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. (more…)

Paula Cooper, 74, discusses why she thinks the art world has become too homogeneous and ruminates that perhaps she’ll leave Chelsea. The first gallerist to open a space in Soho and one of the first to move to Chelsea in the 90s, she has seen major changes in her 40+ years in the business, but continues to draw crowds and run her gallery’s program with a youthful energy. (more…)