Art Insurance | Be Prepared for the Unpredictable 15 November 2022, at Whitestone Gallery CRASH! A fragile sculpture has just been knocked off the plinth by a visitor who’s taking selfie - you are suddenly inundated by a thousand questions by the worried consignor. Should you ask your careless visitor to pay for the damaged work? What steps can you take in order to make a claim be processed quickly and smoothly under a gallery policy?
SPLASH! The water pipe at the gallery suddenly burst in the middle of the night. The clock is ticking, your gallery is about to turn into a pond, and you only have very limited time to urgently evacuate your exhibits from the gallery, who can assist you with that?
WHAT! After selling all the artworks in the art fair overseas, you happily celebrate the sales with your boss. That’s when your shipper called you with a shaking voice – your entire crate is lost during the return transit – what should you do next and how can you deal with the clients?
Learn all about art insurance in the second instalment of our Tuesdays with HKAGA Members' Workshops series – "Be Prepared for the Unpredictable". Leading the workshop will be Bernadette Hung, Fine Art Jewellery and Specie insurance broker at the multinational risk management advisory firm WTW.
Through identifying common risks art businesses face, this Workshop centred on possible solutions that can be offered by risk management and insurance. Participants walked away with a deeper understanding of artwork protection during transportation and display in a global context, as well as bearing in mind the various considerations when it comes to insurance when signing contracts with partners such as consignees, art fairs, logistics companies and landlords. |
