exhibitions, dealers and precious metals.
Fiducia MGA’s standard Fine Art and Specie offering provides limits of up to USD10m, with higher limits available upon request and subject to risk acceptance criteria.
It can be accessed by our broker clients through their existing Terms of Business Agreement with us.
Brokers can also contact our Fine Art and Specie development underwriter, Mike Hall, who will be happy to discuss your risks and offer appropriate solutions at competitive prices.
Contact Mike on:
Telephone: +44 113 831 4333
Mobile: +44 7543 192 310
Email: mike@fiduciamga.co.uk
Learn about our Fine Art and Specie cover here.
