Securing museum coverage

Article Abstract:

Museums and other cultural institutions should purchase insurance broad and flexible enough to cover all loss contingencies. Policies should cover transit of loaned collections. They should supplement traditional replacement cost valuation with agreed valuation since many objects might be irreplaceable. They should also provide for the sometimes exorbitant cost of restoring damaged historic structures in which artifacts are housed. Business interruption insurance is a must since loss of a collection threatens a museum's very livelihood.

Museums and art galleries, Museums

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News that's fit to cover

Article Abstract:

Any business that disseminates information to the public should seriously consider media insurance since libel suits, once rare, are increasing. Components of this kind of policy should include defamation coverage, invasion of privacy, copyright infringement, intellectual property and errors of omission. In writing such policies, underwriters should consider such issues as readership size, potential impact, content, copyright protection, and, in the case of applicants, loss history and loss prevention strategies.

COMMUNICATION, PRINTING AND PUBLISHING, Mass media industry

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