WHISKY INSURANCE TAKES OFF AMONG THE WEALTHY

Whatever is precious to you is insurable as long as you can pay the Premium. The rich and famous knows this well. That is why, with prices of rare Whisky soaring into the six and seven digits more and more collectors are seeking for Insurance covers. RON Fiamma, head of global collections at AIG’S private client group said that the Insurance giant has seen an uptick in Whisky collecting that it has expanded its coverage of specialty collections to include those whose tastes run to a 1926 Macallan. Rare Whisky has appreciated 140 percent in the last five years and AIG has seen an almost tenfold increase in new submissions for Whisky Insurance year over year.

The rise in both prices and attendant need for Insurance also gives a view into the changing landscape of alternative Investments. Topping the list of Insured collectibles at AIG right now are whisky, watches and cars. A shift in focus from what many view as traditional collectibles.

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