In a move that’s stirring up excitement among Canadian sports memorabilia aficionados, a fresh insurance solution has been rolled out, designed expressly for the ardent collector with more than just a casual interest in preserving their prized possessions. The players behind this initiative? NFP, a heavyweight in the property and casualty brokerage arena, and Berkley Asset Protection, a company as proficient in safeguarding fine art as a goalie is at blocking pucks. Together, they’re changing the game for collectors.
Greg Dunn, the Managing Director of Personal Risk at NFP in Canada, spun this news with zeal. He unveiled that this new insurance scheme aims to do much more than typical homeowners insurance policies, which often fall short when it comes to covering towering stacks of vintage sports cards or autographed jerseys. For collectors who frequently find themselves swinging big deals to snag some historic paraphernalia, this program pledges to fill in those perilous coverage potholes that could swallow a rookie whole.
The coverage mechanics of this program are akin to having a safety net the size of a soccer goal. It offers automatic coverage for new treasures the second they change hands and includes transit coverage, ensuring that your collectibles are protected from the moment they start their journey to your trophy room. This is a game-changer, reducing the nail-biting that typically accompanies the transportation of such valuable items.
Adding her expert commentary, Olivia Cinqmars-Viau, who’s the Associate Vice President of fine art underwriting at Berkley Asset Protection, painted a detailed picture of the policy’s framework. Tailor-made, the insurance caters specifically to the unique demands of sports memorabilia collectors. In other words, it’s like having a custom-fit glove designed just for catching those fastball risks that come flying toward valuable collections.
Swinging in with support for this strategic play, Steve Menzie, the president and owner of the Sport Card & Memorabilia Expo — the largest showcase of its kind in Canada — tipped his cap to the initiative. He underscored that while many collect out of passion, the monetary value locked within items like mint-condition rookie cards and signed memorabilia can’t be ignored. Recognizing this financial dimension helps secure a collector’s investment against unpredictable losses, making the whole hobby less of a gamble.
This isn’t just a pat on the back for collectors; it’s a comprehensive service rollout, set to debut at the Sport Card & Memorabilia Expo in Toronto. From April 25-28, NFP’s Personal Risk team will be fielding questions and guiding collectors at their booth, elaborating on how this new insurance can shield their assets from being fouled out by unforeseen circumstances.
As part of a broader strategy to cater to collectors, NFP is not only pitching a tent at expos but has also staffed up significantly. With over 1,000 employees in Canada and an international team roster exceeding 8,000, they’re positioned more like a sports team ready for international play than a traditional insurance brokerage.
For the collectors, this new offering could mean that the next time they snag an autographed Wayne Gretzky jersey, their biggest worry won’t be about insuring it, but where to hang it. With coverage now dialed in to as fine a detail as the stitching on a vintage baseball, their only concern should be whether to show it off in the living room or the den. This policy, much like a meticulous referee, ensures every play in the collector’s game is well covered, leaving them to focus on the thrill of the chase rather than the fear of loss. Efforts like these ensure that for collectors, the joy of collecting isn’t overshadowed by the risk of owning.
