Art Insurance Claims From Hurricane Sandy at $500 million

December 30th, 2012

Art insurance claim totals from Hurricane Sandy are estimated to climb to $500 million, $300 million of which are claims by the artist Peter Max. The number is much higher than initially estimated — AXA, one of the largest insurers, had initially estimated that it would pay out $40 million in losses. The total number includes damage to artwork as well as to gallery structures.
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