Ill. Admin. Code tit. 23, § 3300.60 - Insurance Requirements
Current through Register Vol. 46, No. 15, April 8, 2022
The following insurance requirements must be met:
a) The borrower shall insure the object at
the value stated by the DMAIL, which shall be determined in one of the
following ways:
1) Appraised value;
2) Value as determined by restorer;
or
3) Comparison to similar
artifact whose value has been determined by an appraiser or restorer (e.g., two
Civil War battle flags).
The insurance shall be in force from the time the object leaves the physical possession of the DMAIL until returned.
b) The policy shall be an all-risk
policy subject only to the standard exclusions with the DMAIL as a named
insured.
Notes
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