Firm Wire items are announcements made by the firms themselves. The desk confirms that the announcement was published and reproduces its factual content. It does not verify the claims in it, and publication is not an endorsement.
Mishcon publishes notice of Simon Chadwick’s luxury insurance commentary
Mishcon de Reya said partner Simon Chadwick commented for Luxury London on what it called an underinsurance epidemic among luxury collectors. The firm said Chadwick warned that outdated valuations leave shortfalls after loss, theft or damage, that insurers may challenge a claimed value unsupported by a recent appraisal, and that collectors should revalue assets for insurance every two to three years or sooner when markets move.
Key points
- Mishcon’s notice discussed authentication records.Mishcon de Reya
- The publication addressed periodic valuations for insured collections.Mishcon de Reya
- The firm’s notice covered documentation supporting ownership and value.Mishcon de Reya
- Mishcon said the commentary considered disputes arising after a loss.Mishcon de Reya