[CPProt.net] The Fine Art Of Protecting Fine Art - Forbes.com

[Museum Security Network / Cultural Property Protection Net (Ton Cremers)]

 The Fine Art Of Protecting Fine Art 
Carrie Coolidge, 05.19.05, 6:00 PM ET 

Do you own a work of art? Well, if you haven't done so already, there are
many protective measures you should be taking to protect it from elements
that can cause that art to deteriorate. 

According to Dorit Straus, worldwide specialty fine arts manager at insurer
Chubb (nyse: CB - news - people ), the first thing to do is create detailed
records of your art collection, including information about each work of art
(artist, title, date the work was created, medium, size and condition). It
is also a good idea to keep photographs of the artwork in a safe place. 

Click here for slide show on helpful tips for protecting fine art 
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Some insurance companies, such as Chubb, will send a specialist to evaluate
a collector's home and offer suggestions to better protect the artwork from
theft, fire, water or light damage. While insured art is covered in the
event of theft, fire or water damage or damage caused during transit, a
policy will not pay for gradual deterioration, such as fading or cracking
caused by natural or artificial light. 

If you live in an area susceptible to hurricanes or earthquakes, be sure
that all wall-hanging devices are secure. If you live in earthquake-prone
California, consider using special earthquake hooks for art that is hung on
walls. These hooks trap the picture wire, which, with luck, will keep the
picture from falling off the wall. If you live in a hurricane zone and your
walls are made of plaster, remember that, should they become damp, they
might not have the structural integrity to hold your artwork. 

In the event your artwork is damaged, for whatever reason, seek the help of
a professional conservator as soon as possible. The faster you do so, the
better the chances are that it can be repaired. Your insurance broker or
agent may be able to provide a referral for an experienced conservator, as
well as appraisers, art storage facilities and other art professionals in
your area. 

If you own large, three-dimensional objects, such as sculptures, be sure to
carefully consider where you place these works, in case they tip over. If
the work is heavy, you might want to attach the base to the floor to keep it
in place. If the work of art is smaller, consider using museum wax to hold
it in place. Museum wax will adhere smaller three-dimensional objects to a
surface without causing any damage to the artwork. 

Protecting your fine art collection includes making sure it is adequately
covered by insurance. If your homeowners policy doesn't do that, you can
turn to one of several specialist brokers with experience and knowledge in
both the insurance and art worlds, including the fine art, jewelry and
specie division of Willis Group Holdings (nyse: WSH - news - people );
Henderson Phillips, owned by Arthur J. Gallagher (nyse: AJG - news - people
); and Acordia, owned by Wells Fargo (nyse: WFC - news - people ). 

The policy is likely to be written by a specialist insurer, too, such as XL
Capital's (nyse: XL - news - people ) XL Fine Art, AXA's (nyse: AXA - news -
people ) AXA Art Insurance, Chubb Fine Arts or a syndicate of Lloyd's of
London. 

http://www.forbes.com/business/services/2005/05/19/cz_cc_0519protectingart.h
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