Protecting Andy Warhol From Flood, Fire and Quake
“Now, I’m paying attention.”
Insurance companies that cater to high-net-worth individuals — like AIG Private Client Group, Chubb, Cincinnati Insurance and Pure Insurance — operate at a level of service
that would seem unfamiliar to people who have mass-market insurers.
Property and casualty insurers often send tips to their policyholders ahead of potential natural disasters like wildfires in the west or hurricanes in the southeast,
but insurers with affluent clients like to go a step further — even if it means intervening to protect the property themselves.
“We were able to find some land space to have the yacht pulled out ahead of the storm,” said Stephen Poux, global head of risk management services
and loss prevention at AIG Private Client Group, which provides coverage of up to $5,000 to help subsidize the cost of hauling a boat out of the water.
Ray Celedinas, president and chief executive of the Celedinas Insurance Group in Palm Beach Gardens,
Fla., said he had used the Smart Build service when he built his home in West Palm Beach.
Annmarie Camp, an executive vice president at Chubb Personal Risk Services, said one part of the company’s wildfire service was to help clients clear brush from around the property as regular maintenance,
but then be ready with sprinkler systems and other tools if a fire started.
Jeremy Alters, a personal injury lawyer in Miami, found out how far his insurer would
go to protect his art collection when Hurricane Irma hit Florida last week.
