Filed Under:Risk Management, Loss Control

Wild Weather Blows Open the Realm of Potential Liabilities at Museums

From responding to extreme weather conditions and preventing theft to exploring new ways of growing attendance and revenue numbers, museums face a daunting list of challenges in this stagnant economy.

Philadelphia Insurance and other carriers are handling the rise in extreme weather events by conducting more frequent site inspections and testing insureds’ emergency-response procedures. For the moment, as long as carriers remain satisfied that museums are properly addressing risks, pricing is stable and coverage remains available.

Hedges, for instance, felt comfortable underwriting a waterfront museum in Florida because it had installed windows rated to withstand 150-mile-per-hour winds. But if the rash of so-called “100-year storms” persists in certain regions, she says, it’s only a matter of time before carriers are forced to re-evaluate their offerings.

Featured Video

Most Recent Videos

Video Library ››

Top Story

Taiwan earthquake collapses two high-rises. Shoddy construction investigated

The Taiwanese government has ordered an investigation into a building's collapse, as images show tin cans built into the walls of the toppled complex.

Top Story

20 of the wealthiest places in America

If you want to build your roster of high-net-worth clients, these are the cities you should be targeting.

More Resources

Comments

eNewsletter Sign Up

PropertyCasualty360 Daily eNews

Get P&C insurance news to stay ahead of the competition in one concise format - FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.