Kierstin Johnsen, Team Lead, Vice President, Fine Arts, Risk Strategies
Kierstin Johnsen, Team Lead, Vice President, Fine Arts, Risk Strategies, New York
When you purchase a piece of art, you want it to be the real thing. No collector wants to discover they’ve purchased a forged Degas or Monet.
For art investors, the question of authenticity takes on an added layer of importance. Investors in an art fund purchase fractional shares of a work and earn a return when it sells. They are obviously concerned about what the risk of forgeries would mean for their investment.
Abby Thomas is the collections manager for Masterworks, a fine arts investment company. She turned to Kierstin Johnsen, team lead and vice president of fine arts for Risk Strategies, when the company’s investors expressed concerns about issues of authenticity.
Authenticity isn’t covered under a standard fine arts insurance policy, so Johnsen took members of the Masterworks team to London, where they explained to carriers why they needed coverage and why there was scant risk of a claim on an authenticity policy. They got the coverage they needed, and at a reasonable price.
“Kiersten was there for us every step of the way. We got a small amount of authenticity coverage, which I believe is the first the underwriters had ever approved.” Thomas said. “It was a huge success for everyone involved.”
This year, Masterworks also opened its first physical space for its collection. Johnsen helped make sure all the art was protected during that process.
2024 Fine Arts Power Broker Winners and Finalists
What is a Power Broker?
A Risk & Insurance Power Broker® is an individual who stands out among their peers for the exceptional client work they have delivered over the past year. While brokers play many key roles in the insurance industry and risk profession, a Power Broker® award recognizes problem solving, customer service and industry knowledge.
Our goal is to broadly recognize and promote outstanding risk management and customer service among the brokerage community.
Who selects the winners?
Power Brokers are selected by risk managers based on the strength of the testimonials they provide to a team of 15 Risk & Insurance editors and writers.