Warhol Group Sues Insurer For $6.6M In Legal Costs

Law360, New York (April 6, 2011, 9:23 PM EDT) -- The Andy Warhol Foundation for the Visual Arts sued its insurer Wednesday, seeking coverage of $6.6 million in legal expenses stemming from accusations that the foundation conspired to inflate the price of Warhol's works.

The foundation launched a suit against Philadelphia Indemnity Insurance Co. in the Supreme Court of the State of New York, County of New York, claiming that the insurer wrongfully denied coverage in suits leveled against the foundation by art collectors Joe Simon-Whelan and Susan Shaer.

Simon-Whelan and Shaer agreed to drop their...
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