Hollander v. XL America Group CA2/1
1. The Hollanders Insured Their Art Collection with XL Specialty
Gail and Stanley Hollander (collectively, the Hollanders), a married couple, acquired an art collection over a period of time. (See Hollander v. XL Capital Ltd. (May 1, 2018, B276621) [nonpub. opn.] (Hollander VII) [indicating Gail and Stanley were married].) In exchange for a premium of $24,966, XL Specialty Insurance Company (XL Specialty) issued the Hollanders an insurance policy, effective from March 2, 2005 to March 2, 2006, that covered their fine art. In the event the fine art were destroyed, the Hollanders would be entitled to collect the “scheduled value” of the property—i.e., the amount assigned to the artwork in a schedule to the policy.
Paragraph 8 of the policy provides a different method of valuation in the case of a “partial loss” to the fine art. That portion of the policy provides in full:
“PARTIAL LOSS AGREEMENT[ ](As Respects Fine Arts Only)
Comments on Hollander v. XL America Group CA2/1