6Changing Values And while noteworthy on its own, the rise in both prices and attendant need for insurance also gives a view into the changing landscape of alternative investments. For instance, art and jewelry continue to top the list of insured collectibles at AIG right now, says Fiamma, but there’s been a significant increase in interest in protection for whisky, watches, and cars, marking a shift in focus from what many view as traditional collectibles and also how wealth is being transformed by younger generations.
“The 90-year-old may leave a beautiful silverware collection or maybe some jewelry. The 50- or 60-year-old children are divesting themselves of those assets and purchasing whisky, beautiful watches, Ferraris,” Fiamma says. “We get to see that internally as they move from one policy to the next. It’s a fascinating look at the transfer of wealth on the collection side.”
