New Products Cover Fine Art, Communications Industry.

Developed to address the unique insurance needs of large fine-art collections, particularly organizations that lease corporate art, Atlantic Mutual Cos. has debuted a fine-arts policy, which includes enhancements and a risk capacity of $100 million.

The fine-arts package combines a core policy with automatic features tailored to corporate collections. For example, the commercial fine arts policy now includes up to $10,000 for the cost to lease similar artwork when works are dam aged, as well as expenses that the insured is legally liable to pay for leased works of art. And it covers up to $2,500 to pay for extraordinary costs associated with repairing or replacing damaged property. Atlantic also will pay the reasonable expenses, up to $2,500, incurred for the taking of inventory and appraisals--at Atlantic's request--to assist in determining the amount of covered "loss."

Special features include fair-market value for partial loss, no coinsurance and a buyback option, which provides insureds with the ability to purchase recovered artwork from the company. In addition, coverage options include an inflation-guard valuation and blanket coverage.

Another new product from Atlantic Mutual provides a comprehensive insurance solution geared to the communications industry. The insurer's inland marine policy includes property exposures for towers and transmitters, antennas and satellite dishes, studio equipment, broadcast media library, head end/transmitter buildings and mobile communication/broadcasting equipment.

"With significant contributions from our agents, we've developed a communications policy that eliminates the need for endorsements traditionally added to meet the needs of the industry," said Raymond Martino, vice president, marine insurance division of Atlantic Mutual Cos. "This will be especially beneficial for the wire less industry, which has grown exponentially over the past decade."

The package combines a core policy with extensive automatic features that are significantly broader than most of the market. For example, the communications policy includes these provisions:

* Atlantic will pay up to $5,000 to remove wind-blown debris of property not covered.

* Tuning of towers--covered in full when a result of a direct loss. (Most insurers sublimit this coverage.)

* Extra expense and business income are automatically covered up to $25,000 for each, and higher limits are available.

In addition, options are available to cover electrical and mechanical breakdown-coverages difficult to obtain from most carriers--as well as replacement cost, flood and earthquake.