In fact, according to Insurance Business America magazine, “…fine art broker Sotheby’s recently estimated a 400% increase in art buyers since the market boom in the early 1990s.” They also noted that “…fine art insurance may also be on collectors’ minds with art insurance claims topping $500 million following Hurricane Sandy”.
While some situations cannot be prevented or avoided, having the proper protection when they do occur helps provide some level of relief while contending with other chaotic issues that may not be as simple to resolve.
The fine arts world is unquestionably a high risk, high value industry which requires an extensive depth of expertise in managing these types of materials and properties. The Gallagher Fine Arts Practice is compromised of domestic and London-based Gallagher fine arts industry experts as well as those from the acquisition of New York-based Haber/Fischman Insurance that helps place coverage internationally. We provide access to an extensive foundation of knowledge and experience from professionals within one of the most predominant worldwide leaders specializing in the “art of insuring art” – the Gallagher Fine Arts team.
When partnering with us, you will have a team that can offer solutions tailored to your needs, risk exposures and collections. We offer:
- Access to all major markets and specialty underwriters in the U.S. and internationally.
- Property and catastrophe liability, business interruption and indemnity coverages, and security breach and theft protection.
- Comprehensive coverage options and valuations with an established understanding of the risks delivered in innovative and diverse solutions that include flexible coverage options, terms and conditions.
- Expert protection through a full range of services and the ability to place and service all lines of coverage.
- Professional claims handling with staff that has the knowledge and experience to ensure the prompt and fair settlements of all claims.
- Efficient technical and support staff from a team that guarantees the expedient and accurate issuance of policies, endorsements and certificates of insurance.
- The Gallagher gold standard of service excellence from a dedicated staff focused on everything from responsive follow up on questions to binding coverage for a last-minute shipment and critical support for emergency claims.
The Gallagher team creates unique risk solutions and insurance coverage for:
- Museums and cultural institutions
- Art galleries, fine arts dealers and auction houses
- Large historic, sports and natural materials collections
- Artists, artists’ estates and artists’ foundations
- Corporate art collections
- Non-profit organizations, universities and public installations art collections
- Jewelers including manufacturers, retailers and wholesalers offering precious gems, materials and more
- Fine art exhibits on display
- Other high-net worth collectors and personal collections that include art, jewelry, wine furs and other unique collectibles