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Berkley Asset Protection Celebrates 15 Years October 02, 2023 (0 comments)


New York, NY--Berkley Asset Protection (BAP) is celebrating its 15th year of business offering a suite of insurance products designed to protect fine art, jewelry and other high-value, personal and commercial assets.

Berkley Asset Protection was founded in 2008 by Joseph “Chip” Dowd as president, Gregory J. Smith as executive VP and Nicholas Reynolds as senior VP. They wanted to address a need in the insurance market for specialty coverage in fine art and jewelry. BAP’s brokers and agents cater to a global base of clients in a variety of environments, including private and corporate art collections, museums, galleries and exhibitions, jewelry wholesalers, retailers and manufacturers; and those who work with collectibles, currencies, securities and other high-value assets. The business has expanded globally, now underwriting in Australia, Hong Kong, Singapore, Canada, Continental Europe, the U.K. and Latin America operating with local entities.

“We had this idea of starting an insurance business specializing in the areas we love. We knew immediately that Berkley was where we wanted to be,” Smith said. “To see the level at which we have been able to grow in the last 15 years, as a team and as a business, is such an honor and reward and I am so excited to see where the next 15 years will take us.”

In 2017, BAP introduced Lavalier personal jewelry insurance, offering quick and affordable direct-to-consumer jewelry coverage. Lavalier has since made technological advances, launching a new platform to serve as a one-stop portal that allows customers to manage their own policies easily. Lavalier became the official insurance partner of both Signet, the world’s largest retailer of diamond jewelry, and one of the U.S.’s most well-known and top-rated personal insurance providers.

“This is an incredibly profound milestone Dowd said. “Berkley Asset Protection was started to fulfill a need in the marketplace by offering the best in underwriting and claims expertise, and we have remained committed to our purpose. We take our professional relationships very seriously and look for ways to evolve with the changing marketplace and overall landscape, such as the development of an online platform and new product offerings, to support our partners and expand opportunity.”

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