Acadia Insurance Expands Inland Marine Coverage for Museums, Fine Art Dealers and Corporate Collectors
WESTBROOK, Maine (July 23, 2012) – Acadia Insurance announced today that it is now offering expanded inland marine coverage to museums, fine art dealers and corporate collectors throughout New England and New York. The coverage is designed to insure valuables while they are on-site, in transit or on exhibit at another location.
"Acadia has adopted these specialized coverages to deliver targeted protection against the evolving exposures of the art community," said Barry May, Vice President of Marine, Acadia Insurance. "Whether business owners and operators own, sell, collect or exhibit fine art, they want to ensure that their collection is insured against the risk of day-to-day business. Whether it is on site or away on exhibit, a loss can be extremely costly if not adequately covered."
Acadia can insure museum collections up to $10 million in value, fine art dealer collections up to $2 million in value and private corporate collections up to $5 million in value. Acadia's new inland marine coverage forms offer many new enhancements, including:
- Coverage for owned property and property of others
- Coverage for articles while in transit or off-premises
- "All risks" coverage on covered property
- No territory limit of property or collections in transit or on exhibition subject to federal trade restrictions.
- Partial Loss Diminished Value coverage in the event of damage to covered property
- Coverage for crates, packing material and display equipment
The marine enhancement coverage is available through all independent agents who represent Acadia Insurance and is subject to applicable underwriting guidelines and the terms and conditions of the policies.
For more information, please contact your local Acadia agent or visit Acadia’s website at www.acadiainsurance.com.