Willis and Circle Asia launch art insurance for collectors

Willis, part of WTW, has collaborated with Circle Asia to introduce a new insurance facility aimed at individual art collectors and galleries across Asia.

This initiative brings together Willis’ fine art insurance experience with Circle’s digital platform to offer a simplified method for insuring artworks, jewellery and other valuable collections.

The new facility introduces a lower entry premium, the company said in a statement.

The policy provides coverage for various assets under one agreement, including art, jewellery, home contents, and buildings for private collectors.

Policy terms and premiums are structured to suit the specific requirements of clients.

Policy management will be handled by Willis’ Fine Art team through the Circle platform.

Circle Asia co-regional director Julie Quach 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 digital approach is intended to improve communication, provide clear accountability and speed up the process compared to standard practices.

The facility is also designed to accommodate short-term needs such as cover for single exhibitions or transit events, with terms that allow for quick responses and comprehensive protection.

Based in Hong Kong, Willis’ Fine Art team works with auction houses, corporate and private collections of art and jewellery, dealers, institutions, museums, packers and shippers.

Willis Asia Fine Art, Jewellery and Specie, Asia associate director Fion Ko 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.”

Earlier this year, Willis returned to the light and recreational general aviation insurance sector after 30 years. This move followed the integration of the Crispin Speers team into the company’s operations.