Press Release Details

HARTFORD, Conn.--(BUSINESS WIRE)-- Contemporary art from around the world, collectively worth billions of dollars, will be featured at Contemporary Art Week in New York, a collection of art shows across the City this week. While celebrating the artists and their work, Travelers Fine Art Insurance is encouraging the exhibitors, gallery owners and dealers to protect their investment.

Travelers recommends reviewing coverage and risk management strategies with an independent insurance agent prior to putting the finishing touches on plans for the shows. In recognition that the most frequent loss in fine art comes while the work is in transit, exhibitors, gallery owners and dealers should confirm that:

    --  The policy includes or has been endorsed to cover items on exhibition;
    --  The policy's transit and other location limits are large enough to cover
        the work;
    --  The shipper is experienced and competent in fine art packing and
        transit;
    --  A condition inspection is conducted while the work is packed and a
        complete inventory is maintained.

"The success of an art fair requires a lot of careful planning and work from many different groups," said Andrew Gristina, Fine Art Specialist, Travelers Inland. "While the works of art and the individual collectors should always be the exhibitor's primary concern, it is important that exhibitors include risk assessment and insurance coverage in their planning. Insurance can only help in recovery from accidents if the proper coverage is secured in advance."

Travelers Fine Art is a part of the Travelers Inland Network. The Travelers Inland Network provides clients with fine art underwriting expertise, access to specialized Risk Control services to help identify and reduce risks, the Specialty Investigations Group to assist in theft prevention and the recovery of stolen property, and specialized Claim professionals with the expertise needed to evaluate, defend and resolve claims. For more information on Travelers Fine Art coverage and other risk management tips, contact your independent insurance agent or broker.

About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading property casualty insurer selling primarily through independent agents and brokers. Travelers understands that life and business are inherently dynamic and that the best way to serve customers is to deliver insurance in-synch with evolving risks. The company's diverse business lines offer its global customers a wide range of coverage in the auto, home and business settings. Travelers is a Fortune 100 company, with 2008 revenues of approximately $24 billion. The company has more than 33,000 employees. For more information on being in-synch, visit www.travelers.com.

    Source: Travelers