In the wake of the Louvre heist, art collectors are rethinking how to secure and legally protect their collections. Tarter Krinsky & Drogin Art Law Group Chair Leila Amineddoleh explains the importance of key strategies for collections management, insurance, and ownership protection.

Hundreds of articles about the Louvre theft are circulating on the internet.[1] In case you missed it, four thieves broke into the world’s most-visited museum on October 19 and made off with over $100 million in rare royal jewels. It took criminals about seven minutes to commit the heist.

This scandalous theft has forced art owners to grapple with the challenges associated with securing and protecting art, leading both private collectors and public institutions to consider collections management issues and reevaluate the care of their collections.

While dramatic art thefts occasionally take place, the vast majority of art related incidents occur while works are in storage, in transit, or in the possession of its owners (during natural disasters, while on display, in the custody of a disgruntled partner, or due to exposure to poor weather conditions, leaks, and perhaps even an energetic child or pet).