Accurate valuations are vital for good large property risk management
At a time of high inflation and rising property insurance rates, accurate valuations are at the heart of effective risk management strategies.
Seventy-six percent of U.S. leisure travelers participate in cultural or heritage activities. In fact, more people visit art museums, science centers, historic houses or sites, zoos, and aquariums than attend professional sporting events.1 These institutions need to understand how their unique exhibits and operations influence their property, casualty, cyber, D&O, international operations, and other risks to their organization to ensure they have the correct coverage.
“Museum Facts: Details”, American Alliance of Museums, https://www.aam-us.org/wp-content/uploads/2021/02/2021-AAM-Museum-Facts-Details-FINAL.pdf, February 2021
For more information, contact:
Kate Bernay
Head of General and Developing Industries
U.S. Middle Market
Mobile: 610-308-0043
kate.bernay@zurichna.com
Zurich offers an integrated approach to help customers respond to the full scope of risks. Our Underwriting, Claims and Risk Engineering specialists help you understand the unique exposures your organization has, helping allow for a holistic risk management plan that encompasses prevention through post-event recovery.
We offer:
Targeted cultural institutions
Coverage is available for businesses including, but not limited to:
Because your organization heavily interacts with people, you will need both property and casualty coverage. Zurich’s Summit Package utilizes our market-leading property insurance form along with our ISO-driven general liability coverage.
Zurich Property Portfolio Protection (PPP)
An industry-leading property form built for the middle market customer, Zurich’s PPP provides broad and flexible coverage with simplified language.
Coverage highlights that include:
Auto coverage to protect against third-party liability and property damage for owned fleets and non-owned and hired vehicles.
Broadening endorsements include:
Zurich provides options designed to get your workforce back to work quickly and safely.
Additional liability protection with Zurich’s True Coverage A “follow form” Umbrella contract.
Zurich’s Cyber Insurance Policy helps address the cyber risks customers face. Our product helps customers respond rapidly to the impacts of cyber attacks, with advice and help from dedicated cyber risk professionals.
Companies can have international exposures even if they don’t have a cross-border physical location. Zurich’s extensive international network of more than 210 countries and territories can help keep you protected wherever you conduct business. Coverage can include:
Exporter Solutions (packaged property, casualty and more)
Zurich Envoy® (packaged property, casualty and more)
Zurich Envoy® Global Property
Zurich Travel Assist
Having the right Claims professionals and programs in place to serve cultural institution customers can help reduce total cost of risk and drive ongoing, sustained savings.
Consistent, knowledgeable, and responsive point of contact:
Team approach that includes Claims Servicing, Underwriting and other experts:
Digital Solutions:
Cultural Institution organizations that should consider commercial insurance for protection include:
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At a time of high inflation and rising property insurance rates, accurate valuations are at the heart of effective risk management strategies.
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