Claims Handling Philosophy

It is the core belief of AXA Art Insurance that every policy holder is entitled to the highest standards of claim resolution. Our claims professionals are recognized leaders in the field of art and collectibles loss adjustment and work with the insured to resolve claims expeditiously and fairly. In addition to in-house art expertise, our Claims Department collaborates with leading authorities among appraisers, conservators and restorers to provide creative solutions to difficult and unusual losses. Our resources allow us to maintain our competitive edge while also providing our insureds with the confidence that their claims are being handled with the highest industry standards.  

How is a Loss Reported

The insured should notify their broker of a loss as soon as possible. This will help expedite the claims process and minimize the possibility of further damage to the covered artwork. After the broker submits the loss to our claims department the insured will be contacted via telephone by our staff adjuster who will work with the insured to gather all relevant documentation. Once the documents have been received the adjuster will work with the insured to settle the claim mutually on agreeable terms. After the claim has been settled, an AXA Art Insurance representative will contact the insured to confirm that the claim was handled courteously and professionally. This quality control questionnaire will allow us to maintain the highest industry standards for claim resolution.

When Art is Lost or Stolen

To begin the claims process, we will need several things. First, verification of the loss. In the case of theft, this is typically accomplished with a police report. If theft is suspected and the object was quite valuable, the police will likely wish to conduct an investigation, which will be greatly aided if you have left the scene undisturbed.
 
Second, we will need a thorough description of the object—ideally, an Object ID report including photos from your inventory. This description will help us and the appraiser determine the object's current market value. Once value is established, and all pertinent documentation submitted, the claim will proceed quickly towards resolution.
 
Any art or collectible insured through us is automatically listed with The Art Loss Register, an international database of stolen works. Since its inception in 1991, it has helped recover more than 1,000 stolen objects worth a total of $100 million. Anyone considering purchase of a work of art or a collectible from any source but the artist or a primary dealer—the artist's official representing gallery—is urged to check with Art Loss Register to be sure it is legitimately offered for sale. The small fee involved is well worth the assurance of legal ownership.
 
Should a stolen work we have paid a claim on turn up in public, we will attempt to recover it. If successful, we will ascertain its current market value then offer it to our policyholder for that price. It is always the policyholder's decision whether to buy the work back or keep the claim payment.

Contact

For more information, or to submit a claim, please contact:

Colin Quinn
Director, Claims Management and Loss Control Services
Tel: (212) 415-8433
Fax: (646) 964-6539
cquinn@axa-art-usa.com