Coverage in case of art theft and damage

Every theft of art is a reminder to collectors and museums that their treasures are at great risk. According to Interpol, annual losses from art theft total about 5 billion euros. Among cases of art theft, there has been a drastic increase in armed robbery. However, art works are also subjected to less spectacular risks. It is noteworthy that more than half of all damage is a result of the complexity and challenges of everyday museum operations, due to incorrect storage, or during exhibits or transport. That is why individual insurance coverage is essential.

Why should you choose us?

Our service does not end with the provision of insurance coverage, but continues daily with intensive support in the event of a claim. Of particular importance to us, however, is the intelligent prevention of claims.

The MRH Trowe “Art & Lifestyle” team of insurance experts, art historians and risk and claim managers ensure that you receive highly professional and individual insurance solutions.

State liability

Public museums rely on the liability of the state. However, state liability applies only to damage or loss of art objects on loan for exhibits.

For public museums, state liability is attractive because they do not have to pay any insurance premiums. On the other hand, public museums or their sponsors generally bear the risk of damage to in-house collections. Since private lenders rarely accept state liability, public museums also need art insurance. For this purpose, we offer special art loan insurance policies.

Special policies for galleries, art dealers, and antique dealers

Galleries and art and antique dealers face diverse risks in their everyday business operations. In-house exhibits and those entrusted to galleries are exposed to many risks – on their business premises, but also at trade fairs, exhibitions, private viewings, and restoration/frame shops. Risks also occur during photography, appraisal, auctions, or trial hangings at customers’ premises, and also when in transit.

Coverage highlights for galleries, art dealers, and antique dealers

• All-risk coverage
• Protection at trade fairs, exhibits, private viewings and customer appointments
• Protection during restoration, framing, auctions, photography
• On all transport routes
• Optionally for your business facilities, glazing, interruption of business and business liability insurance

Coverage highlights for auctioneers

• All-risk coverage for goods up for auction
• Protection for the entire auction process from delivery to acceptance of the bid: in business premises, art warehouses, at restoration shops, assessors, frame makers and photographers
• Protection for commissioned and proprietary art objects
• Protection for exhibits on tour
• On all transport routes
• Optionally for your business facilities, glazing, interruption of business and business liability insurance

We offer custom tailored insurance solutions for your art business.

Why insure art in businesses?

Art in company buildings is not part of the ordinary business furnishings. Anything aside from purely decorative art is generally not adequately covered by business contents insurance, if at all. Some examples are contemporary and historical paintings, drawings or valuable sculptures.

Art insurance for businesses protects your corporate values

Our art insurance, which is specially tailored to businesses, allows for the exhibition of works of art from collections in public areas such as foyers, hallways, meeting rooms or restaurants. In such prominent locations, works of art are subject to potential risks, such as damage or theft. Extend your insurance coverage with a custom tailored art insurance policy for your business that allows for the unique characteristics of art. This will protect your business assets against immaterial damage or financial loss.

All-risk insurance coverage for art in businesses

Art insurance based on all-risk coverage is an important supplement to business contents insurance. Art objects are covered by business contents insurance – if at all – only to a limited extent and only for single risks.

All-risk coverage offers insurance protection for all risks and types of damage:

• Compensation in case of loss, theft, destruction, virtually any type of damage
• Damage caused by yourself or third parties, including mishaps

Excluded risks include:

• War
• Nuclear energy
• Inherent vice loss
• Deliberate intention
• Insufficient packaging

In addition, our experts will assist you with the assessment and valuation of your collection. We offer consulting services for transport, packaging, restoration, security measures and lending, to ensure optimal protection of your works of art.