The growing effects of climate change should be a wake-up call for art collectors and their planners, a top art insurance executive says. As major storms such as Hurricane Sandy increase in frequency, art collectors—and their advisors—need to be more vigilant about emergency evacuation plans and inventory management systems for valuable works of art, according to Katja Zigerlig, vice president for fine art and wine insurance at the AIG Private Client Group.

"People have to start thinking more about catastrophic events," says Zigerlig, who gave a presentation on art trends in February at an event in Miami sponsored by Northern Trust. "Natural disasters are occurring more frequently, and Hurricane Sandy was just the most recent example.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access