Category Archives: Uncategorized

Everyday I learn something New and fascinating – Intaglio.

Today I learned a new word. I was reviewing a schedule of fine art insurance and came across a word which I was not familiar, Intaglio Art.

Intaglio Art, what can this be? So off to the land of Google search, I came across the definition in Wikipedia;

Intaglio Example

Intaglio is a technique in art, in which an image is created by cutting, carving or engraving into a flat surface and may also refer to objects made using these techniques:

 

I then looked up some pictures and this stuff is really cool
We proudly insure this type of work. Let us insure yours, Visit us at www.artinsurancenow.com, call 1.800.921.1008

art insuranceLet me insure yours

www.artinsurancenow.com

 

 

APPLICATIONS:

Art Dealers
Artist Transit/Exhibition/Studio Insurance New Program
Auctioneer
Conservators/Restorers
Corporate Collections
Personal Collections
Exhibitions
Museum Collections
Business Owners Liability

Art Evaluation formulas you might see in an Art Collection Policy

Here are most of the current options found in an Art Collectors Insurance policy

1. Stated Amount based on an appraisal.
2. Market value or appraised value whichever is less.
3. Market value or appraised value. Maximum value 1.5% of appraisal value.
4. Market value – Onus of proof ( insured to prove value) up to policy limit.
5. Unscheduled Items: can be based on maximum value per item –Maximum Blanket limit- Onus of proof for valuation
6. Newly Acquired Property their cash value, but not more than 25% on similar type of policy.
7. Newly Acquired Property the lesser of 25% on similar type on policy or $10,000.
8. The cost of reasonably restoring that property to it condition immediately before the loss
9. The cost of replacing that property with a substantially identical property.
10. Property of Others in your Care, Custody, and control Maximum, based on the agreed amount prior to Loss 25% of Policy Limit,
11. Jointly Owned Property, value as stated in an agreement with the co-owner(s) up to the amount of your interest.
12. A loss to your Art Reference library, including books, catalogs and “data and Media” Settled at Actual Cash Value.

William
William G. Fleischer, CIC
President
29 Broadway, Suite 1511
New York NY 10006
212 566-1881 ext 111
wfleischer@bfbond.com
www.BFbond.com
www.ArtInsuranceNow.com

APPLICATIONS:

Art Dealers
Artist Transit/Exhibition/Studio Insurance New Program
Auctioneers
Conservators/Restorers
Corporate Collections
Personal Collections
Exhibitions
Museum Collections
Business Owners Liability

Artist Insurance Policies include Studio, Exhibition and Transit protection.

Everything has a connection and a direction.  It all started one day while I was riding my Trek road bike on a 70-mile ride on the back roads of Piermont NY.  I always pass a sign which read: Open studio visits and Gallery. As I passed by I decided to stop and check it out. The driveway hill was an 11.5% grade, not fun on the bike but “Art” cheered me on!

I was met by “The Art Student League” Artist in residence program director Gary L. Sussman.  Many cyclists ride by, but it seems very few stop by, especially Art Insurance Consultants.

The Artists residence grounds are amazing. As I approached, I saw many buildings, a big barn, studio spaces and very nice living quarters.  Mr. Sussman explained to me the artist residency program which is pretty comprehensive. 100% of the artists are on full scholarship, no worries of cost, so they can fully focus on the creative process and the artistic energy to experiment and make amazing ART.

I explained to Sussman, a New Insurance program I had developed just for Artists, an Artist Transit/Exhibition/Studio Insurance Program  that insures the finished art piece, percentage of finished in the process of a new piece of Art, while the artwork is at Exhibitions and while in transit, along with libraries and materials.

I further explained to him, what the nicest part about this policy is, there is no schedule, list, or inventory required of values at the time of placing the insurance but is required at the time of loss to prove what the current value is because the settlement is based on current market value minus 30%.  To establish the value at loss time, the artist would substantiate the claim by using previous sales, time and materials to create, photos and other tools which would justify the claim.

The key points of the policy are no schedule, the flexibility to have work made then displayed, Insuring work while in the studio, storage, transit and art shows. These Include materials, reference libraries, and tools.

For more information about this innovative policy and a fast free quote, contact us at www.artinsurancenow.com, fill out an application here or call us at 1.800.921.1008

 

William G. Fleischer, CIC
President
Bernard Fleischer and Sons

29 Broadway, Suite 1511
New York NY 10006
212 566-1881 ext 111
wfleischer@bfbond.com
ArtInsurancenow.com

APPLICATIONS:

How to Insure Prehistoric Art properly.

Prehistoric Art is Art from Ancient Near East, Ancient Egyptian, Greek, Roman, Islamic Art, etc was created on many different types of Median, Ceramic, Gold, Silver, Tapestry, Bronze, wood, stone. etc. over the years these work of art have become scarce, fragile and valuable.

I am insuring a dealer in Indian Art who specializes in Prehistoric Art.  He reminded me that Long Island in NY had one of the largest concentrations of Arrowheads.

Addressing the Insurance coverage for those Art items which you care for, I have a very special understanding of the risk of damage, theft while in the home or in a Exhibitions.

Art Insurance policies are not all the same. Some are written through LLOYD S of London, AXA Art, Travelers Insurance Company to name a few players.  The Art Insurance company will include Transit by Sea, Air & Land. Coverage is usually extended to a Storage facility or the final destination.

To have these items insured, the underwriters in most cases will require a condition report if in long-term storage or if newly purchased, a bill of sale or appraisal.
Visit ArtinsuranceNow.com to complete the Collectors application to cover your prehistoric, Modern and contemporary art.

William

art insuranceart insurance  art insurance

 

APPLICATIONS:

Art Dealers
Artist Transit/Exhibition/Studio Insurance New Program
Auctioneers
Conservators/Restorers
Corporate Collections
Personal Collections
Exhibitions
Museum Collections
Business Owners Liability

How Important is my advice

I have been in the insurance business for over 35 years. The experience and situations I have encountered are many. When it comes to protecting your Assets, there are many variables which one must consider. Not all policies have the same terms and conditions.

Possible Exclusions are many, Earthquake, Flood, Named storms, Mold, Water, Theft from premises. Terrorism, other than Named locations, while in Transit, etc.

Conditional: vary too. Alarm warranties, Shipping, and packaging, Schedules, Unscheduled, appraisals. Notifications for removal from storage, vaults, when loaned at exhibitions, travel outside the continental USA. reporting form,

Valuations: variables are, Agreed amount, Appraisal value, percentage less sale price, percentage plus consignment, Onus of Proof.

Sub-limits: Bouillon, Jewelry, Electronics

Territory restriction, World wide, continental USA,

Deductibles: $1,000, 2,500, 5,000, 25,000, 100,000

Payment Plans: Direct Bill< Credit Card, Wire transfer, Check and Cash.

Insurance Company: Admitted. Non-admitted, Risk Retention Group, Foreign, AM Best Ratings

The above are just a few items which are negotiated during the process.  I like to speak to all my customers to get a sense of what they situations are and how to protect them from a financial loss.

Not everything is ever covered by a policy, most can be.  I have found many different niches which companies give very good policies, service, and prices.

Work with me and you can feel the importance of working with a human who can relate to your Insurance exposures.

www.artinsurancenow.com

William G. Fleischer, CIC

President,

Bernard Fleischer & Sons, Inc.

http://www.artinsurancenow.com/

New AXA Jewelry Collection Policy

Specialty Jewelry Collections AXA Art Policy HighlightsAXA Art recently launched a specialty jewelry product for private collectors of classic antique and designer jewelry. The mono-line, broad coverage product is available in the United States for schedules in excess of $500,000 for focused collections ranging from ancient to vintage to contemporary jewelry.Our specialty jewelry product offers affordable, all-risk coverage on a worldwide basis. The policy can be written as a separate policy or added to an existing fine art policy. This new jewelry collection policy is offered in addition to our scheduled jewelry product for values below $500,000.

 

 

Highlights:

  • Target: $500K up to $30MM jewelry collections, higher limits available
  • Minimum: $500K personal jewelry collections
  • Competitive rates for collections kept in the residence, residence safes and bank vaults
  • Worldwide coverage
  • No restrictions for California earthquake or any coastal windstorm locations including Florida
  • No deductible requirements, deductible options available for various rate credits
  • Coverage for loose, cut gems and stones available
  • Valuation Options: Agreed, Current Market Value
  • Scheduled or blanket policies
  • $50,000 blanket coverage included

 

Submission Requirements:

  • Completed AXA Art application
  • Listing of jewelry in collection with values
  • Purchase receipts or appraisals for items valued at $100K or more

Contact:

For more details about AXA Art’s specialty jewelry program,

please contact your William Fleischer

 

APPLICATIONS:

Art Dealers
Artist Transit/Exhibition/Studio Insurance New Program
Auctioneers
Conservators/Restorers
Corporate Collections
Personal Collections
Exhibitions
Museum Collections
Business Owners Liability

 

 

 

AXA Art Hurricane Season Announcement

Hurricane Season Announcement
Weather Experts forecast active hurricane activities for 2011
AXA Art cautions collectors to put pre-emptive measures in place

NEW YORK — May 18, 2011 — In issuing the outlook for the 2011 hurricane season, experts at the Department of Atmospheric Science, Colorado State University, advise “conditions are favorable for an active season,” along the Atlantic basin. The forecast includes 16 Named Storms, 9 of which will be hurricanes. Of the 9 hurricanes, 5 will be major ones with sustained winds of at least 111 miles per hour, capable of producing devastating damage.

The hurricane season runs from early June through the end of November. Hazards from these storms come in many forms including high winds, tornadoes, storm surges, and flooding. However, while predictions for this year are disturbing, a simple disaster plan along with employing some common sense measures can serve to help mitigate damage or total destruction.

“At the onset of a storm, the most important concern is ensuring one’s personal safety and that of loved ones,” commented Christiane Fischer, President, and CEO of AXA Art’s North American operations. “For collectors, having a disaster plan in place can serve to protect prized possessions and valuable art and collectibles”.

With information gathered from conservators and its worldwide team of expert partners, AXA Art has assembled a guide for collectors including a checklist with key elements in hurricane catastrophe prevention. Below is an excerpt from the AXA Art Hurricane Disaster Plan Article, which can be downloaded in full on the AXA Art website.

Checklist – Before the Storm:
1. Maintain a list of emergency telephone numbers which includes those of your insurance agents/brokers, insurance company (note your policy number), conservators, art storage facility and local freeze dry facilities. Keep an extra copy with your insurance agent.

2. Prepare and maintain a fine art inventory file with images of each work, the name of artist or maker, title, dimensions, media and year. Include invoices for each of your valuables. Protect your documents by securing important papers in water- and fire-proof safes or storage boxes. In addition, keep a copy of all documentation at a separate, secure location.

3. Consider a hurricane evacuation plan for your art collection. Contact local art storage facilities that could potentially provide secured storage space prior to the arrival of the Tropical Storm or Hurricane. Alternatively, you may wish to build a storm closet within your home.

4. In the absence of a hurricane evacuation plan, install an HVAC climate control system with a backup generator, which can protect against rising humidity levels that can damage artwork.

5. Prepare your home by adding protective hurricane shutters and roof hurricane clips.

6. Make sure you have supplies to be able to bolt down outside furniture before the storm approaches.

7. Prepare a stock of emergency supplies to include flashlights, fans, dehumidifiers, hurricane lamps and oil, matches, battery-operated AM/FM radio with extra batteries and coolers. If you have an emergency generator, make sure it is above possible high water levels. Include a waterproof instant camera to use to document any damage.

8. In preparation for potential evacuation of an approaching storm, each household member should have a backpack ready and include a change of clothing, bottled water, nonperishable food items such as granola bars, as well as an up-to-date list of any medications with dosage information. Include all doctors’ names and phone numbers. Also include contact and meeting information for the household, child care supplies or special care items.
About AXA Art
International reach, unrivaled competence and a high-quality network of expert partners distinguish AXA Art, the only art insurance specialist in the world, from its generalist property insurance competitors. Over the past 40 years and well into the future, AXA Art has and will continue to redefine the manner in which it serves and services its museum, gallery, collector and artist clients across North America, Asia, and Europe with a sincere consideration of the way valuable objects are insured and cultural patrimony protected. For more information, visit www.axa-art.com.

This announcement is advisory in nature and is provided for informational purposes only. It is offered as a resource to be used by insurance advisors and insureds in maintaining an appropriate loss prevention program. No liability of whatsoever kind is assumed by AXA Art by reason of the information contained in this announcement.

To recieve a quote with AXA Art visit http://www.artinsurancenow.com/

Collectibles Insurance MythBusters:

Collectibles Insurance MythBusters:

  1. Insurance Myth: My Art collection or Collectible collection is covered by my homeowners’ insurance.
    The FACTS: In most cases, your homeowners’ is designed to cover personal property and is not nearly enough to protect your collection.  There is no coverage for Breakage and sub-limits for theft. Many Homeowners Policy, will not cover your collection off premises, not even if lent to a Museum or Art Gallery.
  2. Insurance Myth: No insurance policy would cover my unique collection.  May it be Ceramic Art, Glass Art, Sculptures, Fine China or Unique objects if it has value, it can be Insured.
    The FACTS: There are many Insurance companies like  AXA, Travelers, Markel, Chubb or Chartis that will cover most types of collections, for a wide range of losses, Each company has a unique policy, coverage forms, exclusions, and limitations.  This is why, you need to speak with us, to help you review the differences.
  3. Insurance Myth: I’ll have to itemize every item in my collection and get it appraised to get insurance.
    The FACTS: No appraisals are necessary depending on if the Art or collectible has a reasonable high Values.   You estimate the value of your collection and determine the amount of insurance.  Although an inventory is not always required at the time of application to purchase insurance.  Bernard Fleischer & Sons, Inc, strongly recommends its customers maintain an inventory to streamline, provide proof, and expedite claims in the event of a loss.
  4. Insurance Myth: Insuring my collection will cost me a fortune.
    The FACTS: A Fine Art/collectibles policy is typically less costly than scheduling items on your homeowner’s insurance.  Call us today to get a quote for your prized collection.

Title Insurance for Art Photographs and objects of value

Professional and Collector get what they want, the Insurance of Good title, but what they lack, is the Authenticity of the Valuable object.

Were you once the proud owner, and then it went missing?
With theft an increasing risk in the art world, it has become easier to unknowingly buy stolen artwork or valuables, even if you check the stolen Art register websites.
Just imagine the nightmare of a collector and fellow enthusiast sitting down to dinner, and there the painting or the Victorian candlesticks on the table that was previously stolen from their home?
By law, the new owner has no right to the item and has to return it. He will be out of pocket for the amount that was paid. In such events, defective title cover will cover the unaware owner up to the specified sum insured.
Some of the William Kentridge works that were recently stolen would give rise to defective title cover towards the new owners purchasing them.
Forgery
Forgery remains prevalent. Last month five people in Chicago were indicted for forging and selling prints by a range of major artists including Dali, Lichtenstein, Warhol, and Haring.
Read all about it!
Presently, Aris Insurance Company has begun a new Insurance program that will Guarantee the Authenticity, the works are original and actual made by “the Artist”.

They will work with the production of dead and alive Artist. Usually, they will develop an arrangement where a certificate of Authenticity would accompany the art.  This way moving forward and through history. Unlike many Foundations, who have the final say if it is real, actually made by the artist.

Recent Success Stories

Recently, I received an email from a new Art Gallery in Texas.  She and the partner have been in the prereferral part of the art business.  Their experiences were in promotion and advertisement of Artist.  A few years past, they had an opportunity to open a pop-up gallery selling prints, Paintings and non-fragile sculptures in a busy section of Galveston.  They were at the stage of having the first show in a permanent location; this is when, they turned to me, for their Art Insurance needs.  I was able to secure a great Fine Art Insurance policy for $1,300.  This covered $50,000 on location, unnamed locations and $20,000 transit.

So I rode into the sunset feeling good about the terms, cost and turnaround time, for my new client.

Call me Anytime 212 566-1881 ext 111 for ART Gallery Insurance

www.artInsuranceNow.com for applications