The Treasury is poised to provide indemnity coverage estimated at £800 million for the Bayeux Tapestry while the historic artifact is on loan to the British Museum next year. The 70-meter-long embroidery, which depicts the Battle of Hastings in 1066, will travel from France to London as part of an agreement between the French and British governments.
The Government Indemnity Scheme (GIS) will cover the tapestry's transit, storage, and display, protecting against potential loss or damage. A Treasury spokesperson stated that the GIS is essential, noting that without it, "public museums and galleries would face a substantial commercial insurance premium, which would be significantly less cost effective."
The Bayeux Tapestry's loan to the UK marks its return after approximately 900 years. However, the decision to move the nearly 1,000-year-old artwork has faced scrutiny. Some French art experts have voiced concerns about the tapestry's delicate condition and its suitability for transport, though French officials have disputed these claims.
The Treasury has provisionally approved an initial valuation for covering the Bayeux Tapestry. Formal confirmation of the loan is contingent upon the final valuation being received.
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