Business Insurance for Cultural Institutions

Insurance for Cultural Institutions

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

Zurich Summit Package (property and casualty coverage)

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.

Property Insurance

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.

• Real property does not exclude insureds interest in:
  • Underground pipes, flues, drains and foundations of buildings, machinery or boilers
  • Paved surface
• Personal property includes:
  • Personal property of others in your care, custody
  • Finished Stock and Merchandise sold but not delivered at Selling Price
• Better Green^TM – coverage to rebuild to the same or higher green standard automatically included via sublimit after a covered loss
• Worldwide Mobile Communications Property
• Flexible Accounts Receivables, Valuable Papers, Computer Systems
• Combined Business Income and Extra Expense Form with no deductible for Extra Expense
• Flexible Extended Period of Indemnity options
• Unscheduled Locations time element coverage sublimit included in base Business Income with Extra Expense Form
• Ordinance or Law applies to all covered property and time element loss, not just buildings

General Liability

Coverage highlights that include:

• Broad Named Insured (includes Partnerships, Joint Ventures and LLC’s)
• Automatic Blanket Additional Insured
• Automatic Waiver of Right of Subrogation and primary non-contributory conditions
• Definition of Bodily Injury includes mental anguish, mental injury, shock, fright or death

Auto

Auto coverage to protect against third-party liability and property damage for owned fleets and non-owned and hired vehicles.

Broadening endorsements include:

• Loan / lease gap
• Employees as insureds
• Fellow employee
• Hired car loss of use
• Hired auto-worldwide coverage
• Waiver of subrogation when required by contract

Workers' Compensation

Zurich provides options designed to get your workforce back to work quickly and safely.

• Level and variable dividend options
• Loss-sensitive deductible programs available
• Flexible payroll reporting options

Umbrella

Additional liability protection with Zurich’s True Coverage A “follow form” Umbrella contract.

Cyber

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.

International Coverage

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)

• Coverage for domestic companies moving into the global arena

Zurich Envoy^® (packaged property, casualty and more)

• Coverage for companies with an established foreign presence

Zurich Envoy^® Global Property

• Coverage for larger and more complex risks, our "all risk" property form was built with both domestic and global clients in mind, providing flexibility and alignment with applicable insurance regulations in all jurisdictions where we provide insurance.

Zurich Travel Assist

• Provides concierge services (e.g., forgotten prescription, lost passport) and facilitation for medical and security needs