National Fine Art Practice: State of the Market

The Fine Art insurance market is beginning to harden. Personal insurance companies are offering less coverage in catastrophic areas and Lloyd is closing some of their business units, including some who write insurance for Fine Art. Due to the major catastrophes that hit close to home for many collectors, cultural institutions, and museums, Fine Art clients are placing a greater value on risk management advice, seeing how being proactive with disaster planning—including hurricane planning, brushfire planning, and employing a Collections Management Software—will pay off.