Cologne, 23 March 2021

  • Insurance for private and corporate collections, museums and galleries
  • The offer is realised through HDI Global Specialty Underwriting Agency GmbH together with the risk carrier HDI Global Specialty SE

 

The entry into the art insurance market is being made with a specialist company, HDI Global Specialty Underwriting Agency GmbH with registered office in Cologne. The central risk carrier will be HDI Global Specialty SE. The selected structure will allow the flexibility of a specialist company to be combined with the capabilities and capacities of HDI Global Specialty SE.

Within the Underwriting Agency, Dr Alexander Wiebe will be responsible for this business segment as Managing Director. In recent weeks, he has been putting together a specialist team with a long track record of many years of experience in this sector: Philippe Dietz as Head of Underwriting and Christina Meyer as Senior Underwriter, along with Christian Himmelberg as Head of Claims. The team will be complemented by other specialists in staff functions.

“We regard ourselves as being part of the art community,” commented Alexander Wiebe on his team. “Our aim is to join forces with our customers and sales partners to safeguard against the unexpected, insure valuable objects with judiciousness and expertise, and in this way preserve cultural heritage over the long term. On the one hand, we thereby take on the risks of our customers, and on the other hand we also live up to our social responsibility."

“We regard ourselves as being part of the art community.”

Art insurance products available with immediate effect

The new products for art and collectibles are available with immediate effect. The features they offer include the following:

Insurance of private and corporate collections:

  • All-risks cover for collectibles of any type (incl. media art)
  • Fast, unbureaucratic and prompt documentation and amendments
  • Professional claims processing including reimbursement of costs in connection with the claim

 

Offer for museums:

  • Insurance of museum inventories, (permanent) loans, reference libraries, catalogue stock, technical exhibition accessories, including temporary removal to restorers, etc.
  • Insurance protection without interruption in conformity with international standards.
  • Professional and expert support in relation to underwriting issues and in cases of claims

 

Insurance for the gallery business:

  • All-risks cover for own holdings, commission and display articles, and loans, co-insurance of technical exhibition accessories, cash and catalogue inventories
  • Comprehensive payment of costs in the event of a claim, e.g. for clean-up, transport and storage costs
  • Seamless coverage during transport

 

The art insurance offer is complemented in the private sphere (B2C) by the opportunity to insure valuable household effects and residential buildings with all-risks cover. Today, it is already possible for high net worth individuals (HNWI) to also insure private aeroplanes. Expansion of the offer of lifestyle insurance policies with HNWIs as a target group is planned.

The team is also taking over the existing activities relating to valuables insurance of HDI in Germany. This relates to all-risks cover for insurance of valuable objects like jewellery, cash, gold, and strongbox and safe contents. HDI also offers “cash in transit” insurance for transporters of money and valuables. HDI is already regarded as one of the leading providers in this segment.

HDI Global Specialty Underwriting Agency can delegate underwriting powers of attorney to leading specialist sales partners. These powers are intended to place these partners in an outstanding position in relation to the competition because they are close to the customer and can respond quickly.


About HDI Global SE

As an industrial lines insurer, HDI Global SE (HDI) meets the needs of SMEs, industrial companies and corporate customers with insurance solutions that are specifically tailored to their requirements. In addition to HDI's prominent position in the German and broader European market, the company also has operations in more than 150 countries through foreign branch offices, subsidiary and peer companies, and network partners. The company is thus able to offer its customers local policies for their global operations, which ensure that the established service and insurance protection is extended for all covered risks worldwide.

HDI Global SE is a company in the Talanx Group’s Industrial Lines Division. Approx. 3,700 employees in this division generated gross written premiums of approx. EUR 6.2 billion in the year 2019. The rating agency Standard & Poor’s has given the Talanx Primary Group a financial strength rating of A+/stable (strong). Talanx AG is listed on the Frankfurt Stock Exchange in the SDAX as well as on the stock exchanges in Hannover and Warsaw (ISIN: DE000TLX1005, German Securities Code: TLX100, Polish Securities Code: TNX).

You can find additional information by going to:
 www.hdi.global


Disclaimer

This news release may include forward-looking statements which are based on certain assumptions, expectations and opinions of the management of Talanx AG and/or HDI Global Specialty SE. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG’s and/or HDI Global Specialty SE’s control, affect our business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialize, actual results, performance or achievements of Talanx AG and/or HDI Global Specialty SE may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG and HDI Global Specialty SE do not guarantee that the assumptions underlying such forward-looking statements are free from errors nor do Talanx AG and/or HDI Global Specialty SE accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG and HDI Global Specialty SE neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.