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Insurance and Engineering Consulting Company Contributes to Community Through the Arts

Company: HSB Group, Inc. (Formerly Hartford Steam Boiler Inspection and Insurance Company)
Headquarters: Hartford, Connecticut
Industry: Specialty Insurance and Engineering Services
Company Size: Large (annual revenues of more than $250 million)

"All of us at HSB Group are thrilled to be able to keep this great collection where it can be enjoyed by those who visit The Florence Griswold Museum, an institution devoted to the art of Connecticut."
                – Richard Booth, President and CEO

Objectives
To preserve a significant collection of American art as an entity, to ensure public access to the collection and to position the company as a supporter of Connecticut’s art and culture.

Process

  • Amassed over a ten-year period, HSB’s collection of American Art — comprising the work of American artists working in Connecticut from the late 18th to early 20th centuries — was established for the education and enjoyment of employees, visitors, and customers of HSB.
  • During the course of merger discussions between HSB Group and American International Group (AIG), the two companies agreed to donate this collection to the Florence Griswold Museum in Old Lyme, Connecticut, instead of selling the works and realizing substantial financial gains.
  • Books, note cards, posters and postcards of the works were also developed and given to visitors to promote the art of Connecticut. Additionally, HSB conducted outreach efforts to attract students of all ages to learn about the art and history of Connecticut.
  • The collection is now housed in a dedicated gallery space at the museum, and is being incorporated into museum education programs.

Results
In addition to enlarging the Museum collection by 20% and accelerating its plans for a major expansion, the donation assured that the collection would stay in Connecticut permanently where it serves as a major cultural asset to residents and visitors. The program also generated significant media coverage, which heightened HSB’s image as a strong supporter of the arts in Connecticut.

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