Global Risk Art Survey Program (GRASP)
What is GRASP?
GRASP is a sophisticated web-based risk assessment and management tool which allows you to:
- Track risk assessment survey programs
- Manage mitigating actions
- Conduct trend analysis
- Run management reports across your risk profile.
The GRASP standards are the basis for the new CEN (European Standards) approval and standards number, currently being formalised.
Benefits to you
Fine Art presents a unique risk profile. As an internationally recognised standard GRASP allows museums and galleries to gain a competitive advantage through:
- Promoting your GRASP rating when bidding for local and international exhibitions and fine arts
- Leveraging your rating to a broader panel of insurers, increasing competitive tension when marketing your programme.
The Assessment
An Echelon assessor will meet you at the site(s) to review management controls, and appropriate documentation and facilities used to provide services.
GRASP assesses approximately 1,200 different items to produce a rating for each location. The survey measures the specific risk and safety factors against agreed criteria.
The rating looks beyond the property underwriting report, considering elements of security and property conservation taking a holistic view of the asset.
The assessment considers the storage, exhibition or transportation in terms of the suitability to house fine art.
Recommendations are made for actions to improve your rating.
Background
In 2004 a fire at a major fine arts storage facility in London had devastating impacts for the industry. As a result GRASP was developed providing a standardised risk management tool for underwriters world wide including Lloyds of London. AXA Art leads the programme, however currently a panel of 21 individual subscribing underwriters support the programme.
Including art storage warehouses, transporters, Art Galleries and Museums. GRASP, accredited locations, have the most effective operating procedures and management controls together with the necessary physical and electronic systems in place appropriate to protect fine art while in storage.
Global Risk Partners (GRP) and their authorised representatives are specialist risk consultants who deliver the programs globally.
Global Risk Partners
Combining first hand operational and management experience, together with an analytical model for identifying and assessing risks, GRP highlights areas of exposure and provides a range of practical solutions. Working with the client GRP and Echelon as their exclusive authorised representatives in Australasia identify the most relevant risk mitigation measures and in developing risk management programs and training.
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