Increased interest in fine art and collectibles in recent years has resulted in growing number of art-related purchases by individuals and corporations around the world. Fine art has also emerged as an alternative financial vehicle to build wealth through investment. These endeavours create complex challenges and new risks that require sound insurance management, advice, and risk transfer programs that safeguard valuable assets.
FINE ART INSURANCE SERVICES
Fine Art insurance is a specialised product that takes into account the unique nature of the items insured and offers benefits generally unavailable through standard property or business insurance. Subject to certain exclusions and restrictions these benefits can include:
Insurance for Fine Art or collectibles on an ‘All Risk’ of physical loss or
physical damage basis.
Cover for partial loss of stock arising from damage, and the cost of restoration and consequent depreciation in value.
Cover can be included for transits anywhere in the world.
Cover for static risk at locations other than the insured’s main address.
RISKS COVERED
Our specialised services and solutions are designed to safeguard financial investments in a range of fine art and collectibles. We provide a range of policy options which can be tailored to meet your client’s needs as art dealers, galleries and museums.
We can arrange coverage through a specialised facility underwritten by certain underwriters at Lloyd’s of London or other specialised insurance markets, which provides protection for various kinds of specie and fine art including:
Taking into account the individual needs of our clients we are also able to offer a range of additional insurance products which include:
Public & Products Liability
Building/Property
Consequential Loss (loss of profits)
Marine Transit
Voluntary Workers
Corporate Travel
Individual Injury & Sickness
Workers Compensation (in some States)
This webpage contains general information, does not take into account your individual objectives, financial situation or needs. For full details of the terms, conditions and limitations of the covers, refer to the specific policy wordings and/or Product Disclosure Statements available from Marsh on request. Marsh Pty Ltd ABN 86 004 651 512, AFSL 238939 arrange the insurance and is not the insurer.
The Fine Art insurance products above are underwritten by Hiscox Syndicate 33 at Lloyd’s of London. When arranging those insurance products, Marsh Pty Ltd (ABN 86 004 651 512, AFSL No. 238983) act for you. When arranging renewals of the policies Marsh acts under a binding authority on behalf of the insurer and not on your behalf. The Other Insurance Solutions referred to above are underwritten by various insurers. When arranging those insurancesMarsh Pty Ltd will disclose to you the basis upon which it acts. 10/0224
