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The owners of art dramatically seized by the FBI from ... now face a legal battle to collect their nearly $20 million insurance claim. The Liberty Mutual and Great American insurance companies ...
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ART SG Opens, Insurance Firms Refuse $19.7 Million Fake Basquiats Claim, Lux Bathhouse Found in Pompeii: Morning Links for January 17, 2025The Headlines ART SG'S BEST BOOTHS… AND WHAT ABOUT ... sticking to their guns, filed a claim with insurance companies Liberty Mutual Insurance Company and Great American Insurance Company ...
The Liberty Mutual Insurance Company and Great American Insurance ... Basquiat works are not entitled to a $19.7m payout for the art, which the FBI seized from the Orlando Museum of Art (OMA ...
Insurance companies would rather not pay out on claims, some employ several legal but underhanded tricks to avoid paying out ...
“Art insurance used to be one of the most profitable lines of business, so insurers could afford to be very generous when a claim occurs. Today, it’s not such an attractive line,” he says.
Such people would have to analyze claims and the insurance policies and “review the accuracy of any output generated” by an artificial intelligence system, machine learning system or algorithm.
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