Chubb has returned a stolen Norman Rockwell painting to the family of its original owners more than 40 years after its theft.

Rockwell’s “Boy Asleep with Hoe”—also known as “Lazy Bones” or “Taking a Break”—was stolen from the Grant family’s Cherry Hill, N.J., home in 1976. The family submitted a claim to Chubb, and the insurer acquired the painting’s title upon payment.

Photo: FBI

“The theft of ‘Boy Asleep with Hoe’ remained one of the art world’s greatest mysteries for over four decades. In partnership with the FBI, we’re pleased to return it to the Grant family,” said Fran O’Brien, SVP, Chubb Group, division president, North America Personal Risk Services.

The value of the recovered painting is estimated to be between $600,000 to $1,000,000—significantly more than its value at the time of the theft.

“Recovered art is often valued at a greater amount than a similar piece, given its unique provenance. While many often assume a piece is out of harm’s way upon recovery, its newfound high-profile status and value can invite new exposures,” O’Brien said, noting that existing insurance coverage may no longer be sufficient.

The Grant family returned the claim payment to Chubb in exchange for the painting. Chubb said it will donate the funds to the Norman Rockwell Museum in Stockbridge, Mass.

Source: Chubb

Topics Fraud Chubb