Category Archives: Uncategorized

5-Year-old destroys $132,000 Art Sculpture

5-year-old Kansas boy knocks over $132,000 art sculpture on display at a local community center. Surveillance video captured the little boy reaching for the sculpture, called “Aphrodite di Kansas City” on display in the lobby of the Tomahawk Ridge Community Center in Overland Park, Kansas when it toppled over.

“It was a piece that was loaned to us that we are responsible for. That’s public money,” Sean Reilly, a spokesperson for the City of Overland Park said. “We are responsible to protect the public investment.”

“The public investment” could have easily been protected with a policy from ArtInsuranceNow.com / Bernard Fleischer & Sons Inc. Our customized insurance policies are geared toward your typical Art Galleries, Museums, Exhibition space, and Dealer businesses.  We combine General Liability and Public Liability (Bodily Injury and Property Damage) into one straightforward policy.

Don’t wait until a loss occurs to learn more. Call us at 800.921.1008 or visit us at ArtInsuranceNow.com

Artwork in Transit; Managing the Risks

The top risks art collectors might face surprisingly doesn’t include theft. In fact, its art that’s on the move that poses the biggest risk. A large proportion of art claims are derived from transit losses. Private collectors enjoy lending, particularly as exhibitions in major institutions can increase value, that’s all very well until something goes wrong.

The movement of art is massive, now art is transported coast to coast, internationally or just to your winter home or local Gallery. When handling artwork, packing for transportation is a top concern for insurance carriers.

Many policies list as a condition, professional packing, meaning it must be packed as someone in the industry would pack it, safe, secure and protective from breaking if possible.

If you use a transportation service, either a fine art mover, a local mover, or common carrier, you must verify if they have or offer Insurance, what are their limits, conditions and the cost of the coverage. Insurance carriers differ and may have restrictions or limitations while your valuables are on the road, on a ship, or in air transit. The most common, efficient and safe way of moving art over long distances, domestically or internationally is by air transport, but it is very common to move the work yourself, so make sure your policy covers self-conveyance.

Some art transporting choices such as those offered by, United Parcel Service (UPS), DHL, Federal Express (FedEx), and other private art handling companies or commercial air freight carriers have limitations on coverages, territory, and deductibles. Keep in mind that while these are services used for fragile and non-fragile fine art, things happen within their control and outside of their control. Looking to your own insurance policy for protection is the right way to limit your financial losses and the quickest way to have the claim settled.

Artists, art dealers, and institutions use these Art transport services regularly, but Insurance, in particular, is the gray area in which most misunderstandings occur. Pay close attention to the bill of lading and understanding the fine print. The standard form limits the exposure of a claim on the art to weight, not value.

Our policies are written either as a schedule or market value less a percentage. Either way, your art will be protected while in transport. Caution, it’s important when securing transit art insurance to add extra days of transport for the unknown delays. Also note the declared value placed in customs forms or the bill of Lading is usually not used when settling a claim but look for wording which would specify to the contrary.

According to FedEx, “shipments (packages or freight) containing all or part of the following items are limited to a maximum declared value of $500: Artwork, including any work created or developed by the application of skill, taste or creative talent for sale, display or collection.

This includes, but is not limited to, items (and their parts) such as paintings, drawings, vases, tapestries, limited-edition prints, fine art, statuary, sculpture, collectors’ items, customized or personalized musical instruments, Film, photographic images, including photographic negatives, photographic chromes and photographic slides.

Any commodity that by its inherent nature is particularly susceptible to damage, or the market value of which is particularly variable or difficult to ascertain.”

According to UPS, articles of “unusual value” are prohibited from being offered for shipment. This definition explicitly includes “works of art.” As the November New York-based auctions ended and Art Basel Miami Beach began, for collectors buying and selling art no doubt demanded lots of their attention, they also should be thinking about keeping their art safe and properly insured as it moves between locations.

With the expansion of the global art market, risks increase. To discover a larger number of buyers, auction houses and art dealers often display art at multiple locations, including a growing number of art fairs around the world like Art Basel. The high volume of art exchanging hands increases the risk of improper handling and accidental damage and therefore increases the number of fine art insurance claims.

You should know where your art will be stored while in the possession of art dealers or auction houses. This is critical. For example, many consigned works were stored in art gallery basements in Chelsea during Hurricane Sandy, leaving many damaged. Art galleries may also store artwork at an off-site storage facility. Being notified before your piece is moved from one location to another is also a precaution and obtaining confirmation on how it will be packed and transported will help to ensure a smooth consignment process.

Don’t presume that the auction house, gallery owner, art dealer, or shipping company with possession of your artwork has insurance for its loss, theft or damage. It’s very important to have your own fine art policy. Collectors should always consult with an insurance agent. The agent can tailor a policy to a specific collector and discover any special provisions in the collector’s fine art policy.
No matter what risks they face, creating an insurance policy for an art collector requires one-on-one consultation since every art collection is unique, no two collectors are alike and no two collections are alike.

Collectors and their advisers would be wise to work with knowledgeable insurance brokers like Bernard Fleischer & Sons Inc.  that can guide you in obtaining the right fine art insurance for your unique requirements. For more info visit www.artinsurancenow.com and live chat with us or call us at 800.921.1008

Art Exhibition Insurance – The Details

As representatives of the top Insurance carriers that insure exhibitions locally, in multi-states and internationally, we know coverages.

Each company has their own distinct forms to insure the unique exposures related to exhibitions. Coverages while in transit, at the exhibition venue, and in storage vary by company.

Below are some highlighted coverages to consider when placing insurance for an exhibition, how to protect the lenders, and what is the right valuation method.

 

About Exhibition Coverage

Most Art Insurance policies not only insure the work on exhibition, but also the didactic and ancillary materials such as vitrines, hardware, technology, and supportive structures.

A typical Policy I use with my insureds exhibition policy includes:

  • Agreed Value: We usually require a schedule prior to binding, but different terms can be negotiated.
  • Worldwide coverage for transit: is important when gathering works from overseas collectors.
  • Named Location: some policy covers only named location and excludes transit
  • Scheduled or Blanket: 
    • The schedule:  Establishes the price of the work to be insured.
    • Blanket: policy usually has a per item cap along with the onus of proof of value is on the insured.
  •  Loss Payee Certificates: These are issued if a lender requires proof of coverage and insures the check will be made to them in case of a loss.

 

  • Additional Important Exhibition Coverages one should verify if covered:
    • Packing crates, catalogs, and brochures included
    • Nail to Nail coverage:Coverage from point of pick up until returned.
    • Goods in transit
    • Art in storage in-between transit

 

  • Broad, all-risk coverage
  • Blanket limits on propertyin your care, custody, and control at scheduled locations and any other unnamed locations. Beware of sub-limits.
  • Domestic and international transit: To/from list of Exhibition Locations
  • No coinsurance clause penalty
  • Valuation clauses: important to know how a loss will be settled. Our policies are designed for the art industry
  • Coverage for jointly-ownedworks of art should be disclosed and understood how a loss will be paid in those instances.
  • Special clauses for “loss buy back” or “pairs and sets”
  • Relaxed appraisal requirements with most companies
  • Based on Consignment value established at time of pick up.

 

About Exhibition Exclusions and Conditions:

These policy forms usually include the standard and not so standard Exhibition polices.

Wear and tear, moth, vermin, and insects.

Damage resulting from any repair, restoration, or retouching process.

Nuclear, radiation, biological or chemical contamination.

War, invasion, an act of foreign enemies, hostilities, military or usurped power.

Confiscated, damaged or destroyed by or order of any government or public or local authority, except if taken at the time of a fire to prevent it’s spread.

In Conclusion: Art insurance has many variables and sections which can be negotiated, if you are a knowledgeable Art Insurance broker.

How Editions and Negatives are Valued

The value of Editions and Negatives vary.

I was recently reading an appraisal trying to establishing values on Editions and Negatives for a sale of the collection.  I then started to read different policy forms to see how insurance companies would payout if there was a loss. How art is valued varies, read on.

  • Current market value is the present day value.
  • Future value on a single item is an unknown, hard to project the future.
  • The original from which multiple proof editions are made has a value from being the original #1, but each type of edition and sequence has a value.
  • If all editions are printed and no future editions are ever made, then that inventory is fixed so a total can be calculated accurately. Now, if that inventory does not sell in 2 years for example, then the inventory is overvalued and total should be lowered.
  • A photo negative has value and each copy has a value, but unless the negative is destroyed the copy has little value.
  • With digital photos and copies, there is no degradation in future copies and unless it is hand numbered by the artist then there is little value.
  • If you have the Getty photo library, then all photos have a future value based upon licensing fee and there is no physical loss but there is a Business Interruption loss

Visit www.ArtInsuranceNow.com to learn more, apply here or feel free to contact William Fleischer, CIC at 1.800.921.1008

Art Fairs and Protecting Art in Transit

Underwriting the transportation of fine art can be tricky. Using an experienced, trusted agent is important to protect yourself from the pitfalls.

 

Artists, Art Dealers, Collectors and Institutions use art transport services regularly, but insurance in particular, is a gray area in which most losses occur. Shippers charge high rates with high deductibles and with hidden exclusions. Pay close attention to the bill of lading and understanding the fine print. The standard form limits the exposure of a claim on the art to weight, not value. Our policies are written either as a schedule or market value less a percentage. Either way your art will be protected while in transport, in storage and while exhibited.

Whether buying or selling at Art Fairs be sure that your work or investment has the maximum coverage with minimal headaches by using the Trusted One Stop Art Insurance for the Art Community since 1949, Bernard Fleischer & Sons Inc. www.artinsurancenow.com or call 800-921-1008 Ask for William Fleischer, CIC.  so he can help you with all your Art Insurance requirements.

apply online here

Upcoming Art Fairs

 

viennacontemporary underlines it’s significance not only as a marketplace but as a location for the presentation of young and established artists and for the information on the development of the art scene in the focus countries of the program.

Apply for Transit Insurance Here

 

a contemporary art show in the heart of southern California featuring an international slate of artists and galleries. The show features over 500 leading contemporary artists, museum exhibitions, Art Labs, events, and Art Talks focused on collecting. Now in its ninth year, the four-day event attracts over 15,000 high-net-worth collectors. Join us for an unforgettable four days of cutting-edge art, entertainment, and special events.

Apply for Transit Insurance Here

 

FOTOSEPTIEMBRE USA SAFOTO 2017 runs from August 26 through October 30 across various galleries and other venues in San Antonio and the Texas Hill Country.
October 2017 Art Fairs

Apply for Transit Insurance Here

 

  • Frieze London (London, England)

    October 5 – 8, 2017

Frieze London features more than 160 of the world’s leading galleries. View and buy art from over 1,000 of today’s leading artists, and experience the fair’s critically acclaimed Frieze Projects and Talks programmes

Apply for Transit Insurance Here

 

  • Frieze Masters (London, England)

    October 5 – 8, 2017

Frieze Masters features more than 130 leading modern and historical galleries from around the world, showcasing art from the ancient era and Old Masters to the late 20th century.

Apply for Transit Insurance Here

 

Now in its 8th year, Moniker Art Fair aims to spotlight emerging and established talent from a burgeoning and increasingly diverse contemporary art movement forged by its subversive and innovative spirit. Staged during London’s most important art week in October, Moniker Art Fair attracts some of the most talked about artists, galleries and collectors from the finer side of the street art movement and its related subcultures.

Apply for Transit Insurance Here

 

  • Art Silicon Valley (San Mateo, CA)

    October 5 – 8, 2017

Art Miami’s International Contemporary and Modern Art Fair on the West Coast, centrally located between Silicon Valley and San Francisco.

Apply for Transit Insurance Here

 

Texas Contemporary, Houston’s leading contemporary and modern art fair, brings top galleries to the area’s discerning collector base.

Apply for Transit Insurance Here

 

  • FIAC (Paris, France)

    October 19 – 22, 2017

For its 44th edition, which will be held from 19 to 22 October 2017 in Paris, FIAC hosts at the Grand Palais a selection of the most important galleries on the international art scene. The fair reinforces the presence of the leading galleries, covering the modern and contemporary periods, and renews its support for the emerging galleries through a 2017 promotion of the Lafayette Sector which will not fail to surprise by its freshness, diversity and relevance. The fair, an unmissable event this autumn, confirms the attractiveness of the Place de Paris on the market.

Apply for Transit Insurance Here

 

October 27 – 29, 2017
CLIO ART FAIR 2017 focuses attention on the kinds of contemporary art and interventions that are being created by independent artists the world over. Without the constraints and usual concerns of the art business, these artists have no set boundaries – using different materials and media to deviate from accepted art practice definitions in the gallery space. The works exhibited seek to foster a dialogue that transcends prescribed geographies, hierarchies, and markets, expanding the opportunities for greater expression of new media and groundbreaking content.
November 2017 Art Fairs

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The IFPDA is an organization of expert art dealers who champion

the work of artists in the artistic medium of printmaking.

Apply for Transit Insurance Here

 

Paris Photo, the first international fair dedicated to the photographic medium, will present its 21st edition from 9 to 12 November 2017 at the Grand Palais in Paris.

A must-see for collectors, professionals, artists and art lovers, Paris Photo focuses on the diversity and quality of the artists and works presented and proposes an ambitious and demanding public program.

Apply for Transit Insurance Here

 

The Salon Art + Design welcomes the world’s finest galleries exhibiting historical, modern and contemporary furniture, groundbreaking decorative arts, and late 19th and 20th century fine art. Visitors will find designs by the great 20th century masters, as well as creative works by today’s most innovative young artists.

Apply for Transit Insurance Here

Art Insurance for the Young or Established collector

We have been issuing Fine Art Insurance policies for many Young collectors, who belong to the Guggenheim, The Metropolitan Museum of Art,  The Frick Collection , The Whitney , The Morgan Library & Museum, Museum of American Art , Dia Art Foundation , The Jewish Museum , Museum of Art & Design, New York Foundation for the Arts, Museum of the City of New York, New York Botanical Garden, Rubin Museum and these are just a few in New York. These Collectors, who’ve either recently purchased work or inherited work for their collections, have engaged our services to properly insure objects of Art, Rarity, or Historic Merit of Every Nature and Description.  As an Art Insurance Broker, we represent Insurance Companies, like AXA, Travelers, XL, Chubb, Markel, Great American and Philadelphia to seek out policies to cover the unique risks associated with insuring Art.

 

Our Collector’s Insurance policy covers the art you own, anywhere and everywhere. Most polices can focus on 3 situations.

  1. Transit coverage which is where most damages occur.
  2. Coverage at given named location(s).
  3. While in Storage.

Collections can add up in value very quickly and you want to be sure it’s covered in the case of a loss.  A new collector may look towards placing the art pieces on a homeowner’s insurance policy, the majority of the time there are many gaps and exclusions in homeowner policies, which Standalone policies fill.

Even beginning collectors prefer artwork to be restored if something unforeseen happens. Many times the value of restoring effects the current market value, our policies will pay you the difference in value. According to William Fleischer CIC, and President of Bernard Fleischer & Sons Inc. / ArtInsuranceNow.com “A high percentage of claims being filed are partial losses, and most happen when something is being transported. Restoring is an option, but not always the case”.

A little tip; in many polices, the frame is required to be described and have value to be insured. This is a little detail that’s often overlooked. It’s all about properly insuring, it’s important to know your policy, The Conditions, Restrictions and Exclusions. I hope this encourages you to hedge your financial downside and most of all, enjoy the Art.

We are always watching out for the benefit of the established and new collector, it’s what we do best here at Bernard Fleischer & Sons, Inc. / ArtInsuranceNow.com call us at 1.800.921.1008 or visit us at www.ArtInsuranceNow.com to apply and live chat with an agent.

 

Affordable Art Fair NYC Spring begins March 29!

Sponsored by

Affordable Art Fair LogoWe at Bernard Fleischer and Sons, Inc. / ArtInsuranceNow.com (New York City Based Art Insurance Brokers) love it when fine art is made accessible, and one of the premiere events for attainable art is Affordable Art Fair. With all art under $5,000, making it affordable to everyone. This year we are proud to be sponsoring this global initiative to bring art to art lovers in New York City.

The very first edition of the Affordable Art Fair launched in Battersea Park, England in October 1999. 10,000 art lovers descended upon the fair to take advantage of the ease of buying, range of choice, and of course, the affordable prices!

Holding over 230 fairs and spanning over 10 different cities, which today include Amsterdam, Milan, Hong Kong, Hamburg, Brussels, Singapore, and Stockholm. Now, with an extended program that includes live artist performances, innovative talks and tours, hands-on workshops, live music and irresistible restaurants and bars, the Affordable Art Fair continues to grow and bring art to new audiences around the world.

While collecting art is a wonderful endeavor, it is very important to protect an art investment with an insurance policy that is designed specifically for the special coverages fine art demands. Visit us at ArtInsuranceNow.com so we can tailor a policy for your small or extensive unique collection.

After your visit to the Affordable Art Fair NYC Spring, protect your investment with expansive coverage for your Paintings, Prints, Photography, Jewelry and Drawings. Art Insurance policies are written on a blanket basis, Schedules and Appraisals are not required. www.ArtInsuranceNow.com or call 1.800.921.1008

Tate to Exhibit Ultimate David Hockney Retrospective




We at ArtInsuranceNow.com are excited that Tate Britain is staging the most extensive retrospective of David Hockney’s work to date in February 2017. As his 80th birthday approaches, over six decades of Hockney’s work will be shown at the U.K. institution including painting and drawing, as well as prints, photography and videos.
From his first one-man show when he was 26 in 1963 he most recently exhibited at the National Gallery of Victoria, Melbourne Australia (DAVID HOCKNEY: CURRENT). He is credited as being one of the most influential living artists.
Tate Britain’s director Alex Farquharson has said: “David Hockney is without doubt one of Britain’s greatest living artists. His impact on post-war art, and culture more generally, is inestimable, and this is a fantastic opportunity to see the full trajectory of his career to date.”
Hockney is also quite the armchair philosopher and a search of the internet will find many quips and quotes, A book on art conservation which cites an AXA Art Insurance funded research laboratory quotes him as saying “Love will decide what is kept, and science will decide how it is kept”.
AXA Art Insurance is one of our many affiliate partners in bringing you the most comprehensive Art Insurance coverages available; to learn more visit us at www.ArtInsuranceNow.com, fill out an application to receive a fast free quote or call 1.800.921.1008 to protect your art and collectibles. Don’t miss David Hockney, on show at Tate Britain from February 9 until Monday May 29 2017 followed by showings in Paris and New York City.

Travelers Insurance, AXA Art, Markel ART, Chubb Ar,t XL Art, Philadelphia Art, Great American Art, Ironsure Art, USAA Art

 

Artist’s Nightmare at the Museum

Museum in the dark pictureJust imagine, you are an artist without an Artist Insurance Policy and you finally get an exciting call from a museum to tell you that they have chosen your work for an exhibition for several months.  You work extremely hard on creating the exhibit and receive a contract from the museum that says they will insure your artwork while it is on display. A friend from out of town visits and you take them to see the exhibit and notice your prized sculpture in the exhibit is damaged. Immediately, you contact the museum and call for a plan of action; you ask to see the security footage and request more information about submitting the insurance claim. The museum seems uncooperative, explains to you the security cameras aren’t operating, there isn’t any evidence to support your claim the sculpture was damaged while on display and there is no insurance information they can provide for you at this time. You continue to push for an insurance claim, the museum continues to be evasive and you feel like you are getting nowhere. It looks as though the museum is not going to submit a claim on your behalf and the repairs will cost an enormous amount of money and numerous hours of your time.

This is a real-life insurance horror story from cases that the Philadelphia Volunteer Lawyers for the arts (PVLA) have heard over the years. Unsurprisingly, insurance disputes are a common occurrence with PVLA arts clients. The underinsurance of artwork presents artists with various problems which are much more commonly associated with their profession than others. Another unique problem with the underinsurance of artwork is with its valuation. Artwork is often not treated with the same financial diligence as other assets because it can be difficult to place a value on it and can cover a broad range of items including paintings, sculpture, architecture, printmaking, digital graphics, ceramics, collage, photography, statuary, textiles, art glass and other decorative items.

Insuring fine art presents challenges that are not encountered with other types of real property; an experienced art insurance broker like Bernard Fleischer & Sons (ArtInsuranceNow.com) can address these problems and provide an art insurance policy with coverage fitting the particular situation. Our artist insurance policy values your art at market value less a percentage. The policy covers your art anywhere in the world, while at exhibitions, galleries, storage and in the studio including transit, materials and tools. Art insurance buyers require the services of knowledgeable insurance professionals because “It’s a different type of insurance”. With most insurance you are just buying a financial promise, any insurer knows how to fix a roof or rebuild a building but with art insurance you are buying knowledge as well. Bernard Fleischer & Sons (ArtInsuranceNow.com) are leaders in appropriately insuring artists, art dealers, collectors, conservators, galleries and museums. For more information visit our website, call 1.800.921.1008 or fill out an application here.

Why you should be insuring your Jewelry

The differences in homeowner’s policies and Jewelry coverage are vast and it’s best to make sure you are covered properly. The typical per-theft claim limit is $1,000 on a homeowner policy without a schedule. That’s the jewelry limit for an entire claim, not a $1,000 limit per item Homeowner policies also have deductibles which apply to Jewelry.

Many homeowners’ policies exclude if you lose stones. If the stone falls out of the setting, you’re not covered at all. Most insurance companies include the jewelry insurance with sub-limits of $500 in their standard homeowner policy. With our standalone policy, we can increase the limit up to $250,000 and include watches, silverware, collectibles and art collections.

Diamonds may be a girl’s best friend, but when diamonds go missing, insurance is your best friend or your worst enemy if you don’t have enough coverage. Value, sentiment, emotion, and your aversion to risk should all play a part in choosing an insurance policy for your jewelry. This is where our newly expanded jewelry coverage fills in the gaps.

Coverage Limits.
Our program insures your Jewelry on a blanket basis up to $250,000. The only requirement is items valued over $50,000 must have supporting documentation.

Blanket/ Scheduled
We insure your Jewelry on a blanket Basis, only Items over $50,000 require to be scheduled. This lets you insure all your items, hassle-free. There is no requirement for appraisals for items under $50,000.

We cover real life.
Some policies will only cover theft or loss due to a disaster claim, we realize that you can’t always pinpoint how or where your jewelry disappeared so we cover mysterious disappearance, coverage that’s often overlooked by other policies.

Traveling?
Homeowner’s policies do not cover outside of the home, our coverage follows you worldwide. Never worry about having to leave your favorite jewelry behind.

Damage to Rings, Watches, and Necklaces?
Diamonds are the hardest known mineral, they still aren’t impervious to harm. Diamonds can crack when dropped on a hard surface or fall out of their settings when subjected to impact. Rubies, sapphires and other precious stones are also susceptible to chipping, cracking, or breaking. Emeralds are especially brittle, and pearls can easily be damaged or crushed if improperly protected. Homeowner’s policies typically do not cover damage to your rings, watches, and necklaces.

Personal Jeweler?
Many people have a preferred jeweler, as opposed to just having someone trying to sell you something in the display. A Personal Jeweler really gets to know you and your tastes. Well, you won’t have to give them up. When placing a claim with us you get the same quality workmanship that you are used to.

Loss buyback.
There is sentimental value in the keepsake, our policies give the option of repurchase if lost or stolen and later recovered or it declared a total loss.

For more information visit artinsurancenow.com, call us at 800.921.1008 or fill out EZ application here.