In the often-nostalgic realm of sports memorabilia—where fervent fans and collectors traverse the line between passion and investment—the need for tailored insurance solutions has remained a palpable gap in the Canadian market. Enter the pioneering collaboration between NFP, a major player in property and casualty brokerage, and Berkley Asset Protection. Together, they’ve launched a bespoke insurance program especially crafted for collectors of sports cards and memorabilia across Canada.
The unveiling of this program marks a significant milestone for collectors, many of whom have long grappled with the inadequacies of standard homeowners insurance policies when it comes to their treasured collections. Greg Dunn, Managing Director of Personal Risk at NFP in Canada, expressed the critical nature of this initiative, emphasizing that the program is not just an insurance plan but a safety net that catches collectors the moment they make a purchase. The program boasts features such as automatic coverage for new acquisitions and comprehensive transit coverage, thereby addressing both the immediate and longer-term needs of collectors.
Olivia Cinqmars-Viau, the AVP of fine art underwriting at Berkley Asset Protection, further underscored the personalized approach of this initiative. The program is designed to mold itself around the unique dimensions of each collection it covers, offering a level of specificity that generic insurance policies often fail to provide. For collectors, this means that every signed jersey, every vintage card, and every piece of memorabilia tucked away in their basements or displayed in their living rooms is assessed and protected on its own terms.
The significance of such a program is not lost on community insiders either. Steve Menzie, the president and owner of the Sport Card & Memorabilia Expo—the largest event of its kind in Canada—hailed the arrival of the insurance plan as a game-changer. Menzie highlighted how collectors often perceive their collections through a dual lens of sentimental and financial value. With such substantial amounts of money on the line, the financial protection offered by the NFP and Berkley initiative provides not just peace of mind, but a crucial financial backstop should the unexpected happen.
The introduction of this insurance program is timely. Set to be showcased at the upcoming Sport Card & Memorabilia Expo in Toronto, scheduled for April 25-28, the initiative promises to be a highlight for the show’s attendees. The NFP’s Personal Risk team plans to be on the ground, ready to guide collectors through the nuances of the new offering and help them understand how it can be a cornerstone in safeguarding their collections.
Beyond just meeting the needs of individual collectors, NFP’s commitment to this niche signals a broader understanding of collector culture and the evolving markets associated with collectibles. Employing over 1,000 staff in Canada and more than 8,000 globally, NFP’s engagement in this specialized insurance program illustrates a tailored approach to risk assessment, emphasizing not just the value of the collectibles but the stories and histories they represent.
As the landscape of sports memorabilia collecting continues to mature and expand, insurance solutions like this are increasingly critical. They not only protect financial investment but also ensure the preservation of cultural history encapsulated by these collections. For collectors, having a targeted insurance option that understands the unique elements of sports memorabilia is invaluable, making it easier to pursue their passion with the confidence that their investments, both emotional and financial, are securely protected.
