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Air freight of artworks

Air leg of an art shipment, where the insurer caps the value loaded per aircraft and per flight and the waybill caps the carrier.

Definition

When forty works leave a museum for a show across the Atlantic, they do not all go on the same aircraft. Art policies set a limit per conveyance, often per aircraft: above it, the art underwriter or broker spreads the crates over several flights or several days. The reason is accumulation: one accident would destroy the whole loaded collection, and the insurer does not want that maximum loss on a single line. The air carrier's liability under the Montreal Convention is capped at an amount per kilogram, twenty-six special drawing rights since the revision of December 28, 2024, a long way from the value of a painting. The owner's real protection is therefore its own policy, with the air waybill as one piece of the file. Most of the exposure is on the ground anyway: the crate goes into the hold, waits on the apron, sits in a cargo zone where the temperature swings.

Its 6 cross-references, woven across the glossary's 18 categories
Air freight of artworks: Special risks glossary illustration, AlgoPolis
Example

Textbook case: a collection of 36 pieces, 90 million euros in agreed values, leaves Paris for New York. With a per-aircraft limit of 30 million, the broker spreads the crates over three flights across two days. A crate worth 2 million is held at Roissy by a handlers' strike; the delay causes no damage and the policy is not called on.

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Related terms
Also known as

air freight of art, aerial transport of artworks, per-aircraft limit art, art shipment by air

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