Philadelphia Insurance Companies (PHLY) has created new insurance coverage for museums and cultural institutions through a partnership with its sister company, Tokio Marine America (TMA). The partnership gives PHLY increased capacity up to $100 million per location for fine arts collections.
The new Fine Arts Collection form rounds out a full complement of coverages offered by PHLY including property, equipment breakdown, business Interruption, general liability, automobile, umbrella, and directors & officers liability.
Highlights of the new Fine Arts Collection form include Worldwide coverage, Wall to Wall coverage (including coverage while in transit and on loan), shared deductible, title defense coverage, restoration, retouching, conservation coverage, $100 million by location coverage limit, and fine arts specific claims adjusters.
The Fine Arts Collection form is currently available in all states except Calif., Colo., Conn., Ill., Ky., Mass., Mont., Neb., N.H., N.M., Okla., Ore., Texas, Vt., and Wash.
Philadelphia Insurance Companies markets and underwrites commercial property/casualty and professional liability insurance products. Policies are underwritten by Philadelphia Indemnity Insurance Co., admitted in all states and D.C. except Louisiana, and Tokio Marine Specialty Insurance Co., a surplus lines insurer admitted in Delaware for surplus lines and authorized in all other states and D.C.
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