Specie

Underwriting appetite

We insure valuable property (specie) whilst in storage and in transit anywhere in the world against physical loss or damage. Policies may be written via any of the Group’s offices worldwide (in addition to London, there are dedicated specie underwriters in Cologne, Singapore and Sydney).

Specie is a moral hazard-exposed class so a key underwriting consideration is the integrity, management and risk management of the insured. We also focus on the crime rate within the environment that the assured is working in.

We are particularly focused on the art and jewellery trades, the armoured car industry and financial institution-related premises and transit risks. We provide cover to retail, wholesale and manufacturing jewellers for storage and transport risks (including exhibition and consignment risks); diamond processing risks and private individuals for their collections.

The fine art book encompasses private collections, commercial galleries / dealers, museums, travelling exhibitions and auction houses. We provide cover for the liability of armoured car companies for the transport of cash as well as the static risk.

Within the general specie account are included bank vault risks and other financial institution related risks, shipment and storage of precious metals, automated teller machine risks and other miscellaneous valuable property risks.

Coverage

We underwrite policies that insure against the risks of physical loss or damage to the specie (valuable) interest.

Narrative

Catlin is one of the largest London-based specie underwriters, both by premium and individual risk capacity and has written a specie account since it began underwriting in 1985. We write a truly international specie account in terms of breadth of cover given, where our clients are situated and where the business is written by the Group. We write business on a direct and reinsurance basis, via brokers and via underwriting agents. Our claims team have specialist specie claims handlers.

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Underwriter: Ken Hopwood Tel: +44 (0)20 7015 0749
Email: ken.hopwood@catlin.com

Underwriter

Ken has over 40 years experience in the insurance industry. During this time he has occupied a number of senior positions within both the Lloyd’s and Company markets. He was the active underwriter for Syndicate 209 and in recent years has undertaken the role of specie underwriter with a number of syndicates latterly Wellington.
Ken has held a number of directorships within the Lloyd’s community. He was a member of the Chartered Insurance Institutes Advanced Study Group 240 (Marine Insurance in the C.I.S) and is an elected member of the Joint Cargo Committee (JCC) and of the JCC Working Party on Airport Security and on the Metals Working Party.; Richard Panter Tel: +44 (0)20 7458 5787
Email: richard.panter@catlin.com

Underwriter

Richard started his insurance career in 1983 working in the general Non-Marine department of a small Lloyd's broker before joining the specie broking team of Stewart Wrightson/Willis Faber in 1987. He has remained in the fine art/specie field, working for Leumi Insurance Services, Alexander Forbes and HSBC Insurance Brokers. He joined CUAL as a class underwriter in December 2002.; Charlotte Wilson Tel: +44 (0)20 7648 8164
Email: charlotte.wilson@catlin.com

Underwriter

Charlotte graduated from Oxford Brookes University, completing a combined honours degree in History of Art and Accountancy & Finance. She also studied History of Art in Florence. She worked at the Musee d'Orsay in Paris as a secondee before joining Sedgwick Insurance Brokers (now Marsh) as a graduate trainee. She spent five years as a broker before with Marsh joining Catlin in 2001 as an underwriting assistant. She was appointed a Class Underwriter in 2006.

Underwriting Assistant: Katherine Miller Tel: +44 (0)20 7015 0763
Email: katherine.miller@catlin.com; Karen Wood Tel: +44 (0)20 7648 8161
Email: karen.wood@catlin.com

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