Chubb Personal Insurance has unveiled four new complimentary risk management services for art collectors.
The new services include disaster planning consultation, renovation consultation, household staff training and post-auction review.
Chubb said that its fine art specialists will create customized plans to help clients prepare and respond to disasters, including basic salvage measures they can take.
Prior to and during renovation, clients will be instructed on how to protect works from vibration, dust and debris, among other hazards.
The company added that as part of the service, fine art specialists will impart training to household employees on the proper protection of collections, including securing items in high-traffic areas, maintaining environmental controls, cleaning techniques and caring for outdoor sculpture;
Fine art specialists will also perform semi-annual assessments to determine whether insured works are valued in line with recent auction prices for the artists and similar works, the company said in a statement.
The new services are being added to a suite of other services, including collection valuation reviews; collection risk assessments; fire, security and loss prevention advising; offsite storage assessments; digital home inventories; loan and consignment agreement reviews; referrals to art professionals; art exhibition tours; and educational lectures and events.
Chubb Personal Insurance vice president and worldwide fine art manager Melissa Lalka said: "By bringing together our risk management, underwriting and claim expertise through the establishment of the Fine Art Practice more than a year ago, we have gained greater insights into the risks our clients face.
"As a result, we have been able to create four more services to help clients protect the significant investments they have made in art."