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After last week and the Munich Security Conference, the art trade is also feeling insecure – at least those who do business with customers in the United States. It is possible that the days of tax-free imports via Delaware are over if the tariff war extends to goods other than steel and aluminium. Preparations are underway, and with a possible 25% import sales tax, no ... read more
In two weeks we will know more about the political mood in Germany. Last night two women interviewed two men. One of them, with a lot of ‘me me me’ and not always very appropriate interjections, was surprisingly keen to boast and the other, with more objective ‘we’, promised more economic development. The latter is more beneficial for the art trade and the cultural sector.The ... read more
Our company was founded 15 years ago – initially without a portfolio and with a focus on serving customers in the renewable energy and logistics sectors. In the field of art insurance, the market seemed divided and, compared to other areas, had low margins with low premium rates. Price is one thing, expertise is another, and the latter opened up the opportunity for us to ... read more
One natural disaster followed the next. Storm Éowyn swept across Ireland in particular with wind speeds of up to 183 km/h, leaving a trail of devastation in its wake. The damage is immense and the duration of the clean-up work remains unpredictable. Insurers must be prepared for billions in losses.On Tuesday, the power of the wind was illustrated at the American embassy in Berlin by ... read more
Hollywood Hills is synonymous with wealth and exclusivity, but California's wildfires could become one of the most expensive natural disasters in US history in terms of insured losses. Forecasts by Wells Fargo and Goldman Sachs estimate potential insured losses of up to 30 billion US dollars.The fires are putting further pressure on the already ailing property insurance sector in California. Many property insurers, including Allstate ... read more
The devastating fires in Los Angeles and California have so far destroyed around 10,000 buildings and paralyzed the cultural sector. The first galleries and private homes of artists were destroyed. Artists' residences such as the Villa Aurora were damaged, the Thomas Mann House was evacuated and museums and galleries are still closed. Fortunately, the Getty Villa was spared, although parts of the garden were burned.At ... read more