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ACE Report: Wealthy Families Have 'Blind Spot' When Protecting Jewelry, Art

Innovative technology and service solutions make it significantly easier to track, value, protect and enjoy assets

By staff Writer | Updated on November 08, 2013

Tangible assets, such as fine art, wine, jewelry, antiques, sports memorabilia, classic cars and other valuables, have finally been recognized as an asset class in their own right. Yet high net worth individuals have too often neglected to manage and protect their treasures as carefully as they manage their financial investments or businesses. Now, individuals and families with substantial tangible assets have access to innovative technology and service solutions that make it significantly easier to track, value, protect and enjoy their assets.

The” blind spot” in managing assets—as well as the solutions coming into focus—are addressed in a new white paper released today by ACE Private Risk Services, the high net worth personal lines business of the ACE Group, and Trov, a technology leader in helping people collect and benefit from the information about everything they own. The white paper, Breakthroughs in Managing Tangible Assets: Completing the Picture of Wealth, explores the issues surrounding tangible asset management and presents seven steps for addressing them. These issues include: determining value and authenticity, keeping proper documentation, maintaining adequate insurance, and optimizing estate and tax planning.

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