Research And Suggestion On Domestic Artwork Insurance Market

With the rapid development of social economy and increasingly frequent cultural communication, the artwork exhibition also increases by years and there are more and more artwork collectors. Also, the artwork trading market becomes increasingly prosperous. There are many kinds of classifications of artworks. Generally, the artworks with the collection value include the calligraphy, painting, porcelain and jade. The common features of these goods are that they are easy to be folded, torn, broken and damaged by worms. Therefore, artworks have the highest risk, compared with other investment items. Additionally, various risks may be generated in the maintenance, exhibition and delivering process of artworks, such as damage due to the transportation and loading&unloading, damage due to the steal, damage due to the fire hazard and flooding, damage because of the maintenance environmental factors and other factors. To avoid these risks that may happen, it is required to build and develop the artwork insurance market. The artwork insurance in most of developed countries has been a quite mature industry, with good insurance system. Nevertheless, the development of Chinese current artwork insurance market is still in the early stage. According to the statistics, the insurance rate of domestic artwork exhibition only reaches10%. Besides, artworks in lots of museums and galleries are even never insured. However, people have increasingly larger demands on artworks. Collecting artworks has been a kind of irreversible trend. Therefore, developing the artwork insurance market is of great significance in the development of Chinese economy and culture. This paper introduces the significance of developing the domestic artwork insurance market and analyzes its current situation as well as the problems. Meanwhile, by learning from the foreign artwork insurance development, it proposes some advices for the development of the domestic artwork insurance market.