What it does
Carrier forms schedules list IH 00 86 as the Fine Arts Dealers And Galleries Coverage Form. ISO publishes this form in its IH series of commercial inland marine forms. IH forms are used within the Commercial Inland Marine Coverage Part, together with the Commercial Inland Marine Conditions (CM 00 01) and the Common Policy Conditions.
Who needs it
Galleries and dealers holding owned and consigned art for sale, at the gallery, art fairs and in transit.
Quoting and selling notes
Ask for owned versus consigned values, consignment agreement terms, art fair and exhibition schedules, transit, packing and alarm protection.
Before presenting it
ISO's IH forms are often adopted with carrier changes, and their wording differs from the filed CM forms. Obtain the carrier's specimen and walk the insured through covered property, property not covered, the exclusions, valuation, the deductible and any coinsurance or reporting condition, and match the limits to a current schedule of values.
