Philadelphia Insurance Broadens Fine Arts Coverage for Museums, Cultural Institutions

BALA CYNWYD, Pa., Nov. 21 -- Philadelphia Insurance Companies, a property, casualty and professional liability insurance company, issued the following news release:

Philadelphia Insurance Companies (PHLY) is providing a new insurance solution for museums and cultural institutions through a partnership with its sister company, Tokio Marine America (TMA). The partnership gives PHLY increased capacity up to $100M per location for fine arts collections.

The new Fine Arts Collection form rounds out a full complement of coverages offered by PHLY including Property, Equipment Breakdown, Business Interruption, General Liability, Automobile, Umbrella, and Directors & Officers Liability.

"The partnership between PHLY and Tokio Marine America is vitally important to our collective focus on one-stop-shopping," said Peter Gosselink, Fine Art Specialist for Tokio Marine America. "It further strengthens our commitment to not only helping our partner brokers place their existing business, but to help our partners grow their business."

"Fine arts collections have unique exposures due to their value and the different ways they are displayed and maintained," commented Bob Groff, Assistant Vice President of Underwriting at PHLY. "PHLY's new Fine Arts Collection form enables us to provide specific coverage enhancements to fit the exposures of these collections."

Highlights of the new Fine Arts Collection form include Worldwide coverage, Wall to Wall coverage (including coverage while in transit and on loan), Shared Deductible, Title Defense coverage, Restoration, Retouching, Conservation coverage, $100M by Location coverage limit, and Fine Arts specific claims adjusters.

For more information on the new Fine Arts Collection form, please visit the Museums product page on PHLY.com or contact a PHLY Marketing Representative at 1-800-873-4552. The Fine Arts Collection form is currently available in all states except CA, CO, CT, IL, KY, MA, MT, NE, NH, NM, OK, OR, TX, VT, and WA.

About Philadelphia Insurance

Philadelphia Insurance Companies designs, markets, and underwrites commercial property/casualty and professional liability insurance products incorporating value added coverages and services for select industries. In operation since 1962, the Company, whose commercial lines insurance subsidiaries are rated "A++" (Superior) by A.M. Best Company and "A+" for counterparty credit and financial strength by Standard & Poor's, is nationally recognized as a member of Ward's Top 50, National Underwriter's Top 100, and one of the Top 150 Workplaces in America. Policies are underwritten by Philadelphia Indemnity Insurance Company, admitted in all US states and D.C. except Louisiana, and Tokio Marine Specialty Insurance Company, a surplus lines insurer admitted in Delaware for surplus lines and authorized in all other US states and D.C. The organization has more than 50 offices strategically located across the United States to provide superior service. For more information, please visit www.PHLY.com.

About Tokio Marine America

Tokio Marine America (TMA) is the new brand for Tokio Marine America Insurance Company (TMAIC), Trans Pacific Insurance Company (TPI), and TNUS Insurance Company (TNUS). For over 100 years, TMA has offered comprehensive commercial property and casualty insurance products to some of the world's largest and most distinguished organizations in a variety of industries in all 50 U.S. states, Puerto Rico, and the District of Columbia. With the highest financial strength rating "A++" (Superior) by A.M. Best Company and "A+" rating for counterparty credit and financial strength by Standard & Poor's, TMA provides unique insurance and risk management tools from experienced staff, and fair and timely claim settlements from a skilled team of claim professionals. For more information, please visit www.tmamerica.com.

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