Paperback
The Law and Practice of Fine Art, Jewellery and Specie Insurance
This comprehensive book will be essential reading for all those involved with fine art, jewellery and specie insurance. David Scully analyses the history, structure and dynamics of the global marketplace for this type of insurance, illustrating key points with real life examples to provide a practical guide to the business.
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Critical Acclaim
Contents
More Information
This comprehensive book will be essential reading for all those involved with fine art, jewellery and specie insurance. David Scully analyses the history, structure and dynamics of the global marketplace for this type of insurance, illustrating key points with real life examples to provide a practical guide to the business.
Key features include:
• Coverage of how insurers determine the value of insured items
• Examination of relevant legal precedent in the UK and US, including judicial interpretation of exclusions and warranties
• Explanation of the key risk factors insurers consider, including traditional risks such as fire and theft as well as emerging risks such as defective title, professional liability and fakes and forgeries
• Specific chapters considering insurance for museums, exhibitions, private collectors, art dealers, jewellers, cash management companies, warehouses, art shippers, and other related businesses.
This book will be a valuable resource for insurers in this area, including underwriters, claims professionals and in-house lawyers, and will provide deeper knowledge to lawyers, loss adjusters, insurance brokers and other interested parties. It will also be useful to museum registrars, art dealers and collectors, auctioneers and others, in helping them understand the risks they face.
Key features include:
• Coverage of how insurers determine the value of insured items
• Examination of relevant legal precedent in the UK and US, including judicial interpretation of exclusions and warranties
• Explanation of the key risk factors insurers consider, including traditional risks such as fire and theft as well as emerging risks such as defective title, professional liability and fakes and forgeries
• Specific chapters considering insurance for museums, exhibitions, private collectors, art dealers, jewellers, cash management companies, warehouses, art shippers, and other related businesses.
This book will be a valuable resource for insurers in this area, including underwriters, claims professionals and in-house lawyers, and will provide deeper knowledge to lawyers, loss adjusters, insurance brokers and other interested parties. It will also be useful to museum registrars, art dealers and collectors, auctioneers and others, in helping them understand the risks they face.
Critical Acclaim
‘This is a masterly command of the insurance of fine art and jewellery. It is comprehensive, easy to navigate and with excellent case studies which make the whole very readable. It will become compulsory study for a serious underwriter, broker, risk manager or lawyers who advise on insurance although hopefully there will be fewer legal disputes if the book is read in advance.’
– Julian Radcliffe, Chairman, The Art Loss Register, London, UK
‘Finally! How exciting to now have a comprehensive resource to put all the esoteric features of the global FAS world into proper historic and technical perspective. What a fantastic resource for those of us in the industry as well as those looking to enter in future.’
– Jennifer M. Schipf, Global Chief Underwriting Officer, Fine Art & Specie, AXA XL
– Julian Radcliffe, Chairman, The Art Loss Register, London, UK
‘Finally! How exciting to now have a comprehensive resource to put all the esoteric features of the global FAS world into proper historic and technical perspective. What a fantastic resource for those of us in the industry as well as those looking to enter in future.’
– Jennifer M. Schipf, Global Chief Underwriting Officer, Fine Art & Specie, AXA XL
Contents
Contents: Preface PART I THE FINE ART, JEWELLERY AND SPECIE INSURANCE MARKET 1. The Fine Art, Jewellery and Specie (FAJS insurance market PART II ART AND PRIVATE JEWELLERY 2. Art and private jewellery 3. Art and private jewellery values 4. Natural perils 5. Terrorism, political and cyber risks 6. Art theft 7. Damage and partial loss 8. Defective title, lenders’ single interest and residual value insurance 9. Professional liability 10. Museums and associated risks 11. Exhibition insurance 12. Art dealers and auctioneers 13. Private risks and high net worth insurance 14. Art storage 15. Art transit 16. Other art risks PART III JEWELLERS BLOCK AND SPECIE 17. Jewellers block 18. Jewellers block: off-premises risks 19. Cash 20. Specie 21. Fidelity and mysterious disappearance PART IV GENERAL REMARKS 22. Know your client, money laundering and ethics 23. Conclusion: the future Glossary Index
