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Department of Management Services

Fine Art Insurance (Indoor and Outdoor)

Fine Art (Indoor & Outdoor) Insurance

STATE OF FLORIDA

FINE ART (INDOOR & OUTDOOR) COVERAGE

UNDERWRITTEN BY:   Certain Lloyd's Syndicates

BROKERED BY:  Arthur J. Gallagher Risk Management Services, Inc.

CURRENT POLICY PERIOD:  December 31, 2015 through December 31, 2018

This insurance is purchased and administered by the Department of Management Services, Division of State Purchasing. The outline of coverage shown below is provided as an overview; please refer to the insurance policies for specific information. All questions relating to this policy should be directed to Jill Soderberg, State Purchasing at (850) 488-7996 or jill.soderberg@dms.myflorida.com.

  

DESCRIPTION OF COVERED PROPERTY:

Fine Art of every nature and description being property of the Named Insured and/or for which the Named Insured have accepted responsibility to insure.

  

COVERAGE:

Fine Art shall be insured against all risks of physical loss or physical damage.

Transit shall also be included at no additional cost to the Named Insured.

  

TERRITORIAL LIMITS:

Worldwide

  

VALUATION:

The valuation of artwork is that which has been agreed to by the Named Insured and the Broker/Underwriter.

  

LIMIT OF INSURANCE:

INDOOR FINE ART:

This policy insures indoor artwork against physical loss or physical damage during the period of insurance while on exhibition, in transit, and or in incidental storage.  This coverage shall extend to fine arts on loan to, or owned by the Named Insured including but not limited to:  museum collections, murals, stained glass, sculptures, gallery exhibits, and paintings. 

  

COVERAGE COSTS:

No rate applies. Named Insureds purchase an individual aggregate limit or share in the $2,000,000 limit coverage pool.  Premiums are based upon the aggregate limit being secured.

Indoor claims deductible is $0.00

Named Insured Aggregate Limit
DOS - Department of State $ 4,500,000
UF - University of Florida $ 2,500,000
DMS - Governor's Mansion $ 2,000,000
UCF- University of Central Florida $ 2,000,000
UCF - Flying Horse prints $100,000  / 10,000 Transit
FAMU - FL Agricultural & Mechanical University $ 1,000,000
FGCU - FL Gulf Coast University $ 1,000,000
10 Other Named Insureds Shared Limit $ 2,000,000
Any one loss by conveyance - professional art shippers $ 2,000,000
Any one loss by conveyance – transit by insured $    100,000
Any one loss any one unnamed location $ 2,000,000

 

OUTDOOR FINE ART:

This policy insures outdoor sculptures and other art work against all risks of physical loss or physical damage.

 

COVERAGE COSTS:   $0.14 per $100 of Total Insured Value

Outdoor claims deductible:

$750 each and every loss; increasing to $2,500 in respect of vandalism and malicious damage; increasing further to $7,500 in respect of named windstorm and flood.

The deductibles do not apply to property of others or while property is away from the locations of the Insured.

Named Insured Aggregate Limit
Any one loss any one conveyance $ 2,000,000
Any one loss any one unnamed location $ 2,000,000
AGGREGATE LIMIT of all artwork combined $ 3,497,330

   

FORMS:

Claim Form (Microsoft Word Document 209.50 KB)

Certificate of Insurance Request Form (Microsoft Word Document 102.50 KB)

Policy Form (Adobe PDF Document 361.77 KB)

Contact Information

Please direct any questions regarding the insurance coverage program to Jill Soderberg at jill.soderberg@ dms.myflorida.com.