Reports & Papers-U.S. Government Arts & Artifacts Indemnity Program

U.S. Government Arts & Artifacts Indemnity Program

Pdf Summary

The U.S. Government Arts and Artifacts Indemnity Program was established in 1975 to minimize insurance costs for exhibitions, overseen by the NEA and the Federal Council on the Arts and the Humanities. The program covers eligible objects with cultural or historical significance domestically and internationally. The program allows up to $1 billion in coverage for a single domestic exhibition, with a total coverage cap of $7.5 billion for all exhibitions. For international exhibitions, coverage goes up to $1.8 billion, with a $15 billion total cap. Eligible objects include artworks, rare documents, and more. The program has saved organizers over $230 million in insurance premiums. <br /><br />The application process is stringent, requiring previous experience in organizing international exhibitions and hosting museum-quality events. The program provides indemnity against various risks except for normal wear and tear. Deductibles vary based on the exhibition's value and whether it's domestic or international. Organizers may need commercial insurance for elements not covered under the program, such as specific types of art or when the exhibition value exceeds the program's limits. There are detailed guidelines and procedures to follow, including the involvement of experts in valuation, approval of packing and security arrangements, and the presence of a courier during shipments. The program ensures broader coverage than commercial insurance, including protection against war, nuclear, and terrorism-related risks. References and links to program details and applications are provided for further information.

Keywords

U.S. Government Arts and Artifacts Indemnity Program

NEA

Federal Council on the Arts and the Humanities

insurance costs for exhibitions

cultural objects

historical artifacts

international exhibitions coverage

indemnity program guidelines

museum-quality events

commercial insurance for art exhibitions