Art Insurance: Understanding the Fundamental Principles
Following the 2009 financial crisis and the subsequent phase of global economic recovery, the art market also experienced a renewed momentum and significant growth. This widespread transformation has intensified the demand for specialized and protective services within the art sector, including art insurance.
Art insurance is a specialized financial coverage designed to support collectors, artists, and galleries. This insurance compensates for damages, loss, or theft of artworks, providing owners with the assurance that their cultural and financial assets are safeguarded against potential risks.
Despite the critical importance of such insurance in global markets, a formal and established system for art insurance has yet to be defined in Iran, leaving collectors and industry professionals facing a shortage of these essential services.
The following text is based on the 2024 report from the website of the Insurance Business Magazine, which discusses the global trends, coverage options, and challenges of art insurance, aiming to provide a clear understanding of how artworks are protected in international markets.
1 July 2025
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Art Insurance: Understanding the Fundamental Principles 1 July 2025
Following the 2009 financial crisis and the subsequent phase of global economic recovery, the art market also experienced a renewed momentum and significant growth. This widespread transformation has intensified the demand for specialized and protective services within the art sector, including art insurance.Art insurance is a specialized financial coverage designed to support colle...
Artists' Insurance in the Institute of Development of Contemporary Visual Arts
All kinds of financial support for artists in Iran and the world 21 January 2023
Having insurance and financial support is a necessity for anyone who works in the art field. In this essay, Azadeh Bagheri introduced various non-private insurances for artists in Iran and abroad. Also, various types of credit fund services for providing financial aid to artists have been introduced.