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Readers Respond To ‘Totaled’ Art Column

Last months “FC&S Answer” column (see May 28, page 4) prompted a number of readers to write to us about one of the topics covered: salvage rights on totaled artwork for which the insured was indemnified, with the insurer looking for policy justification for acquiring the artwork.

In this scenario, an insureds artwork was damaged–some repairable and some not. The insurer paid for the restoration of the repairable pieces and indemnified the insured for the pieces that were “totaled.”

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