Specialist musical instrument cover launched by AXA Art

AXA Art has won two accounts from Allianz to insure the entire collection of instruments in the Trinity College of Music and the Benslow Instrument Loan Scheme, which has more than 1,500 instruments.

The Benslow business was placed by broker Heath Lambert, while the Trinity College account was placed by Lark Insurance Broking Group. Both institutions’ instruments were insured for an undisclosed sum.

AXA musical instruments development manager John Feaver said: “We are targeting the mid high-end on the classical side. We want to develop our orchestral and institutional business as well as book of individual musicians. We are looking at direct business through the institutions but also dealers and collectors and looking at working in partnership with them on referral schemes, where there would obviously be some financial benefits to the referrer.”

The accounts were won as AXA Art launched its specialist insurance cover.

“AXA Art has been insuring items of both financial and sentimental value for over 40 years,” said head of marketing and distribution Nick Grazier. “Our approach to ensuring musical instruments is based on understanding what is actually important to musicians and collectors. Insurance doesn’t have to be about adding value only when there is a claim.”