For items on loan to the University, an Exhibition Loan Agreement needs to be completed. Chart of Account and account to which the premium is to be recharged. Description of artwork including title, artist, medium and value. Dates of insurance. Loss control is particularly important when dealing with fine art.
Insurance can never fully compensate for the loss of unique art objects.
Use strict measures for key control and access control. Use dry sprinkler systems that will not cause floods in the event or an earthquake or ruptured pipe. Keep up to date appraisals so that in the event of a loss you are fully covered. By securing the Fine Arts Insurance coverage, departments may avoid being held financially liable for losses which would be otherwise covered by this program.