State of the art
The contemporary art market is a profitable area for the insurance industry and, with an increasing number of private collectors from across the globe seeking the latest work, Philip Austin discusses how providing high-net-worth cover has never been more specialised
This year's British Art Fair boasted one of its best attendances yet. Over the past few years, the event has seen increased interest from private buyers, reflecting a buoyancy in the economy. However, as the credit crunch hits - and it appears that 2008 will be a financially bumpier year for the affluent classes - the question on everybody's lips at the fair was whether the contemporary art market bubble is ready to burst. This could clearly be a concern for the insurance sector, given what a
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