The $1.8 million watch owned by record producer and rapper Timbaland hasn't been seen since his 2-year-old daughter played with it.
And he wants a subsidiary of American International Group (AIG) to compensate him for the loss.
According to a lawsuit filed late last year in state court by Timbaland—whose real name is Timothy Mosley—the producer is suing American Home Assurance Co. for breach of contract since the insurer has not paid for the loss. The case was just moved to U.S District Court in Miami.
Timbaland insured his jewelry, valued at $4.85 million, for a total premium of about $54,500.
According to court documents, Timbaland wore the watch to a late-night recording session in August 2010 and put it on his nightstand when he returned home and went to bed. He woke up and it wasn't there.
Timbaland "demanded that [American Home] and his wife appear for examinations under oath," at which time he and his wife testified that they believed their young daughter "saw the watch on her father's night table while he was sleeping, picked it up and played with it until she became bored and discarded it somewhere. It has never been found."
The policy includes an endorsement specific to the watch—a limited edition design by Jacob & Co. with 38 carats of special-cut baguettes diamonds and white gold. According to the endorsement, the insurer says it "does not cover any loss or damage caused by theft or mysterious disappearance, unless evidenced by forced entry."
Among a list of exclusions outlined in the policy on Chartis Private Client Group paper is one on "misappropriation," which says the insurer will not cover "any loss caused by the taking or other misappropriation of a valuable article from you or a family member by you or a family member."
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