Private Client Select (PCS), an insurance partner for serious art collectors, highlights the growing complexity of protecting fine art and collectibles. The article details unusual but real claims—such as a conceptual artwork mistaken for trash, a fiber work unraveled by a cat, or a sculpture damaged by a housekeeper—alongside more common risks like climate damage, transit mishaps, and theft. PCS's Art Services team, led by Senior Vice President Muys Snijders, offers proactive risk management, coordinating conservators, appraisers, and storage solutions. Emerging threats include climate change (wildfires, floods), social media exposure, financial complexities (tariffs, collateral lending), and material degradation of contemporary works using nontraditional materials.
This matters because the art market is increasingly globalized and vulnerable to new risks that standard homeowners policies fail to cover. As collections grow in value and complexity—spanning sneakers, watches, and ephemeral artworks—specialized insurance and risk management become essential for preserving both financial value and cultural legacy. The article underscores a shift toward comprehensive, expert-driven protection, especially for collectors facing generational transfers, location-based hazards, and evolving market conditions. It serves as a practical guide for collectors to avoid costly gaps in coverage and ensure their assets are properly documented and insured.