With many of our clients deeply involved in the arts: owning, operating and supporting art galleries and the fashion world, our commercial markets are at the forefront of dynamic coverages that protect businesses, assets and individuals in an ever-changing arts world.
Our underwriters are familiar with the expectations of gallery owners regarding their property, art inventory including borrowed or loaned items as well as items being sold on consignment. As the coverage requirements change, both in function and value, the need for high-limit capacities and flexible policy form are critical. Our ability to accommodate large and diverse collections, as well as smaller collections and specialized collections, is extensive in the landscape of available risk protection. We can offer blanket or itemized, single or multiple locations, and issue appropriate certificate holder forms. We understand that expert and timely underwriting is of utmost importance. Without such experience, gaps and lack of important coverage can occur.
As many galleries have expanded and adapted, so has the use of their space. Properties of historic significance as well as more standard gallery/dealer space have incorporated promotional use or event space into their marketing and sales strategies, therefore, coverage has to be flexible more than ever. Properties of historic significance that are used for commercial purposes pose a unique challenge to insure. Often, the value of these buildings lead to excessive premium or incomplete coverage. Our access to Historic Property coverage allows for Agreed Value, Historic Replacement Cost, and Cash Settlement Option, among many other features with highly competitive premium.