Like all sectors, the art world has recently seen disruption on a global scale. As the economy very gradually moves out of lockdown, one question has come up again and again: How do we manage the increased risk?

Hallett Independent’s Managing Director Adam Prideaux tackles this very topic in Articheck’s recent webinar.

Covering a broad range of subjects and trends in art insurance such as reinsurance, Business Interruption Insurance, Transit Coverage and protecting your premises – this webinar is vital watch for all gallery and museum owners tackling the challenges which the COVID-19 lockdown has presented to the art world.

At a time when art venues and events couldn’t be facing a more challenging set of circumstances and largely remain closed, Adam covers a broad range of insurance areas including business interruption and unoccupied premises.

“These insurances [business interruption] were primarily arranged to protect businesses affected by physical damage such as a fire or flood to help keep the business going. They’re not designed to meet the macro economic effects caused by a global pandemic. That said some policies may include cover for business interruption resulting from what we call a restriction in access to your premises – restricted access cover.”

To benefit from Adam’s full advice and some money saving tips around unoccupied premises watch the webinar below.

How This Can Affect Your Insurance Policy

Your insurers will have agreed your policy cover based on the information disclosed to them at the time of inception and on the basis of you having an alarm with remote signalling which is maintained under a contract.  If changes are to be made to your alarm system, you must inform your insurance company of those changes so they can agree them and approve the new system.

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What You Need To Do

If you are an existing Redcare client, it is imperative that you contact your alarm system provider to ensure that an alternative and appropriate replacement can be installed before the 1^st August 2025 and that remote signalling will continue uninterrupted. Alarm providers are expecting a surge in demand and installation capacity may be in short supply, so do not delay.

The replacement to consider should comply to the latest “DP3” (dual path) Grade as being the most appropriate.

Please contact us if you have any questions about your current insurance obligations and/or the alternative system suggested by your alarm company and we will check it with your insurers.

*Your alarm installer must have an NSI or SSAIB accreditation in order for your alarm to qualify for a policy response.

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What Happens If You Do Nothing

If you do not arrange for your alarm signalling to continue uninterrupted and your cover is based on remote signalling being in place, you are not meeting your policy conditions and are jeopardising any claim for theft or fire, as insurers are within their rights to reject such a claim.

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Click here to find out more here

For more information on the exhibition and the works for sale, visit their website: platformearth.org

Or visit their Instagram @platformearthuk