Willis, a WTW business, has partnered with Circle Asia to launch a new art insurance facility designed specifically for individual collectors and art galleries in Asia, the first of its kind in the region.
The facility combined specialist arts insurance expertise from Willis and Circle’s digital platform to deliver a seamless and cost-effective way to insure fine art, jewellery and specie collections.
Offering a more accessible entry point for collectors and galleries, this new facility provides comprehensive fine art coverage through a single, streamlined solution.
It meets the evolving demands of Asia’s expanding art market by significantly lowering the previous minimum value thresholds or minimum premium commitments traditionally required for fine art insurance.
Fion Ko, Associate Director, Fine Art, Jewellery and Specie, Asia at Willis, said: “Asia’s fine arts market continues to grow rapidly, with the increasing participation of young and affluent collectors, yet insurance solutions have not always kept pace. Clients now expect fast turnaround and efficient service on their coverage and handling of claims.
“Through this partnership with Circle Asia, clients will receive our tailored fine art risk expertise, along with professional advice on prevention and protection. Circle’s digital platform supports our team by improving efficiency, underwriting access and processing speed. These enhancements translate into a faster, more seamless experience for our clients.”
The facility’s key benefits include: a lower minimum premium, a single comprehensive policy covering all assets (fine art, jewellery, home contents, building for individual collectors), bespoke terms and premiums, efficient end-to-end management via Circle’s digital platform by Willis’ Fine Art team, and best-in-class policy wordings tailored to individual collector needs.
Additionally, the new insurance facility is also ideally positioned to support one-off exhibition and one-off transit coverage, both of which benefit from comprehensive insurance terms and an expedited turnaround.
Steve Hutchinson, Head of Corporate Risk & Broking in Hong Kong at Willis, added: “This partnership with Circle Asia enables us to introduce a significantly reduced minimum premium and simplify traditionally complex policy structures, while delivering a high-quality, digitally enabled fine arts solution for our collectors and galleries clients.
“By combining Willis’ specialist arts insurance expertise with Circle Asia, this launch reinforces our commitment to developing innovative, client-centric insurance solutions and expanding our specialty capabilities in Hong Kong, while supporting Circle Asia’s mission to modernise fine arts insurance distribution through technology.”
Julie Quach Co-Regional Director of Circle Asia Ltd said: “This partnership demonstrates the strength that comes from two organisations bringing complementary capabilities together. Our valued collaboration with Willis builds on each other’s expertise, combining their deep knowledge in art and specialty insurance with Circle Asia’s digital infrastructure and technical underwriting strengths.
“This new facility reflects our shared ambition to support a growing market with solutions that enhance confidence, resilience and service quality for collectors and galleries across Asia. Our collaboration is about empowering the art community with protection, insight and service excellence and we are genuinely excited about the possibilities this strengthened partnership opens for the industry.”
