Fine art insurers face claims of up to half a billion dollars, their biggest ever payout, to compensate the owners of artwork destroyed when Superstorm Sandy flooded galleries in New York.
For example, these players say, the margins are thin, and because of the quick growth, capacity is becoming an issue. It is also, in the view of one major broker in the field, wrought with "moral
A recent federal court decision held that financial loss resulting from the consignment of paintings by their owner to an art dealer can constitute physical loss to property under the terms of an