Lloyd’s London based specialist underwriter White Oak Underwriting Agency (WOUA) has launched a new specialist fine art, classic car and general specie capacity aimed at both the private and commercial markets.
To help spearhead the push into this fast-growing market sector, WOUA has recruited Patricia Watling as jewellery and fine arts underwriter.
Trish Watling has 25 years’ experience in the insurance industry, primarily in the fine art & jewellery sector.
Watling has worked with some of the leading experts in this field, including Blackwall Green (Heath Lambert) and RFIB Special Risks. She has held full binding authority from Underwriters at Lloyd’s since 1999.
“I am excited to be involved in launching this new capability and capacity within this niche and specialities sector,” said Watling.
Values of art and classic cars continue to rise and demand is strong from clients, especially in the high net worth sector.
WOUA Underwriting Director Matthew Maxwell said: “2014 is going to be a big year for WOUA. We have researched this market very carefully and there is clearly a growing demand for specialist expertise to service the high net worth end of the fine art and general specie sector.
“Trish Watling is very well known in the industry, and we are very pleased to have her expertise and professionalism on board. We are looking to capture a significant part of this growing sector, and will be adding further classes to WOUA as the year progresses to complement our highly successful non-catastrophe short tail business.”
John Shepherd, WOUA Managing Director added: “We are expanding our global sphere of operations and our international market penetration reflects the fact that White Oak Underwriting is one of the few international underwriters which can respond to current global demand in this specialised insurance arena.”