Liberty Specialty Markets, part of Liberty Mutual Insurance Group, has increased its capacity for fine art and specie risks to $250 million globally.
LSM’s Head of Marine, Mike Burle, said that the investment is aimed at elevating the company’s platform and expanding its global offering.
“We’re seeing greater demand from both our clients and broker partners and are serious about meeting it,” said Burle.
“This change places us firmly among the tier one insurers for fine art and specie. It makes Liberty Specialty Markets a strong carrier in this space with the ability to form innovative solutions for our clients.”
LSM underwrites a global portfolio of fine art and specie business for a range of clients, including museums, vaults and multi-national banks.
The increased line size will be available worldwide through LSM’s dedicated fine art and specie underwriters in London, New York, Zurich, Paris, Cologne, Madrid, The Hague and Boston.
