XL Catlin’s insurance operations announced it has enhanced the wording of its all-in-one solution for collectors, arts and jewelry professionals, called Mosaic.
The Mosaic coverage, which is available in France, Italy, Belgium, Switzerland and Spain, now includes a number of additional coverages including business interruption and public liability, the company said in a statement.
Mosaic is designed to address the risk collectors, museums, art galleries, jewelers and watchmakers face, with a single policy using a combination of property, liability and transport coverages. The solution allows clients to protect their art and valuables against the risk of loss, theft and damage while on display, in storage and in transit. Mosaic also covers buildings hosting valuables, their installations and content.
“Europe has historically been a significant marketplace for the arts and this is true today,” explained Yannick Daucourt, EMEA regional manager, Fine Art & Specie.
“According to Larry’s List, Europe is home to the largest proportion of collectors with 38 percent of the world’s contemporary art collectors based across the continent. Additionally, according to their latest report, a large number of new private museums will open in the near future and collectors will become more engaged with public museums, lending their art for exhibitions,” Daucourt said.
The XL Catlin said its Fine Art & Specie team in Europe works with brokers to insure art collections owned by museums, galleries, companies and individuals.
Source: XL Catlin
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