Ron Perelman's Fight Over $410 Million in Art Insurance Goes to Trial
Nearly seven years after a fire ripped through Ron Perelman's Hamptons home, he is asking a New York state judge to force insurers to pay him more than $400 million for five paintings he says were damaged in the blaze.
A trial kicked off today in lower Manhattan over a lawsuit Perelman filed two years after the fire. In the suit, he claims that affiliates of Lloyd's of London Ltd., Chubb Ltd. and American International Group Inc. issued policies that 'protected one of the largest private modern art collections in the world from any damage, no matter how slight' — but balked when he sought compensation for the most expensive pieces in the residence. Those included works by Andy Warhol and Cy Twombly.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News24
14 minutes ago
- News24
Looking for the perfect Father's Day gift? Leatherman has two perfect products.
The best tool is something that's small and light enough to be close by when you need it. These two Leathermans will put a sparkle in Dad's eyes. Built tough, sized right The Rebar packs serious capabilities into its slim, 10 cm frame. It weighs less than 190 g but puts 17 essential tools in your pocket, readying you for any task at work or home. That includes: needle-nose pliers, regular pliers, wire cutters, hard-wire cutters, electrical crimper, wire stripper, knife, serrated knife, saw, can opener, bottle opener, wood/metal file, Phillips screwdriver, large and small screwdriver, and a ruler. Its design is classic Leatherman, taking its cues from the original Pocket Survival Tool released in 1983. Rebar features contoured handles for a confident and comfortable grip for security and confidence under demanding conditions. Rebar features all locking tools, so you can apply a lot of pressure, knowing it won't move or fold. Available in Burnt Sienna, and Mossy Slate. Each new Rebar colourway includes a matching nylon sheath. It also has a lanyard ring so that you can take it everywhere with you. The name is Bond . . . Leatherman Bond Inspired by Tim Leatherman's original Pocket Survival Tool, Bond pairs classic design with the tools needed to tackle everyday tasks. At a mere 176 g, this lightweight multi-tool provides 14 essential implements including pliers, a durable 420HC knife blade, and a set of standard screwdrivers. It also has wire cutters, can and bottle opener, and a ruler. All packed into a 10 cm frame (closed length). The Bond's handles are contoured to give you a comfortable grip while using the tools. The colour options add a vibrant Cerakote finish to the handles for increased durability. Cerakote is a thin-film, ceramic-based coating known for its durability, hardness, and scratch resistance. Available in Burnt Sienna, Mossy Slate, and Heathered Cranberry. Each Bond colourway includes a matching nylon sheath. Stainless steel Bond also includes a nylon sheath. For more on these plus other excellent Leatherman products, go to
Bloomberg
40 minutes ago
- Bloomberg
Israel-Backed Gaza Aid Group Suspends Operations for Second Day
An Israel- and US-backed mechanism to distribute food in Gaza suspended operations for a second day following a series of deadly incidents near its sites that drew international criticism. The Gaza Humanitarian Foundation, a Swiss-based nonprofit, launched in Gaza last week following a months-long Israeli blockade of the territory, and says it has handed out enough food staples for millions of meals. But the roll-out has been dogged by overcrowding and at least one incident in which Israeli forces, citing a security threat, fired toward Palestinians headed to a GHF aid center.
Bloomberg
40 minutes ago
- Bloomberg
P&G Plans to Cut 15% of Office Jobs Over Next Two Years
Procter & Gamble Co. plans to cut as many as 7,000 non-manufacturing jobs over the next two years as part of an effort to improve productivity. The reductions would amount to about 15% of the US consumer goods company's current non-manufacturing workforce, P&G said in a presentation posted on its website.
