Your passion – our duty

Not every work of art is held in the same esteem: some lose significance and collections change during the course of a lifetime.

The material value of the individual work of art can change too. Generally speaking, the values develop more positively than the average stock market index – and with astounding stability. In the event of loss or damage, then, a sufficiently high insurance sum should be available to acquire comparable quality on the market again, even if the emotional value is irretrievably lost. Insurers often see nothing but the aggregate insurance sum and, in the event of a claim, emphasise the theme of underinsurance. Clear rules must be made in this area.

You loan works to art exhibitions or artworks to galleries for commissions? Do you know what insurance cover these institutions have? At all events, the work of art at the exhibition is not insured any better than it would be if it was insured within your own four walls with 1 million euros and at the exhibition with 2 million euros. The exhibition’s insurer will ask questions about the difference.

These are just a few examples of the issues that confront us every day. If you require further details, please do not hesitate to contact us.