Insurance for artworks requires storage in a suitable place

Insurance

Until very recently, it was common for major private art collectors to keep apartments exclusively to store or display their collections. Beyond the potentially inadequate storage conditions, keeping a collection without a constant human presence represents serious risks that accidents not identified immediately end up causing losses on a large scale – think of what can happen with a short circuit in an uninhabited apartment. 

The general director of Expomus, Maria Ignez Mantovani Franco, spoke about this subject on the podcast Tá Seguro, from the InfoMoney channel, together with the CEO of KNW Brokers, Marcio Ribeiro. Throughout the episode, they talk about insurance for artworks and the transport of major exhibitions, drawing on the international experience of Expomus, which has staged exhibitions with works by Aleijadinho, Portinari, Picasso, Paul Klee and other renowned Brazilian and international artists. 

“There are risks that people do not appreciate the scale of”, said Maria Ignez about the safekeeping of collections. “Today we have a private fine art storage facility with all the rigour one would wish for a museum's fine art storage. It is a new way of dealing with the question in a more professional manner. Little by little, these apartments are disappearing”, she explains. She is referring to Clé Reserva Contemporânea, in which Expomus is a partner in Brazil together with the French company Chenue, an international leader in fine art logistics. 

“With this, we are gradually raising the standard of the stay, which is the insurance covering artworks while they remain in storage, both for private collectors and for museums. It is the macro development of a safety awareness that raises the standard of the insurance”, she added. 

Marcio Ribeiro adds that many institutions that own art collections – banks and companies, for example – can benefit from private fine art storage when they need to move the works. “A collector who makes frequent acquisitions, or an institution that wants to change the layout of the chairman's office, is not going to leave the works in the basement. So they place the collection in fine art storage and the insurance covers all of that movement”, he said. 

Clé Reserva Contemporânea is the only Brazilian private fine art storage facility with international standards of climate control, security and fire prevention – so much so that its clients include some of the most important Brazilian museums. All this infrastructure and expertise are available in a variety of service formats: it is possible to store anything from a single piece, in a shared space; or to reserve an entire room, for the collector's exclusive use.

Contact us to find out about the possibilities for guaranteeing safety for your collection. 

The full episode is available on Spotify or as a video on the channel of Tá Seguro on YouTube. You can watch the excerpt highlighted in this post here: 

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