ABSTRACT
These are examined in this unit. Insurance is a complicated subject and, because insurance requirements and approaches vary from one country to another, specialist
advice is required from reputable insurance brokers. In principle, insurance provides fi nancial protection for property or people against specifi ed contingencies such as loss, damage or injury. It involves the payment of regular premiums in return for a policy guaranteeing such protection. It does not prevent such contingencies, but compensates for them fi nancially in whole or in part. Given the range of coverage – collections, buildings, building contents and people – insurance can also be expensive. It is therefore well worth comparing insurance products and prices from a number of companies to ensure best value for the museum.
