Bruce Gendelman shares his teams approach to mitigating outside art collection risk
PALM BEACH, FLORIDA, UNITED STATES, November 13, 2018 /EINPresswire.com/ — One of the foremost insurers of art collections in the country, The Bruce Gendelman Company, Inc. has offered sound advice on protecting sculptures. From table pieces to large-scale, site-specific sculptures for architectural, urban, or landscape settings, how and where a sculpture is positioned, preserved and protected can impact the art form as dramatically as the piece itself, according to Bruce Gendelman, chairman of Bruce Gendelman Insurance Services.
Bruce Gendelman notes “While many clients have expressed the feelings that not much can happen to sculptures, our experience with claims tell another story.” Over the past 40 years of insuring art internationally we have experienced major damage to all forms of sculpture from hurricane damage to transit damage and theft we have seen it all.”
In one example a hurricane caused a large palm tree to fall on an important Henry Moore reclining nude causing impact damage to the masterpiece. After a complete restoration our engineers designed a summer hurricane “proof” covering for the piece.
The Bruce Gendelman Insurance Services chairman goes on to add that, “large scale Corten steel installations such as those created by american minimalist sculptor artist Richard Serra
can pose as an attractive nuisance risk for vandalism. For both museum and personal clients with grand sized outdoor pieces, our team performs extensive property access reviews and security reviews. Large limit liability policies are also very standard.”
Bruce Gendelman also explains “that outdoor works will require constant care as they remain vulnerable to
damage from strong winds, floods, exposure to precipitation, humidity, pollution, sunlight, and extremes of temperature, small children, animals, and vandals. Proper curatorial review and processes such as waxing bronzes is part of the routine risk assessment the Gendelman team provides.”
The risk of loss must of course include the proper analysis that in case of a total or partial loss, the FULL value of the art is paid for the insurance company. The policy forms for art insurance vary greatly and thus a very careful and detailed review by a fine art insurance expert is also vital. Bruce Gendelman, who is also and attorney states “ with insurance you are buying a piece of paper as your financial guaranty, you better be damn sure what that paper says, what the credit that is backing you up is, and the claims reputation of that carrier. Just this week we had a client with an art collection lose their entire home in the wildfires in Malibu California. Their previous carrier was Lloyds with a very basic policy, fortunately for the client we switched them to one of the premier insurance carriers.”
The Bruce Gendelman Insurance Services, is able to offer among the very best insurance programs and expert loss control services, working hard alongside clients to put in place effective action plans in order to help protect their most valued interests and assets," adds the chairman, wrapping up, "including sculptures and other fine art."
To learn more about Bruce Gendelman Insurance Services, please visit https://www.gendelman.com/ or call 800-845-4145 ext 13 to speak to an insurance concierge.
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Source: EIN Presswire