FAQ'S: ART

Who can purchase this insurance? Conservators who are members of the AIC.

Why are you offering the insurance exclusively to AIC members? The AIC has been very influential in promoting best practices through the Guidelines for Practice and Code of Ethics for conservators. The AIC represents conservators whose high level of skill and integrity will result in an excellent risk group.

We have not had insurance before, why do we need it now? The value of art has increased significantly over the past 10 years. At the same time the level of expertise required of conservators has expanded. Many clients and public institutions are requiring financial protection from the professionals that work on their art.

Doesn’t our homeowner’s or fine arts policy cover the piece in case of a loss? Not all policies are the same. You must read each one to know what is, and what is not covered. Most policies exclude losses due to restoration or transit.

I am organized as a corporation and was told that being a ‘corporation’ protects me from being sued. A corporate structure may help you protect your personal assets; however it does not prevent your business or you from being sued.

I am forming an LLC with several other conservators who work in other specialties. Do we need separate policies? If you are working at the same location and are owners, part owners, or employees of one company, you may all be insured on one policy. If you are renting to, or sharing space with someone who is not your employee or partner, or calling in an outside Conservation expert, they must purchase their own policy.