As passion assets continue to rise in popularity amongst investors, White Oak Underwriting launches a risk service catering to this growing market.

As passion assets continue to rise in popularity amongst investors, White Oak Underwriting, a part of the Lloyd's insurance market in London, launches a risk service catering to this growing market.

Patricia Wattling, as jewellery and fine arts underwriter, will head its new Fine Art, Classic Car, Jewellery and General Specie capacity. She has spent the past 25 years in the insurance industry, specialising in the fine art and jewellery sector, with posts at Blackwall Green (Heath Lambert) and RFIB Special Risks.

White Oak, an underwriting business, focuses on worldwide auto related products. It is expanding its expertise as demand grows for specialised insurance, particularly for increasingly valuable classic cars, following extensive market research.

“It’s not unusual for sums in excess of £1 million to change hands for vehicles of exceptional provenance, and naturally owners of such vehicles will want the security of knowing they are properly insured with specialist cover,” Wattling said.

With aims to expand globally, White Oak’s new arm will deliver a high net worth associated risks service aimed at both the private and commercial markets.

Purchases of fine art and classic cars have rocketed in recent years amongst high net worth individuals and, at the present, show no sign of slowing down, prompting White Oak’s move.