Risk mitigation in the art market is becoming a catch phrase for insurers as the price of art rises and cost of covering losses becomes more prohibitive, especially in the face of fierce competition to capture and retain clients. The paradox of lower margins and higher payouts necessitates a program to educate and induce clients, both private and public, to appreciate the value of protection.
For art and other valuable assets, whether antiques, jewelry, collectibles, memorabilia, tapestries, coins, wine and even wall safes, a solution that consists not just of perimeter/intrusion security but one that adds a layer or layers of object-specific protection will dramatically reduce the threat of monetary loss for both insurer and insured, the chance of litigation for insurer and emotional loss for the client. After all, only 3-5% of stolen art is ever recovered.
Art Guard solutions start with Safe Hook, an ideal product for galleries and small museums, and rise to the MAP Sensor and MAP System, patented, state-of-the-art technology designed to provide protection from theft to each individual stationary object, no matter the size or shape.
Whether MAP sensors are integrated into the exiting security in a home or operate with the plug-and-play MAP System, they are ideally suited for 24/7 protection when intrusion security is off or compromised. In a museum setting, MAP is ideally suited to special shows or works on loan, where the flexibility of a solution is paramount.
– Insurance Journal
– Rough Notes, June 2017