An eye for authenticity.
Success in the fine art insurance market is largely dependent on expertise, says Daniel Wood. Being able to draw on specialised knowledge to spot forgeries is invaluable in reducing fraudulent claims and may even be a deterrent to would-be counterfeiters.
The world of fine art insurance conjures up images of daringmasterpiece heists and seedy, underground fraud cartels. But despite the
glamorous image of high-level deception, serious art fraud is actually
quite rare.
The vast majority of dealers, clients and claims are reputable and
legitimate - even if the artwork itself is not.
Though forgeries exist, purchasing a fake is easily avoided and the
counterfeiters' impact is minimal in insurance terms. Conducting due
diligence and establishing accurate
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