Case Study: Professional Liability Insurance for a Small Art Conservation Business

The Challenge

A small art conservation business needed a Miscellaneous Professional Liability (MPL) policy tailored to its specialized work. Conservators handle priceless and irreplaceable pieces for museums and private collectors, requiring coverage that addresses their unique professional exposures. Standard MPL policies may not fully account for risks such as restoration disputes, valuation concerns, or liability claims related to treatment methods. Securing the right policy requires an insurer with expertise in understanding the nuances of conservation work and structuring coverage to protect against these specific professional risks.

With these challenges in mind, the conservation business needed a customized policy that offered broad protection at an affordable price.

Flow’s Impact

Flow brokers were able to help the company assemble a Miscellaneous Professional Liability (MPL) policy with a $1M limit for $3,500 annually. The policy included:

• Professional Services Liability
  Covers damages and defense costs from restoration errors.
• Personal Injury Protection
  Covers issues like unauthorized disclosure (e.g., mentioning work on a private collection that should remain confidential).
• Bodily Injury/Property Damage Carveback
  Covers damage to property and bodily injury normally excluded from Professional Liability policies.
• Supplemental Coverages
  
  • Pre-Claims Assistance
    Helps prevent and mitigate potential claims before they escalate.
  • Withheld Client Fee Coverage
    Covers partial fees when disputes arise over completed work, if, for example, the owner of the work is unhappy with the outcome of the restoration.
  • Disciplinary Proceedings
    Pays for court attendance and expenses.
  • Reputation Protection
    Covers certain fees and expenses for restoring consumer confidence in the insured after an adverse media publication.

Key Takeaway:
Customized policies are not just for big businesses. Small and midsize businesses can access comprehensive, high-value coverage typically reserved for larger firms. With tailored insights, the brokers at Flow Specialty Insurance even help niche industries like art conservation receive the specialized protection they need to keep doing their jobs with confidence.