Museum Security Network

A Chicago man is suing his insurance company AXA for allegedly failing to compensate him for the loss of two violin bows valued at $290,000.

Zoran Stoyanovich says that he was the owner of two violin bows – one by Nicolaus Kittel valued at $155,000 and one by Francois Xavier Tourte valued at $135,000 – that were insured under a policy with AXA Art Insurance Corporation.  According to the complaint, the following occurred:

- In June 2007, Stoyanovich entered into an agreement with an agent from Bromptons Auctioneers to find a buyer for the bows.
- Bromptons transferred custody of the bows to a third party, who purported to have located a purchaser.
- The bows were transferred to the purchaser, who refuses to pay for or return them.
- In November 2009, Stoyanovich gave timely notice of the loss to AXA but AXA denied the claim.