We understand the unique circumstances that local governments face when it comes to owning and exhibiting art. Your collections can be difficult to value. You borrow art for temporary exhibitions and the lenders expect nail-to-nail insurance. Items are exhibited in all types of locations including offices, schools or hospitals.
Brookfield has designed a fine art insurance solution specifically with the needs of local authorities in mind. It provides broad and flexible cover without burdensome administration.
By listening to our customers, our cover has developed and adapted to provide the protection that the owners of art need and have come to expect. Unlike many insurance companies, our aim is not to offer all types of insurance for all types of customers. Instead, we focus on areas where we are specialists and which require specific expertise and service.
Loss of market value following damage
No excess to pay
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Benefits of Brookfield’s Art Insurance for Public Entities
Items are insured everywhere – Automatic cover in all local-authority owned locations such as schools, offices or hospitals – not just art in museums or exhibition spaces
Automatic cover for temporary exhibitions – you choose the amount to insure on an annual basis, so you don’t need to buy insurance each and every time. Our cover includes the transportation of items from anywhere in the world
Agreed values for unique items – For those items which are unique or have a particularly high value, the insurance amount can be agreed upfront. This means no discussion when a claim occurs.
Depreciation cover – We will not just pay to repair or replace an item. If a damaged item is worth less after it has been repaired, we will also compensate you for this loss in market value.
- We have large historical collection but a small annual budget. Brookfield´s suggestion to insure on a restauration-only basis was a very practical solution.
- Having our own art as well as borrowed items and transport cover all on one policy really simplified our administration.