Fine Art

Interpol states that the theft of fine art is currently the fourth largest crime world-wide after drugs, money laundering and illegal arms sales. With an annual estimated turnover of 6 billion US Dollars a year, these proceeds are often then used to fund other criminal activities, the objects themselves serving as both a medium of exchange between criminals and a means of laundering money.

The Art Loss Register provides categorical evidence of a consistent annual increase in thefts since January 2004. Although dedicated law enforcement units are established in most countries worldwide, they are less common in Latin America. As a collector you are advised to document all items thoroughly. The importance of detailed documentation is two fold; objects that are poorly documented are less likely to be recovered and secondly items that are recovered but inadequately documented are less likey to be returned to their owners.

Griffin Underwriting Fine Art Policies are not just a means to restore your financial position after a loss. The Loss Adjuster provides an important service to you by using his contacts and expertise to try and recover the lost items. If they are found you will be offered them back, and to many people this is an enormously valuable comfort.

Griffin Underwriting offers comprehensive insurance including:

• Stamps, antique furniture, clocks, carpets, paintings, sculpture, porcelain or other items that are unique or rare, have a relatively high value and are collectable;
• Jewellery whilst in a safe, bank vault or while being worn; gold silver and precious metals;
• Classic cars;
• Cover of items in transit*;
• Earthquake, flood, storm and water damage at no additional premium;
• Automatic inclusion of new items acquired during the period of insurance up to the value of 10% of the total sum insured for the first 60 days*
• Cover for private collections, galleries and museums
• In the event of theft a loss adjustor will be appointed to help settle the claim as quickly as possible and/or to recover the stolen item(s).

For a full summary of cover please select the link below.

Fine Art Summary of Cover

*Large or multiple items, and or overseas may incurr a small additional premium.
** Subject to a 60 day notification period.