January 04, 2018
The landscape in which today’s fine art professionals navigate is more litigious than ever before. Exposures to claims alleging infringement of intellectual property, improper authentication and negligence in rendering professional services are commonplace, without regard to the merit of the allegations.
Unlike other professions, many of the disputes in the art world arise from physical damage caused to the property of others. Traditional Errors and Omissions (E&O) insurance will typically exclude claims based on or arising from such property damage. Moreover, authentication claims are also excluded from coverage provided by the vast majority of off-the-shelf policies.
DeWitt Stern’s understanding of the art world and our longstanding relationships with key insurers has enabled us to craft an insurance policy that addresses these unique exposures.
Highlights Include
Coverage for defense expenses and economic damages arising out of claims for:
- Property damages occurring in the course of rendering Professional Services to others.
- The infringement of the intellectual property of others.
- Authentication disputes occurring in the course of rendering Professional Services to others.
- The loss or theft of personal or confidential information.