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jerryking : aig   12

5 Ways to Value Your Collection, Whether It’s Fine Wine or Shrunken Heads
March 1, 2019 | The New York Times | By Paul Sullivan.

Collectible assets include wine, spirits, coins, trading cards as well as more unusual items, like lighters, belt buckles and even shrunken heads. These collections cost money and time to assemble and certainly have a value to their owners, but can they be considered legitimate investments? That depends on the market.

For many collectors, the only option to buy, sell or even value these assets is through online auction platforms like eBay or enthusiast sites, but for others, their possessions are treated as fine art.......the market for collectibles, which are often valued in the millions of dollars, may not always be so easy to weather. It can experience sudden surges that put desired items out of the reach of true collectors or it can collapse, wiping out the gains speculators thought they had made.

In an economic slowdown, how these investments are treated depends on supply and demand as well as unpredictable forces like fashion and popularity.....Collectibles can be broken into categories determined by provenance, rarity and even a moment in time. Here are five issues to consider when weighing the investment potential of your collection.....
(1) The standouts in the crowd - Leading the pack are high-quality items that have broad name recognition.
(2) High risk, high reward -
(3) Not all collectibles are investments- jewelry is not an investment....because the market is driven too much by changing fashion.
(4) Obscure and difficult to sell - establish the value of esoteric collections by using third-party appraisers. But insurance companies like A.I.G. value these collections by their replacement value, not by the price someone would pay for them.
(5) A market downturn - =hether it’s shrunken heads, 1,000 bottles of wine or sheets of trading cards, a ready buyer may not be available — or may want to pay much less (i.e. a step change in the valuation).
collectibles  collectors  high-risk  howto  obscure  valuations  AIG  auctions  assets  brands  eBay  economic_downturn  esoteric  fine_arts  high-end  high-quality  investing  investments  passions  step_change  unpredictability  wine  whisky  online_auctions 
march 2019 by jerryking
At 88, Former AIG Boss Is Building a New Empire -
July 5, 2013 | WSJ | By LESLIE SCISM.'Hank' Greenberg Is Quietly Building a Fast-Growing Insurance Conglomerate
Second_Acts  insurance  entrepreneur  AIG  Hank_Greenberg  Starr  reinsurance 
july 2013 by jerryking
Book Review: The AIG Story -
February 5, 2013 | WSJ | By JAMES FREEMAN.

Insurer to the World
In the 1960s, AIG insured a CIA mission to retrieve a sunken Soviet submarine from the floor of the Pacific Ocean.
AIG  insurance  book_reviews  entrepreneur  Hank_Greenberg 
february 2013 by jerryking
Post-AIG, Greenberg Drives On -
June 15, 2007 | WSJ | By LIAM PLEVEN.
Mr. Greenberg: It hasn't changed. C.V. Starr & Co. had four [insurance] agencies. We obviously had to find new companies to represent, which we did -- didn't take very long to do that. We've now started another new general agency, in the health field. Then we have a Lloyd's syndicate that we started, and that syndicate also is represented in China. We're in the midst of forming a life- and general-insurance company in Bermuda.

In Starr International, we have an office in Hong Kong, an office in Shanghai and in Beijing, and [we're opening an office] in Russia.

Russia today is a different country than it was five, 10 years ago. The oil-and-gas revenues have changed the economics in Russia. There's more than a trickle-down effect to a middle class. Moscow's probably the most expensive city in the world. Every time I go there, it's more expensive. I may pitch a tent next time.

We started a commercial-real-estate business. We're looking at a consumer-finance business, and we're looking at a residential-mortgage business. When you start something, you're like a magnet. You attract other opportunities.

The vision I have is that we're going to be partly merchant bank and partly still in insurance. What is a merchant bank? A merchant bank, in my definition, is that you don't always invest to create profit like a private-equity firm and liquidate in five or six years. You may keep it in perpetuity, or you may sell it at some time down the road, five, 10, 15, 20 years. There are very few merchant banks left. Most have a quick trigger. I think we can have a longer-term horizon.
Second_Acts  insurance  entrepreneur  AIG  Hank_Greenberg  commercial_real_estate  merchant_banking  long-term 
june 2012 by jerryking
Managing product recall risks no child's play for toymakers - ProQuest
Managing product recall risks no child's play for toymakers
Wocjik, Joanne. Business Insurance35. 1 (Jan 1, 2001): 3,20.
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Abstract (summary)

"The paucity of product recall cover-age is directly related to what insurers see as one of the most threatening issues today-an out-of-control tort system," said Bob Hartwig, chief economist at the Insurance Information Institute Inc. in New York.

Indeed, "you have an increase in product liability claims whenever you have a product recall," Mattel's Mr. Pinner said.

But neither product liability insurance nor general liability insurance covers the cost of product recall, Mr. Hartwig pointed out. "So you need an additional policy."
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Toymakers are finding that product recall insurance coverage is both expensive and scarce, and the market is not expected to improve. Despite recall notices, public warnings and removal of toys from store shelves, the Consumer Product Safety Commission has found that many recalled products that have the potential to injure or kill can still be found in many homes. The CPSC urges parents to take advantage of the "Dangerous Dozen" list of recalled toys. This information campaign is being financed by American International Group Inc.
toys  AIG  CPSC  insurance  Mattel  product_recalls 
june 2012 by jerryking
AIG Offers Crisis-Communications Insurance -
OCTOBER 12, 2011 | WSJ | By ERIK HOLM.

Got a Crisis? Tap AIG (Really)....Chartis, the property-casualty subsidiary of the New York insurer, is offering a new type of coverage to help companies offset the cost of bringing in outside experts when a public-relations crisis hits. Dubbed ReputationGuard, the insurance will pay for policyholders to seek the counsel of two crisis-communications firms, Burson-Marsteller and Porter Novelli, even before a possible crisis becomes public.
crisis_management  Chartis  AIG  reputation  insurance  public_relations  publicity  Burson-Marsteller  Porter_Novelli 
october 2011 by jerryking
AIG's Man in the 'Risk' Trenches -
Profiles Peter Hancock whom AIG hired in 2010 to fix its finances and
this past March thrust him onto the helm of its flagship business, a
sprawling property-and-casualty insurer with roughly 40,000 employees in
over 90 countries. That business, called Chartis, is now the biggest
source of AIG's headaches, after incurring large losses from insurance
policies sold years ago.
AIG  Chartis  insurance 
september 2011 by jerryking
Fatal Risk -
APRIL 5, 2011 | WSJ | By JAMES FREEMAN. Crisis Mismanagement.
The world's largest insurer was separated from the world's most
experienced risk manager at the worst possible moment. Fatal Risk By
Roddy Boyd Wiley, 349 pages, $27.95
book_reviews  AIG  risk-management  Hank_Greenberg  insurance 
april 2011 by jerryking
Material Comfort: Smart Advice for Smart People
January/February 2007 | Departures | By Mike Offit. Lesson 1:
How to Buy Luxury Insurance. There are three large luxury insurers:
AIG, Chubb, and Fireman’s Fund.
high_net_worth  luxury  insurance  howto  advice  AIG  Chubb  Fireman’s_Fund  smart_people 
january 2010 by jerryking BAYING FOR HIS BLOOD: The art of being unpopular
April 6, 2009 | The Globe & Mail | HARVEY SCHACHTER

Edward Liddy's appearance before a U.S. congressional committee to
defend AIG was "a textbook example of how to deliver an unpopular
message in front of a decidedly unfriendly crowd." He defused the
Harvey_Schachter  Communicating_&_Connecting  presentations  AIG 
april 2009 by jerryking

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