Move prompted by growing demand for specialist expertise to service sector

White Oak Underwriting Agency (WOUA) has launched a new specialist fine art and classic car capacity aimed at both the private and commercial market.

The specialist underwriting agency has appointed Patricia Watling as jewellery and fine arts underwriter.

WOUA underwriting director Matthew Maxwell said: “2014 is going to be a big year for WOUA. We have researched this market very carefully and there is clearly a growing demand for specialist expertise to service the high net worth end of the fine art and general specie sector.

“We are looking to capture a significant part of this growing sector, and will be adding further classes to WOUA as the year progresses to complement our highly successful non-catastrophe short tail business.”

Watling has 25 years’ experience in the insurance industry, primarily in the fine art & jewellery sector. She previously worked for RFIB Special risks and has held a full binding authority from underwriters at Lloyd’s since 1999.

She said: “I am excited to be involved in launching this new capability and capacity within this niche and specialities sector.

“Values of art and classic cars continue to rise and demand is strong from clients, especially in the high net worth sector.”

WOUA is a specialist underwriting agency that focuses on global motor related products. These products include physical damage insurance and reinsurance, both on commercial and private vehicles and construction and agricultural equipment.