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Displaying items by tag: lloyd's of london

A $60 million collection of Andy Warhol silkscreens was damaged during last year's highly acclaimed exhibit of the artist's works in Italy, court papers say — and now their megarich owner wants Lloyd’s of London to pay $9 million to compensate for their loss in value.

The Brant Foundation — run by Peter Brant, husband of supermodel Stephanie Seymour — sued the insurance giant in Manhattan Supreme Court Friday, saying Lloyd's had taken premiums to insure the entire Warhol collection — including 12 Electric Chairs — but wasn't abiding by the terms of the policy, which requires it to pay for repairs to damaged artwork and for "any depreciation suffered" as a result.

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"Neptune's Daughter," a bronze sculpture that stood prominently in the Garden of Enchantment to the right of the de Young Museum until 2011, was vandalized that year and quietly removed from the garden without any press attention. The four-foot statue of a young girl atop a sea horse, created by artist Melvin Earl Cummings in 1926, was on prominent display at the museum for nearly 90 years before unidentified vandals pried off one of its arms and disappeared with it. And now, thanks to some Good Samaritans and the good will of the insurers, the arm has been restored and "Neptune's Daughter" will be rededicated next month.

As the Wall Street Journal reports, the museum had insured the sculpture with Lloyd's of London, who paid the museum just under six figures for it after a search of Golden Gate Park three years ago turned up no trace of the missing bronze arm.

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