Perelman Loses Bid for $400 Million for Less ‘Vibrant’ Art (2)

A New York judge ruled Ron Perelman was not entitled to $400 million from insurers over alleged damage to an Andy Warhol and four other paintings from a 2018 fire at his Hamptons home.

Justice Joel M. Cohen’s Friday decision dismissing all of Perelman’s claims against affiliates of Lloyd’s of London Ltd., Chubb Ltd., and American International Group Inc. ends a five-year legal battle that pulled back the curtain on the typically opaque world of art insurance.

The insurers challenged Perelman’s claims of damage and suggested the 82-year-old former Revlon Inc. chairman was attempting a “money grab” ...