art insurance News

Art Thefts, Such as Dresden Jewelry Heist, Are Here to Stay: Opinion

The management of Dresden’s Green Vault, where the biggest museum heist in post-World War II German history took place on Monday, has declined to estimate the market value of the stolen jewelry “because it is impossible to sell.” That, sadly, …

Germany’s Green Vault Museum Finds It’s Uninsured for $1 Billion Theft of Jewels

A day after burglars made off with priceless jewels from a German museum, pressure is growing on police to find the culprits. One big reason: The diamond-encrusted dagger, pearl necklace, and dozens of other glittering artifacts—estimated to be worth more …

Thieves Steal Priceless Items from Dresden’s Treasury Green Vault; Hiscox Comments

Thieves have carried out a heist at Dresden’s Green Vault, one of the world’s oldest museum containing priceless treasures and jewels, German officials said Monday. The treasury of Augustus the Strong of Saxony was established in 1723 and today contains …

Generali Launches Art Insurance Unit, Aiming to Be ‘Partner for Life’ for Collectors

Italian insurer Generali launched a new business Tuesday to cover art works, engaging as a poster boy the contemporary artist Maurizio Cattelan, whose gold-covered statue valued at 2.4 million euros ($2.6 million) was stolen earlier this year from an English …

18-Karat Gold Toilet Stolen From Winston Churchill’s Birthplace

Burglars overnight broke into England’s Blenheim Palace [on Saturday, Sept. 14], the birthplace of Winston Churchill, and stole an 18-karat gold toilet on display as part of an art exhibition. The thieves took the “high-value” item, causing significant damage and …

Why Art Thieves Are So Successful

Last month, administrators at the Boston Public Library discovered that a $600,000 engraving by Dürer and a $30,000 etching by Rembrandt had gone missing. It set off a media firestorm, the director of the museum resigned, and then … a …

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 …