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DAE ASSOCIATES, LLC v. AXA ART INSURANCE CORPORATION

652409/15. 5683A. 5683.

158 A.D.3d 493 (2018)

70 N.Y.S.3d 500

2018 NY Slip Op 01026

DAE ASSOCIATES, LLC, Doing Business as DANESE GALLERY, Appellant, v. AXA ART INSURANCE CORPORATION et al., Respondents.

Appellate Division of the Supreme Court of New York, First Department.

Decided February 13, 2018.

The all-risk policy at issue, which covered insured property for "all loss or damage to insured property," did not apply to plaintiff art gallery's contractual liability to purchasers of stolen artwork that was returned to its rightful owner (see HRG Dev. Corp. v Graphic Arts Mut. Ins. Co., 26 Mass.App.Ct. 374, 374, 527 N.E.2d 1179, 1179 [1988...

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