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Category Archives: Uncategorized
Newly Designed Artist Insurance Policy Protecting your Art.
Our new Artist Insurance Policy is designed for the active Artist. Your Art is covered while in the Studio, in Transit, while at Exhibitions and when in storage. No more worrying about, Theft, Fire, Water Damage or Vandalism. These coverages and more are covered in our Artist Insurance Policies.
Worldwide coverage: Whether you show in Venice, Hong Kong, Paris or any of the Art Basel locations! Everywhere the USA has a trade agreement. Our policy will cover your Art in Transit, Storage and while at galleries and exhibitions.
Highlights of coverages:
- Artwork in the studio, up to $300,000.
- Art is covered While in Transit, At Exhibitions, In Storage and Worldwide.
- A XIV Rated Insurance Company (by A.M. Best).
- No Membership, No fees, No Maximum per item, and No Appraisals or Schedules.
- Very low $1,000 deductible.
- Best loss settlement valuation. Selling price less 30%. Includes Works in Progress.
- Supplies, Canvas, Materials, Paints, Frames, Tools and Reference libraries are also Included.
- Replacement Cost of Studio Tools and Equipment.
For more information or to discuss your particular situation contact me, William G. Fleischer CIC | Principal. T: 212 566-1881 ext.111 or visit us at www.artinsurancenow.com to fill out a quick EZ application for a fast, free quote.
Chubb’s Jewelry Policy “In-Vault Clarification”
In-Vault Jewelry: Itemized jewelry described in the Coverage Summary as “in-vault” must be kept in a bank vault.
There is no coverage for these items while they are out of a vault unless we agree in advance to cover them.
Be careful, no coverage for jewelry in home safes.
Chubb Definition of Loss of Market Value
The loss of market value is determined as follows:
if the amount of itemized coverage for the article is less than the market value immediately before the loss, we will apply the percentage change to the market value immediately before the loss.
If the amount of itemized coverage for the article is equal to or greater than the market value immediately before the loss, we will apply the percentage change to the amount of itemized coverage for that article.
“Percentage change” means the change in market value resulting from the covered loss, after restoration if any, expressed as a percentage.
Response to Chubb white paper report
As a broker who sells Art insurance, www.artinsurancenow.com, Antiques and Collectible Insurance nationwide, I can attest to the increase in awareness of Values across collections. May it be Fine Art, Photography, Antiques, Rare books, memorabilia, and all that we collect, is influenced by various media outlets.
There are many ways to position an Art Insurance Policy where it can keep your valuables, relatively current with the market price.
Appraisals cost money, there are endorsements which can be added to policies to increase the value by 150%. Just remember the company will not pay you more than the policy limits or class limits.
Each Carrier, AXA, Chubb, Travelers or Markel, have products which either complement your Homeowner’s policy or have a standalone Policy.
If you are interested in exploring the option you can call me:
William Fleischer, CIC
Bernard Fleischer & Sons, Inc.
29 Broadway
New York, NY 10006
212 566-1881 ext 111
www.Artinsurancenow.com
Is Art insured in the belly of a Plane
Yes, items can be checked into luggage and still be covered, but this is not the best way to ensure coverage under this policy because you will be violating the packing warranty.
The packing warranty is broad enough that it allows the Insured to pack the items, but still must be packed “utilizing procedures and materials to protect the Covered Property.”
What does this mean? It means you can pack a wood carved 12” dish into your luggage, but you cannot insure a Tiffany lamp wrapped in a sweatshirt.
If the item is of art or cultural importance, the country of origin may seize the property. This policy does not cover any Governmental Action.
Fill out a collectors application for a quote today.
Interesting Art related Articles links
Art Forgers Beware: DNA Could Thwart Fakes
Looming spectre of theft at art galleries
http://citizen.co.za/384098/looming-spectre-of-theft-at-art-galleries/
Here’s how much it costs to package, ship, and insure a multi-million dollar piece of art
http://www.businessinsider.com.au/5-things-to-do-before-you-buy-an-expensive-piece-of-art-2015-5
Provenance Premium
Creator or Buyer: Who Really Owns the Art
http://artlawjournal.com/visual-art-ownership/?utm_source=wysija&utm_medium=email&utm_campaign=April+20+2015
The Smarter Way to Invest in Art
Writing off the Warhol Next Door (Art Collectors Gain Tax Benefits From Private Museums)
No Artist Resale Rights for US, for Now
http://news.artnet.com/market/no-artist-resale-rights-for-us-for-now-220318
All Together Now: Artists and Crowdsourcing
http://www.artnews.com/2014/09/02/artists-and-crowdsourcing/
Ian Berry: Teaching Students How To See
http://www.artnews.com/2014/01/20/ian-berry-teaches-students-how-to-see/
Sotheby’s and Jancou Battle in Appeals Court over Cady Noland Artwork
The Visual Artists Rights Act of 1990
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 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:
- Intaglio (printmaking), a group of printmaking techniques with an incised image.
- Intaglio (jewelry), or engraved gem, similar techniques in jewelry.
- Intaglio (sculpture), also known as counter-relief, distinct from relief.
- Intaglio (burial mound), a similar technique for decorating burial mounds with geoglyphs.
- Blythe Intaglios, large Native American designs on the ground in California.
- In wood carving, more correctly known in English as inlay.
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
Let me insure yours
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:
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