art insurance News

XL Group Offers Artworks Coverage in UK for Art Exhibitions

XL Group has launched Key Artworks insurance coverage in the U.K. to cover cancelled or abandoned fine art exhibitions and their financial losses in cases where a star attraction art piece is damaged, stolen or otherwise unfit to be publicly …

AXA ART, Trident Insurance Partner to Offer Specialty Fine Art Coverages

Fine art insurance specialist AXA Art Americas Corporation (AXA ART) has formed a strategic business partnership with Trident Insurance Services, LLC, a member of Argo Group International Holdings, Ltd., an international underwriter of specialty insurance and reinsurance products. The relationship …

Fireman’s Fund Enhances Art Collection Product with ‘Death of An Artist’ Coverage

Fireman’s Fund Insurance Co. has introduced new death of an artist loss settlement provisions, as well as seven other coverages to additional states as part of their Prestige Collections Coverage. Fireman’s Fund coverage high value collections address elements of fine …

Portrait of New Wealth: $3 Billion Miami Art Basel Fair

Art Basel Miami Beach, the largest U.S. art fair, will offer more than $3 billion of mostly postwar and contemporary works when it opens to a select group of collectors today, a 20 percent increase from two years ago. Held …

After Superstorm Sandy, Some New York Artists Struggle to Come Back

When Superstorm Sandy slammed into New York City last October, much of abstract painter Ronnie Landfield’s life’s work lay submerged under 28 inches of water in his Manhattan studio, where he had lived and worked since 1969. Landfield has restored …

Art Insurers Face Record Loss from Superstorm Sandy

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. Work by 1960s graphic artist and illustrator Peter Max …

Heffernan Hires Torsney as Senior VP of New York Office

Heffernan Insurance Brokers, an independent insurance brokerage headquartered in Walnut Creek, Calif., has hired Catherine Torsney to join its Manhattan office in New York as senior vice president and director of its fine art, jewelry and rare collections practice. Torsney …