Art Insurance Protects Title

The latest attempt to tame the wild and woolly world of art is a new brand of title protection insurance. Although various businesses and nonprofit organizations maintain databases of lost or stolen artworks and grapple with ways to guarantee authenticity, New York-based ARIS Title Insurance Corp. offers a policy designed to insure the ownership of works of art. Six years in development and six weeks on the market, the new product is similar to real estate title insurance. Their brainchild, Art Title Protection Insurance, "transfers risk to a third party so that people can buy and sell art with the confidence that there is not a World War II claim, an import-export issue or a lien or judgment against the artwork. Other companies offer insurance for theft and damage. The new product focuses exclusively on ownership. For the full story - click the title Irish Art