Willis, a WTW business, has partnered with Circle Asia to launch what the companies describe as Asia’s first insurance facility designed specifically for individual collectors and art galleries, the companies announced.
The facility combines Willis’ specialty arts insurance expertise with Circle Asia’s digital platform to offer coverage for fine art, jewelry, and specie collections, a news release noted. Unlike traditional fine art insurance, which often requires minimum value thresholds or premium commitments, the new platform offers a lower entry premium, broadening access to a wider range of collectors and galleries across the region.
Under a single policy, individual collectors can secure coverage for fine art, jewelry, home contents, and buildings. The facility also supports one-off exhibition and transit coverage, with Willis’ Fine Art team managing operations end-to-end through Circle’s digital platform.
Fion Ko, associate director of fine art, jewellery and specie, Asia at Willis, said the region’s art market has outpaced its insurance options.
“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,” Ko said. “Clients now expect fast turnaround and efficient service on their coverage and handling of claims.”
Ko added that the partnership is intended to close that gap. “Through this partnership with Circle Asia, clients will receive our tailored fine art risk expertise, along with professional advice on prevention and protection,” she said. “Circle’s digital platform supports our team by improving efficiency, underwriting access, and processing speed.”
Steve Hutchinson, head of corporate risk & broking in Hong Kong at Willis, said the arrangement simplifies what has traditionally been a complex process. “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,” Hutchinson said.
Julie Quach, co-regional director of Circle Asia Ltd., said the partnership draws on the distinct strengths of both organisations.
Willis’ fine art specialist team is based in Hong Kong and serves museums, institutions, auction houses, art dealers, shippers, and packers, as well as corporate and private collections of art, antiques, and jewelry.
Circle Asia, backed by Circles Group and Optio, holds an A+ (Superior) AM Best rating and is supported by Lloyd’s.
