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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

Can we be competitive with your Present Fine Art Insurance

If you are involved in the art world, I can insure your exposures.

• Commercial Art
• Art and Antique Dealers
• Restore and Conservators
• Museums
• Private collectors
• Large or Small inventories.
• Domestic or International.
• Art Fair transportation, while at fair,
shipped to collectors
• Art loaned to Museums or non- profits,
• Art being shipped or carried on board,
• Coverage for special events, Parties,
Gala’s, Dinners.
• Non-profit organizations and more

There are special policies so broad that besides the standard theft or breakage coverage’s it actually includes mold and devaluation of the art pieces due to a loss.

The premiums begin around $2,500 for about $250,000 worth of protection.

Recent successes: An Art dealer who brings works to various fairs and sells from her private gallery just purchased this policy

$300,000 premises limit
$300,000 unnamed location
$300,000 while in transit

We set the unnamed location limit and transit limit as matching limits to avoid any gaps in coverage.

Premium is $3100 with $1,000 deductible.

for applications Click Here