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Bayeux tapestry to be insured for £800m for British Museum exhibition
The 70-metre-long cloth about the Norman invasion has not been seen in England since it was created in 11th centuryThe Bayeux tapestry will be insured for an estimated £800m when it returns to the UK in 2026 for the first time in more than 900 years.
The Treasury will insure the 70-metre embroidered cloth, which depicts the 1066 Norman invasion and Battle of Hastings, for damage or loss during its transfer from France and while it is on display at the British Museum from September.
It will back the cover under the Government Indemnity Scheme, an alternative to commercial insurance that allows art and cultural objects to be shown in the UK.
The Financial Times reported the Treasury had provisionally approved an estimated valuation for the tapestry with the final valuation expected to be about £800m.An HM Treasury spokesperson said: “The Government Indemnity Scheme is a longstanding scheme that allows museums and galleries to borrow high value works for major exhibitions, increasing visitor numbers and providing public benefits.
“Without this cover, public museums and galleries would face a substantial commercial insurance premium, which would be significantly less cost effective.” Continue reading...
The Treasury will insure the 70-metre embroidered cloth, which depicts the 1066 Norman invasion and Battle of Hastings, for damage or loss during its transfer from France and while it is on display at the British Museum from September.
It will back the cover under the Government Indemnity Scheme, an alternative to commercial insurance that allows art and cultural objects to be shown in the UK.
The Financial Times reported the Treasury had provisionally approved an estimated valuation for the tapestry with the final valuation expected to be about £800m.An HM Treasury spokesperson said: “The Government Indemnity Scheme is a longstanding scheme that allows museums and galleries to borrow high value works for major exhibitions, increasing visitor numbers and providing public benefits.
“Without this cover, public museums and galleries would face a substantial commercial insurance premium, which would be significantly less cost effective.” Continue reading...
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