Crawford-THG Launches High Net Worth Service in UK
According to Crawford-THG's Special Investigations Division, the growing market in antiques--and its popularity with thieves--has effectively redefined High Net Worth in the UK. Criminals are more aware of the value of family possessions which have been handed down through the generations and this increased knowledge often means that households not normally associated with high wealth are being targeted by burglars on a systematic basis.
John Roberts, Director of Crawford-THG's Special Investigations Division, says "While thieves will always target 'traditional' high-value items, they are also becoming bolder and will now even take fixtures and fittings of a property, often stealing to order."
In response to the changing needs of policyholders, Crawford-THG has launched a new High Net Worth service in the UK. Insurers and brokers will now be able to offer a tailored package to their clients with a menu of high net worth and specialist fine arts, antiques jewelry services to select from. The new service will concentrate on the customer's needs and assist in providing focus on their insurance arrangements--pre and post-incident if required--in addition to the provision of a claims service.
"It is very difficult for insurers to now point to a 'typical' high net worth customer in the marketplace and there was a need to address this," says Nick Black, Crawford-THG Associate Director.
Black explains, "We worked from the starting point of making losses less painful for the claimant. Pre-risk surveys give policyholders a photographic and itemized record of their valued possessions, so in the event of a loss the claim can be handled efficiently.
"Restoration of damaged property is also a key feature because it not only means the owner can keep their treasured item, it is also more cost-effective for insurers.
"Burglars are targeting properties which are likely to contain a good haul, knowing that perhaps their owners are a bit less security conscious. They know that what they take can be relatively easily sold on, which is why the Special Investigations Division also works with the police to assist recovery," he adds.
Antique and fine art specialists will deal with quantum enquiries, restoration possibilities and the sale of salvage items using databases of contractors and market prices. The insured would also benefit from the company's contacts with the Art Loss Register, Trace Magazine and Thesaurus.