Cover Protecting the irreplaceable (Photo: Chubb Life Hong Kong)
Protecting the irreplaceable (Photo: Chubb Life Hong Kong)
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As an estimated US$83 trillion in wealth globally – including significant art and collectible holdings – is set to change hands between generations in the coming decades, the definition of legacy is shifting.
Globally, in 2025, high-net-worth individuals (HNWIs) allocated a substantial proportion of their wealth to their collections, with an average of 20% of this wealth dedicated to art, according to The Art Basel & UBS Survey of Global Collecting 2025. From the corridors of Art Basel Hong Kong to the complexities of intergenerational planning, Chubb examines why protecting collections requires more than an insurance policy – it requires a philosophy of preservation.
The momentum and energy from Hong Kong’s recent art season have sharpened the focus on a much larger, structural transition: the long-term preservation of generational wealth. For the city’s most significant collectors, the dialogue has moved decisively beyond the excitement of acquisition toward the long-term protection of a legacy. According to the survey, 84% of HNWIs globally have inherited artwork, accounting for almost 30% of the works they own. Families are reimagining how they manage these complex assets, as art is a cornerstone of legacy planning.
Protecting the irreplaceable
While art now represents a significant portion of the modern HNWI portfolio, a notable protection gap often persists. Many collectors operate under the assumption that standard home insurance provides sufficient cover. In reality, these baseline policies rarely account for the rapid appreciation of specific artists or the complex risks inherent in a global collection, leaving significant works underinsured.
Above Chubb Life Hong Kong presents Life Chapters at Art Basel, an immersive inquiry into the life stories we shape and legacies we leave. (Photo: Chubb Life Hong Kong)
Chubb Life Hong Kong presents Life Chapters at Art Basel, an immersive inquiry into the life stories we shape and legacies we leave. (Photo: Chubb Life Hong Kong)
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"Art is a living asset; its value is fluid and its requirements for care are highly specific," said Scott Simpson, President for Chubb’s general insurance business in Hong Kong and Macau. “With the ability to provide cover for values of over US$250 million, our fine art team provides bespoke solutions that can protect the entire lifecycle of a work – including the shipping and installation processes where the risk of damage is highest."
As a global leader in fine art insurance, Chubb occupies a unique space at the intersection of culture and commerce. This depth of expertise extends beyond the policy to the very physical journey of art itself.
The philosophy of protection extends into every aspect of clients’ lives, including their broader wealth planning needs. “Our clients entrust us with what cannot be replaced – their health, their families, their futures, and the enduring legacies built over a lifetime. Our responsibility is to provide them with the confidence that what matters most is always protected,” said Belinda Au, President of Chubb Life Hong Kong and Head of North Asia.
Above Commissioned by Chubb Life Hong Kong, Thai artist Wit Pimkanchanapong presented the architectural installation Life Chapters in Art Basel HK 2026. (Photo: Chubb Life Hong Kong)
Commissioned by Chubb Life Hong Kong, Thai artist Wit Pimkanchanapong presented the architectural installation Life Chapters in Art Basel HK 2026. (Photo: Chubb Life Hong Kong)
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Reflection in Motion: Life Chapters
This commitment to protecting Chubb Life Hong Kong’s customers’ legacy was depicted during Art Basel Hong Kong 2026 through Life Chapters – an architectural installation by artist Wit Pimkanchanapong, presented by Chubb Life Hong Kong. The shifting maze of moving walls prompted visitors to reflect on how daily decisions shape family legacies, and why having the right protection in place makes all the difference.
As Pimkanchanapong observed, “A maze is a very literal representation of life, which isn’t linear or determined. There are many entry points and many hidden possibilities. The experience quickly becomes less about the structure and more about the people inside it. You realize it’s not about you alone.”
As Art Basel’s Official Show Partner for the third consecutive year, Chubb Life Hong Kong reaffirms the company’s longstanding role in protecting customers’ lifetime of work, knowing they have the protection and confidence to shape their own stories for generations to come.
To find out more about Chubb’s insurance, please visit chubb.com/hk
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