Carriers that provide coverage for rare, valuable items understand that it's ill-advised to assign appraisers who specialize in fine art or jewelry to assess the valuation of an expensive item outside their realm of expertise.Selecting the wrong appraiser can result in an inaccurate assessment-one that not only negatively impacts an insurer's risk exposure, but also can affect the price a policyholder pays for coverage.
Adding a greater degree of efficiency and specialization to the appraisal of high-end valuables was top of mind with Novato, Calif.-based Fireman's Fund Insurance Co. when the company launched a program in conjunction with the American Society of Appraisers (ASA), McLean, Va.
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