Valuable artworks require careful handling and protection, especially when displayed during exhibitions and public events. Even minor damage can affect both their artistic and commercial value.

In one recent case, PowerWealth assisted a client in processing a fine art damage insurance claim involving two archival photography prints on canvas that were exhibited during an art expo held at a mall in the National Capital Region.

Following the event, the owner discovered multiple scratches and visible surface damage on both pieces. Due to the condition of the artworks, the owner determined that they could no longer be sold in their original market condition.

The incident was formally documented through a certification issued for insurance and legal purposes. Supporting documents and verification procedures were also completed to facilitate the claims process.

With PowerWealth’s guidance and claims assistance, the client successfully processed the reported loss and received a total claim amount of PHP 163,248.00 under a Fine Arts Insurance Exhibition Cover policy. The coverage was secured with a premium payment of only PHP 7,803.07.

This case highlights the importance of protecting valuable artworks against unexpected risks during exhibitions, transportation, and storage. Having the right insurance coverage and dependable claims assistance can help owners recover from financial loss when unforeseen incidents occur.