(PRESS RELEASE) NEW YORK — Berkley Asset Protection (BAP), a Berkley company, is to be celebrating its 15th year of business offering best-in-class service through a high quality suite of insurance products designed to protect fine art, jewelry and other high-value, personal and commercial assets. Upon hitting this milestone, BAP is as engaged as ever in continuing support of its partners and elevating its offerings through innovative thinking and exciting new initiatives.
Berkley Asset Protection was founded in 2008 with Joseph “Chip” Dowd as President, Gregory J. Smith as Executive Vice President and Nicholas Reynolds as Senior Vice President to address a need in the insurance market for specialty coverage in fine art and jewelry. Since its inception, BAP has grown to become a leader in the space through unparalleled knowledge, service and an established distribution network of retail and wholesale insurance professionals. BAP’s brokers and agents cater to a global base of clients in a variety of environments. These include 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. BAP’s claims and loss control operation is the gold standard for the fine art and jewelry insurance industry. 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,” says Greg Smith. “Our journey began humbly from a one room office. 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 significant technological advances, launching a new platform to serve as a one-stop portal that allows customers to manage their own policies easily. 2022 saw monumental developments when 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,” says Chip Dowd. “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. Thank you to our team, our brokers, our industry partners and everyone who has taken this journey with us and propelled our growth. We look forward to many more years of success together.”
About Berkley Asset Protection
Berkley Asset Protection, a Berkley company, is a leading specialty insurance provider that offers insurance for all aspects of jewelry and fine arts businesses: jewelers block, fine art, museums, commercial property and liability, and workers’ compensation. It also offers Lavalier Personal Jewelry Insurance and coverage for individuals’ collections.
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For information about Berkley Asset Protection, please visit BerkleyAssetPro.com.
