Casino Owner Plays Picasso Poker, Sues Lloyd's

When Lloyd's of London ensured a Picasso painting owned by Steve Wynn, they likely didn't expect to get a claim request for the painting with the reason "Poked Elbow Through Painting". That was what happened, as the owner of the Wynn Las Vegas accidentally poked a hole with his elbow through the Picasso, and experienced an immediate drop in value of $54 million dollars. The painting become damaged soon after Wynn had decided to sell it for $139 million. Lloyd's of London - famous for insuring old and very rare items - is refusing to pay the claim, so Wynn, whose luxury hotel and casino is worth $2.7 billion, is suing.