Hiscox has launched a $1bn fine art consortium venture in collaboration with Ascot Underwriting. Hiscox will act as lead underwriter in the venture, which aims to streamline the process of placing large fine art risks within Lloyds. The new fund is expected to be based on an existing model that allows for more efficient and transparent risk management across all asset classes.
Hiscox has launched a $1bn fine art consortium venture in collaboration with Ascot Underwriting. Hiscox will act as lead underwriter in the venture, which aims to streamline the process of placing large fine art risks within Lloyds. Once a rarity, billion-dollar art collections are becoming more commonplace in the Lloyds market, according to Robert Read, head of Fine Art at Hiscox.