Specie

Specie is a long-standing Catlin account and we have established underwriting teams in London who specialise in this field.  Specie insurance covers valuable property against physical loss or damage whilst it is in storage or transit anywhere in the world.

A concise guide recently prepared by the Catlin Specie team explains the coverage that is provided by specialist fine art insurance policies, the most common causes of loss relating to fine art and what happens when a claim is reported. Find out more

We also have the ability to write Specie coverage via our expanding network of expert underwriters in international locations including Europe, Canada, Asia, Australia and the US.

Specie risks

Specie is a moral hazard-exposed class so a key underwriting consideration is the integrity, management and risk management of the insured. We also focus on the crime rate within the environment that the assured is working in.

We are particularly focused on the art and jewellery trades, the armoured car industry and financial institution-related premises and transit risks. We provide cover to retail, wholesale and manufacturing jewellers for storage and transport risks (including exhibition and consignment risks); diamond processing risks and private individuals for their collections.

Who we cover

The fine art book encompasses private collections, commercial galleries / dealers, museums, travelling exhibitions and auction houses. We provide cover for the liability of armoured car companies for the transport of cash as well as the static risk.

Within the general specie account are included bank vault risks and other financial institution related risks, shipment and storage of precious metals, automated teller machine risks and other miscellaneous valuable property risks.

Expertise in Specie

We are one of the largest London-based specie underwriters, both by premium and individual risk capacity.

We write a truly international specie account in terms of breadth of cover given, where our clients are situated and where the business is written by the Group. We write business on a direct and reinsurance basis, via brokers and underwriting agents. Our claims team have specialist specie claims handlers.