As reported in The Art Newspaper, Richard Northcott, Exec Director of the art division of Heath Lambert, a London re-insurer, says that re-insurance companies — firms that protect specialist fine art insurers — are becoming increasingly wary of insuring too much art in any one place. This could have a particularly sobering affect on art fairs, especially large ones with an aggregation of expensive peices.

“For a long time nobody in the insurance world was monitoring the cumulative value of art shown at fairs,” explains Northcott. “But in the last two or three years the industry has become a lot more sophisticated and a lot more aware of the issue.”