Small Business Insurance

Is your client's BOP fully protecting their small cultural institution?

October 2019

From museums and art galleries to botanical gardens and libraries – the risks cultural institutions face can be as unique as their exhibits. Whether specializing in fine works of art, cultural archives, or other exhibit items, cultural institutions need an insurance solution that can properly address risks presented through their facilities, collections, and operations.

That’s where Chubb’s business owners’ policy (Chubb BOP) comes in.  With more than 50 years of experience, Chubb offers a robust solution crafted to meet the needs of cultural institutions. Coverage highlights include:
    • Fine arts
      • Coverage for the direct physical loss or damage to “fine arts” which include paintings, rare books, sculptures, manuscripts, pictures, prints, etchings, drawings, tapestries, bronzes, statuary, potteries, porcelains, marbles, and other bona fide works of art or items of rarity or historical value.
    • Precious metals
      • Coverage for the direct physical loss or damage by theft to “precious metals” which include bullion, gold, silver, platinum and other precious alloys and metals not incorporated into jewelry.
    • Utility Services – Business Income And Extra Expense
      • Coverage for the actual loss of business income your client sustains and the extra expense they incur due to a covered suspension of operations.
      • Chubb’s period of restoration will also continue regardless of expiration date.
    • Preservation Of Property
      • Coverage for any direct physical loss or damage to a property if it is necessary to move the covered property in order to preserve it from loss or damage for a specified number of days.
To learn how Chubb BOP can better protect your small business clients, please contact your Chubb Small Commercial Insurance territory sales leader.