Insurance giant QBE has ditched proposed changes to a policy held by thousands of Australian artists that could have left them unable to work on large-scale and public art projects.
About 6000 artists rely on a $ 316-a-year QBE policy to cover their work, but amendments would have excluded artists working at heights of more than five metres, according to the National Association for the Visual Arts (NAVA).
Artists working at lower heights were also facing extra premiums of about $600.
The carve-outs would have effectively prevented artists doing public art and mural projects or installing their own work in galleries, Penelope Benton from NAVA said.
But following weeks of negotiations, QBE has agreed to maintain its insurance coverage for artists working at heights of up to 15m.
"We thank NAVA for their collaboration and look forward to continuing to support the visual arts and recreation community," the company said in a statement.
The proposed changes were the latest in a series of carve-outs made to the policy since November 2022.
Benton said affordable insurance through QBE has made a valuable contribution to the careers of Australian visual arts, craft and design practitioners for the past decade.
However, the wind-back is yet to be confirmed in writing by broker Local Community Insurance Services, according to Benton, who fears the deal could fall through.
The broker has already told some artists to pay a $700 premium for working at heights of between two and five metres, while others have been told their policies can't be renewed, she said.
It's not yet clear whether these artists will still be able to access the policy, or whether any extra premiums will be repaid.
Broker Local Community Insurance Services has been contacted for comment.
