NEW YORK, May 23, 2016 /PRNewswire/ -- XL Catlin and A.J. Gallagher today annouced the launch of an exclusive underwriting agreement to offer a lifestyle insurance program for young and new art collectors in New York City. The policy, known as "Five for Five", features five specialized insurance coverages – Fine Art, Jewelry, Wine, Cyber Theft and Identity Fraud – on one simple policy, for an annual premium of $500 with a $500 deductible.
According to Jennifer Schipf, XL Catlin's Fine Art & Specie Senior Underwriter, "XL Catlin is continuosly looking for innovative ways in which we meet the changing insurance needs of our clients. There are so many phenomenal young collectors and artists in New York City, our partnership with A. J. Gallagher and our long standing relationship with the New York Academy of Art provide the perfect network to link new collectors with artists and provide them with a tool to protect their growing collections."
The Five for Five program will initially be available only to young and new collectors in New York City. However, as it grows it is expected to expand coverage to other US cities with established and emerging art scenes.
"Millennials are the fastest growing consumers in the US. They are sophisticated collectors who actively engage in the traditional New York art scene, embrace online purchasing and converge upon the international art markets and fairs.", said Ellen Ross, Managing Director Fine Arts Insurance & Risk Management at A. J. Gallagher. "We look forward to working with this vibrant next generation of art collectors."
XL Catlin provides specialized fine art insurance for galleries, museums, and a range of businesses in the art world, as well as individual collectors, insuring a wide range of collectibles and valuables, from antiques and jewelry to coins and wine collections.
For more information on Five for Five or to submit an application, contact Kyle Stites: Kyle_Stites@AJG.com
About Arthur J. Gallagher Insurance
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 31 countries and offers client-service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.
About XL Catlin Insurance Operations
XL Catlin insurance companies offer property, casualty, professional, financial lines and specialty insurance products globally. Businesses that are moving the world forward choose XL Catlin as their partner. To learn more, visit xlcatlin.com.
About XL Catlin
XL Catlin is the global brand used by XL Group plc's (NYSE: XL) insurance and reinsurance companies which provide property, casualty, professional and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. Clients look to XL Catlin for answers to their most complex risks and to help move their world forward. To learn more, visit xlcatlin.com.
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SOURCE XL Catlin