Session Dates
Monday, 31 January 2022 from 12.00pm – 2.00 PM EST ( 18:00 – 20:00 CET) sul via Zoom
Monday, 7 February 2022 from 12.00pm – 2.00 PM EST ( 18:00 – 20:00 CET) sul via Zoom
Zoom links will be sent out to all registered participants on the day of the session.
Course Description
Insurance is integral to the financial stability of museums, art galleries, corporate and personal collections. This 4-hour, 2-session, low participant-to-instructor ratio, eCourse will introduce basic insurance concepts that will educate anyone involved in collection management of museum collections, galleries, corporate and private collections. We will learn about insurance requirements such as appraisals and other valuation methods.
We will utilize real situation in loss and claims and address how good risk management can reduce or minimize losses. Insurance claims due to internal and external theft fraud and forgery will be discussed and how they affect the profitability models of the insurance company.
Key Concepts Covered:
➣ Real world understanding of the insurance transaction and the process behind the analysis and determination of risk selection.
➣ Basic insurance concepts such as risk transfer, evaluation of hazards, risk management and services provided for art specific accounts by insurance carriers.
➣Comparison between the insurance transactions within the US and abroad.
➣ Other types of risk transfer such as government indemnity programs.
Lecture Docent
Dorit Straus studied middle Eastern archaeology at Hebrew University in Jerusalem, participated in several excavations and field surveys. She then worked at several museums including Harvard University Peabody Museum, The Jewish Museum in NYC and the Museum of Contemporary Crafts renamed Museum of Art and Design (MAD) in NYC. In 1982 she joined the Chubb Group of Insurance companies and retired in 2014 as the World Wide Fine art manager with responsibilities for underwriting for museums and cultural institutions, exhibitions and private collections. On ARCA’s faculty since 2009, she has served on numerous boards including AXA art insurance, Crozier Fine Art to name a few. Dorit is on the board of the International Foundation of Art Research ( IFAR ) and was appointed by President Barack Obama to serve on the Cultural Protection Advisory Committee (CPAC) of the US State Department a position she held until 2020.
Dorit is a fine art insurance consultant and an advisor to Wondeur AI – a platform dedicated to tracking artists trajectories based on other criteria independent of auction results.
What we will explore.
The relationship between the insurance industry and law enforcement.
What fine art insurance covers in art collections; from paintings, to sculptures, to rare books, historical artifacts, scientific inventions and more.
The relationship between the insurance industry and the personal client.
How People Are Reacting
I took this online course as an introduction to the topic when the COVID pandemic prevented me from attending ARCA’s PG Cert program in Italy. The course gave me an exciting baseline introduction and I look forward to taking their summer professional training program next year.
As a university student taking courses in organized crime and terrorism, I wanted to understand better how art intersects with these more well known types of criminal behaviors. Professor Tijhuis and Professor Albertson gave me an excellent overview and I look forward to seeing what other courses on the subject ARCA develops.