Petra Eibel – On Art Insurance and the Liability of Art
1. October 2008, 20:46:37 unter: Audio, Austria, German, Interviews, Podcasts, ViennaWhy are works of art valuable to us on a personal level? Sometimes, their value lies in how they link up with our origin: for example, an old picture which has been in the possession of our family for generations. It can also lie in its symbolic nature, if the acquisition of a work of art is coupled with a special moment in our life. Sometimes, our memories are kept alive by a work of art, addressing us in special ways that invoke happiness, reflection, or tranquility.
The art of insurance in a changed world of art. Part 1
| send feedback 
Art insurance for whom, at what time, and at which price. Part 2
| send feedback Steps for the insurance of art and possibilities of prevention. Part 3
| send feedback Beyond the personal level, art objects can be treated as cultural properties. They may possess for us unique and irretrievable styles. Their settings represent the development of certain ideas or groups of artists. They may document the awareness of the life of a generation, working as collective memories, verifying the strength of the multiplicity of human expression.
When the value of a work of art is established in financial terms, it is based on professional concerns or future precautions. It then offers an issued return or the chance to invest money profitably.
Given the multitude of priorities, insurance is an important topic in the world of art and it is requested for a variety of reasons. CastYourArt was interested in investigating these possibilities and met with Dr. Petra Eibel from UNIQA for a discussion over the matter. As a director of the department of art insurance, she includes the business of insurance from a cultural standpoint in her job description – as was the case with the recent famous theft of the salt chamber from the Kunsthistorisches Museum in Vienna. At the same time, she has many years of experience of dealing with damage avoidance in the exhibition business, art trade, and private sector.
What are the most frequent cases of damage within the art industry and how could they be avoided? For whom does art insurance make sense? What steps need to be taken in order to establish secure insurance? How much does the insurance of art cost and what services are available in the case of emergencies? To find out more about these and other questions on art and its liability, check out our three-part interview with Dr. Petra Eibel from the art insurance company, UNIQA. (wh/jn)
