Malayan raises awareness on fine arts insurance

Malayan Insurance, the country’s No. 1 non-life insurance company, together with Willis Limited, an insurance broking and risk consultancy firm, recently conducted a forum on the fundamentals of art insurance. 

Malayan’s Fine Arts Insurance Policy covers “all risks” of physical loss or physical damage, as opposed to the named perils covered under the standard property policy and provides insurance coverage in case of theft, vandalism, accidental damage, and natural disasters. It has low or no deductible and includes benefits like worldwide territorial scope and coverage while in transit, and pays for restoration costs and the resulting depreciation following a loss or damage.

Additional benefits of the Fine Arts Insurance include access to professional and specialist claims service, skilled restorers, and specialist knowledge on transportation and storage.

To know more about Malayan’s Fine Arts Insurance, call Malayan Insurance at 628-8628 or visit the nearest Malayan Insurance branch.

Held at the Yuchengco Museum in RCBC Plaza, Makati City, the seminar, titled “Understanding Fine Art Insurance,” was intended to raise awareness on and impart the significance of this specialty insurance product.

It was conducted by Rhiannon Alban-Davies, fine art, jewellery and specie account executive of Willis Hong Kong, together with Terrance Yeung, executive director of Willis Hong Kong, and Mandy Velasquez, head of Malayan Insurance’s Marine and Aviation Underwriting Department.

The talk was attended by art collectors, art gallery owners, art dealers, auction houses, art students, and institutions that have works of art.