February 27, 2026
The challenges facing the risk management industry from an evolving art and collectibles sector were the subject of a groundbreaking conference hosted by The Peter J. Tobin College of Business’ Center for Executive Education (TCEE) on February 25 at St. John’s University’s Manhattan, NY, campus.
The first-ever “Art at Risk” conference drew more than 100 insurance industry professionals to a daylong series of panel discussions focused on all aspects of insuring rare collectibles—from underwriting to value assessment and loss control. Sponsored by Alliant Private Client, a leading risk manager for high-net-worth individuals and companies, the conference examined emerging trends in the industry, including the evolving collectibles market.
No longer limited to artwork and jewelry, the modern collectibles sector includes digital assets such as non-fungible tokens (NFTs); pop culture artifacts; fine wines and spirits; and more, experts said.
“We were recently presented with a collection of live snakes,” said Muys Snijders, Senior Vice President and Head of Art Services at Private Client Select, a Berkeley Heights, NJ-based insurer focused on homes, cars, yachts, and fine art.
“We went through this in a very methodical way,” Ms. Snijders continued. “First, we discussed how to price the snakes to make sure they are not over or underinsured. We figured that out. Then we had to account for the condition of the snakes, including monitoring their food and vet appointments. Lastly, we had to decide what to do if one escaped. Ultimately, we decided we were not going to insure this collection.”
Millennial and Gen Z collectors have less traditional tastes than older generations, experts said. For that reason, TCEE brought industry thought leaders together to discuss how these changing tastes are reshaping the industry. Among the moderators was alumnus Manuel Padilla ’92TCI, Vice President, Risk Management and Insurance, MacAndrews & Forbes, based in Manhattan, and Adjunct Assistant Professor, the Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science (GSRM). Mr. Padilla led two panel discussions, including one on art finance and estate planning, an emerging issue as baby boomer collectors begin to pass away.
Mr. Padilla noted the complexity of risk management in the art and collectibles space, which requires a more comprehensive study of asset protection. “It requires more than simply purchasing insurance,” Mr. Padilla said. “We brought together risk managers, insurance professionals, and leading art experts for a comprehensive look at how art risks are evaluated, structured, financed, and protected across the market.”
The “Art at Risk” conference was held six months after thieves stole France’s crown jewels, valued at $102 million, from the famous Louvre museum in Paris. While four suspects have been arrested, the whereabouts of the jewels remain unknown.
Theft dangers were clearly on the minds of the TCEE panelists, but so too were other issues, including how insurers can effectively manage risk as younger collectors move away from traditional blue-chip artworks to investment alternatives such as handbags, music industry and Hollywood memorabilia, and Pokémon cards. “They are buying vintage whiskey rather than wine, sports memorabilia—not the game-worn Babe Ruth jersey, but things from their own generation,” explained Liz Von Habsburg, Cofounder and Executive Chair of Winston Artory Group, a Manhattan-based art appraisal service and portfolio manager.
That shift toward new-age collectibles has created issues for insurers in assessing value, Ms. Snijders said.
“A number of younger collectors might just be shopping,” she said. “That always brings risk for insurers because we do not know what a shopper is going to do with the items. They might not look after them. We also see them interested in experiential assets, and I do not know how we issue a certificate of authenticity for those.”
TCEE delivers practical and high-impact professional development opportunities for individuals and organizations through programs in leadership, management, and skills cultivation. “Art at Risk” was aligned with the Greenberg School, which is a national leader in producing insurance-industry graduates. The Greenberg School ranked 11th in U.S. News and World Report's evaluation of the best undergraduate insurance programs in the United States.
Conference attendees were greeted by Henry “Hank” Watkins, the Greenberg School’s Executive Director and Associate Dean, who was delighted by the industry response to the St. John’s and Alliant-led event. “Fine art has always been near and dear to my heart,” Mr. Watkins said. “It is fantastic that we have so many professionals here supporting this event. It is a very vibrant environment here at St. John’s and, we are all proud to be a part of that.”