< CONTRACTS
INSURANCE
There are a number of insurances available that relate to artworks and commissions. These variously offer cover against most eventualities, including employers’ liability, manufacturers’ liability as well as financial restitution in the event of damage, theft or other mishap to the insured work.
Insurance responsibilities can be confusing, especially when a number of different organisations or individuals are involved in a project (consultant engineers, founders, construction contractors and so on). As a general rule, most artists and designers using the services of a professional foundry need not be overly concerned with insurance issues – unless they are retaining the sculpture for themselves, in which case they may want to consider cover against theft or other loss.
Whilst some household contents insurances will to some extent cover the loss or damage of an artwork, items of exceptional value should be individually assessed and insured separately. Even if a specific insurance policy is not appropriate, photographic details, receipts and other records should be kept, secure and separate from the artwork itself. For additional security, full details of the artwork in question should be deposited with an art or antiques LOSS REGISTER, if such an organisation is available in your country (there is also some international cooperation in this area).
Once a cast has been ‘signed off’ by the founder, responsibility for the art work’s safe-keeping is also normally passed on. Legitimate transport companies carry appropriate insurances and often their policies are sufficient to cover transit losses or damage of at least $1m though specialist art and antiques carriers are usually able to insure items well in excess of this amount. It is however, always good practice to ask about the level of insurance cover, applicable terms, exclusions and other conditions when booking a packaging and transport service. Some low cost carriers such as national postal services can cover sent items with an additional premium payment, though the maximum compensation available may be limited to a total well below the production cost of a lost sculpture.
PUBLIC LIABILITY & OTHER INSURANCES >
|
|
