Every artist studio is unique. Since the practice of an artist varies as much as the definition of art, finding insurance solutions can be a challenge. Thankfully, an experienced insurance advisor can help. In the following pages, we will take a look at the fundamentals of insuring an artist studio. We’ll explore works in progress, commissions, completed works, commercial activities, public projects, general liability, employment practices, medical lability, and professional liability.
Despite the variety of artistic practices, nearly every studio should have the same basic insurance structure. Fine Art insurance protects the studio’s creative output of completed and partially completed works, including many subcategories explored below. Commercial insurance covers the non-fine art property and liability exposures. Specialized non-property based coverages, also known as executive risk, provide coverage for media liability, cyber, employment practices, and other risks. This combination is by no means an exhaustive list of the necessary insurance; you should speak with your broker and attorney to identify what is right for your organization. Instead, these are the minimum coverages to protect your practice from sudden, unforeseen, and potentially ruinous hazards.
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