Treasury to cover Bayeux Tapestry for estimated £800m
While the Bayeux Tapestry is on loan to the British Museum next year, it is expected to insure it against damage worth an estimated £800 million. The 70 million-long embroidery depicting the Battle of Hastings in 1066 will travel from France to London as part of a deal between the two countries' governments. The artefact's transit and its time in storage and on display will be covered under the Government Indemnity Scheme (GIS). Indemnity insurance can be used to cover situations such as theft or harm.
if the long-running program, according to a Treasury spokesperson.Public museums and galleries will face a significant commercial insurance premium, which will be significantly less cost-effective
Some French art specialists have expressed reservations about the move, saying that the nearly 1,000-year-old work was in a far too fragile state to be transported - something French officials have denied. According to reports, the Treasury has received an initial estimate for covering the Bayeux Tapestry, which has been provisionally accepted. The loan will not be officially disclosed until it is received the final appraisal. According to the Financial Times, the final estimate is expected to be around £800 million, quoting unidentified officials. When approached by the BBC, the Treasury did not object this figure. The Bayeux Tapestry will be on view in the Sainsbury Exhibitions Gallery of the British Museum from next September to July 2027, although the Bayeux Museum, the Museum's new home, is undergoing renovations. The massive masterpiece, which includes 58 scenes, 626 characters, and 202 horses, depicts a turbulent period in Anglo-French relations, beginning with William The Conqueror, who took the English throne from Harold Godwinson, making him the first Norman The government's indemnity scheme encourages art and cultural objects to be seen in the United Kingdom, which "may not have been otherwise because the cost of insurance would have been too high. The scheme, which was first introduced in 1980, has provided numerous high-value loans, including Vincent van Gogh's 1888 work The Bedroom to the National Gallery. When compared to the cost of buying commercial insurance, the scheme is expected to save museums and galleries around £81 million per year. The British Museum in exchange for the Bayeux Tapestry will loan items to France, including the 7th Century Anglo-Saxon artefacts discovered at the Sutton Hoo burial site in Suffolk and the 12th Century Lewis chess pieces.
