129782592931562500_151Art insurance money-laundering mystery: lost 850 million of insurance form
Since the end of last year, Feng Tai insurance (Asia) limited, Shanghai Branch Deputy General Manager Yuan Yinghui figure, appear frequently in major art investment forum, told the large number of domestic art collectors to share all kinds of packaging and transportation of works of art of the latest technology, to attract their attention to art insurance. However, the latter on the cognitive aspects of art insurance blank, Yuan YingFAI in embarrassment. He asked the most questions is, can provide false identification, value assessment and the corresponding works of art including works of art insurance services? According to art insurance services, identified with the valuation assessment should provide authoritative assessment institution by a third party, but such professional organizations in China is quite scarce. The end of 2010, China insurance regulatory Commission published jointly with the Ministry of culture of the customsNotice in support of cultural industry development in the work of the insurance industry, determine the first 11 pilot insurance (comprehensive insurance includes works of art), and to determine people's property insurance company, China Pacific property insurance company and the China export and credit insurance corporation, three pilot operation of the two-year period. As of now
tera gold, the insurance contract cases still few domestic works of art
tera power leveling,Art trade with China as the world's fastest growth markets did not match. And impede the rapid development of the insurance market in domestic works of art, not just the lack of authoritative third party assessed institutions, there may be hidden risks of money-laundering. Art insurance "lack of service"? As China ranks among the world's fastest growth in art market, art insurance market development are also rises�� Ministry statistics show, 2010 China's art market transactions only amounted to $ 169.4 billion. According to half of art insurance, comprehensive insurance rate 1% calculations, art insurance premium revenue of nearly $ 850 million a year. However, in the face of huge market cake, insurance companies are always "stagnation". Until August last year, the domesticComplete art first single comprehensive insurance, casualty branch in Beijing by the Chinese as a total value of $ 120 million of 29 works of art collections, exhibits, transportation art comprehensive insurance. End of February this year, Feng Tai insurance from the China insurance regulatory Commission granted to enterprises and private collectors, art exhibitions and art insurance, transport insurance business license, has interviewed 10-15 home collection loveCollection agencies such as well and the Museum, but finally completed the first one, will take some time. "Not the insurance companies are reluctant to enter the art market, but most insurance companies have not yet established a comprehensive coverage of insurance products covering works of art. "An insurance company product design department who explained that the art insurance coverage often include natural disasters, accidents,Theft automatic spray water, cigarette smoke, pollution, damage, vandalism, etc, and the existing domestic works of art insurance, just by the enterprises property insurance "changes", and lack of professional art insurance. As a work of art in the process damaged a transport only, most insurance companies only damaged works of art as a claim, but does not take into account the other value of works of artThe loss, often divided on the claim. Differences, also involves the identification of institutional responsibilities, "absence". Identification of domestic insurance companies will take into account provincial art institutions (such as the Provincial Museum, the National Palace Museum) cover art set art appraisal valuation policy, such identification as a public institution, evaluation errors due to unrest in once theyUnable to bear the legal and economic responsibility, claims of contradictions and end up being passed on to the insurance company. Even if the insurance companies to provide insurance products cover all works of art protected areas, in the process of loading, storing, exhibitions of works of art, will introduce the relevant expert rectification and reform suggestion for unreasonable transport installation practices, and under appropriate storage or packaging of works of art of accident probability speedThe entire premium, such as jade, purple sand pot is not afraid of water, high temperatures, keeping storage of links lower accident risk factor, calligraphy and painting kept the tide has a high humidity and temperature requirements, and so on. But in the actual operation, due to the lack of professional art installation, transport bodies, which can only increase the premiums of insurance companies to evade the management risk, but this leave hidden claims disputes. -PassOften insurance companies to repair damaged works of art taken priority principle and repair costs and works of art (after repair) reduced the value of the corresponding fees paid the insured, but a small number of policy holders believe that insurance companies pay less by fixing the amount, and the lack of reference in art after repair value, often result in the applicant feels they spend a lot of money to insure, but insurance companies are spending more moneyMaintenance cover, caused resentment. Yuan Yinghui recalled after valuations before a work of art at auction price is $ 4 million, the auction link auction price of $ 8 million. But because of this art transportation oversight, resulting in broken payment prior to delivery, buyers and sellers on the compensation of the parties diverging (seller requirements calculated as 8 million buyers kept at 400 per cent), can only be determined by insurance companies are forced to "pay", agreed a compromise price for payment. "Due to the lack of appropriate artwork insurance dispute arbitration agencies, related disputes only by consultation between the two sides, but most insurance companies lose money, disguise a major accident as a minor one. "The foregoing insurance product design department said final insurance companies on risk controlDid not fully grasp policy not dare accept works of art
tera power leveling, insurance market in domestic works of art always is Thunder, rain point. Insurance arbitrage to be money-laundering regulation, though domestic works of art just stumbling start, has induced a few works of art "collectors" impulse of money-laundering. Yuan Yinghui revealed after he approached a Xu Beihong's art collectors to be insured, but when he offered to provideWhen you turn off the source of paintings, they just produce a Xu Beihong painting sources report written by a student, to paintings of sources played down, insisting that appreciation of the work. "Because he had been unsure about the paintings of sources and no paintings of the original file, we provided is not an insurance policy. "Yuan Yinghui told reporters, in domestic works of art insuranceInitially, does not exclude individual works of art collectors in the name of art insurance, solid line of money-laundering. In the early development of insurance market in Europe and works of art, take art insurance money-laundering were once very active. Specific manual collectors with a very high premium to the unknown origin of art insurance, and fake works of art were destroyed from the complete money-laundering after recovers compensation from the insurer. At that timeSmall number of European and American insurance companies based on business needs, "a blind eye to eye", then Europe and the financial regulators to strengthen the work of art insurance regulatory measures against money-laundering. These measures include the insured must provide insurers with detail of the cover art of the original transaction, if purchased from auction, will need to show your auctions transactions file; family collection,Whether you need insurance companies through various channels to know the insured family has history of art collections, and collections of related transactions. Once the applicant repeatedly submitted to the insurance company for a short time application of works of art, insurance company information should be handed over to local authorities of people's Bank, which determines whether there are signs of money-laundering. "For historical reasons, some domestic collectors to provideComprehensive art source, resulting in insurance companies give policyholders with money-laundering route rather than fear, arrested for receiving the policy.
"The foregoing insurance companies said members of the Department of product design, and art collector insurance expansion in private and corporate collections, than struggling, some local varieties of the art trade, particularly for the insured. Prior to this, ChengduThe calligraphy of Chang an insurance mechanism has been introduced, by the Sichuan branch of ping an property insurance for the calligraphy of Chang an asset package provides comprehensive insurance coverage of 60 million worth of art. In the eyes of members of the aforementioned product design, to avoid moral risks, is by no means easy, does not exclude individual works of art transaction prices have significantly high speculation speculation, then cover lock high prices, once the work of artWas intentionally damaged, insurance companies but speculators last pay. Insurance companies can avoid moral risks, on the one hand depends on third-party rating agencies insurance valuations of works of art are significantly deviated from the market value; the other is whether insurance companies and reinsurance companies themselves full assessment of the real value of insured works of art. "Where art of insurance companies insuranceManagement team identification itself rich in works of art background, but deficiency is the specialty of domestic insurance companies. "The person said.
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