In Romania, insurances dedicated to exhibitions and art collections are not yet well-known products, but they are gradually gaining popularity. Razvan RUSU, CEO, LEADER Team Broker, spoke at the “Time of Risk” show on Tuesday of RFI, about the company’s latest project on this segment, as well as plans for the next period.

Thus, LEADER Team Broker has recently been the mediator of the insurance policy of the exhibition “Plastic Artists, members of the Romanian Academy”, which includes more than 50 works of art.

“Securing artworks is a complex product, it is an all-risk insurance in which we have only a few exclusions that are mainly related to the insurer’s poor belief, negligence or aspects regarding the restoration of works of art and the loss of value as a result of the restoration, “explained Razvan RUSU. “There are very few such events in Romania.”

However, special insurance projects continue to remain in the attention of LEADER Team Broker in the next period, along with other types of policies, as clients are also interested.

“Last year, we saw an increase in the corporate brokerage area. Currently, we have a balanced portfolio of nearly 50% corporate and 50% retail, which is very pleasing,” said Razvan RUSU, adding that the average growth rate the company in recent years was about 11%, which is a healthy evolution. “This year we are expecting a slightly higher growth, we are trying to develop new products with insurers, including such niche products,” he said.

“We focus on the sphere of responsibility, but also on health insurance. We will bet less on the bonuses this year because the elections are following and we noticed that there are usually fewer new projects in this period. we will continue to focus on these special insurance, which have begun to come from the client to us as well. The world is starting to know this niche, “said Razvan RUSU.

Asked how the insurers react when it comes to such new projects, the LEADER Team Broker CEO mentioned that “depends on the project and the amount. If the project was made in Romania, there is a fairly large flexibility, with the condition that: the amounts are not extraordinarily high and do not exceed the reinsurance contracts. If they exceed the maximum value on the reinsurance contract, then even if the insurer’s availability exists, he will still be unable to do the project, and then we have to address a companies from abroad “.