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AXA Insurance Estimates Chelsea's Art Loss from Sandy at $40 Million

from Gallerist NY

Immediately following Hurricane Sandy, the art insurer AXA was hesitant to put a value on the damage to art for its three hundred clients in Chelsea and lower Manhattan. Now, in a press release, the president and CEO Christiane Fischer has said "our estimated losses in Chelsea stand at $40 million." This figure follows the organization's checking in with all its clients and evaluating the conservation work that could be done on the pieces that water had touched. more

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