The Treasury is set to provide indemnity, estimated at £800 million, to cover the Bayeux Tapestry against potential damage during its loan to the British Museum next year. The 70-meter-long embroidery, depicting 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 artifact's transit, storage, and display. Indemnity insurance protects against 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, nearly 1,000 years old, is a significant historical artifact. Its loan to the UK marks a rare occasion for the public to view the tapestry outside of France. The tapestry's intricate details provide valuable insights into medieval life and warfare.
Concerns have been raised by some French art experts regarding the tapestry's delicate condition and the potential risks associated with transporting it. These experts suggest the tapestry may be too fragile for such a move. However, French officials have denied these concerns, asserting that the tapestry can be safely transported with proper precautions.
The Treasury has received an initial valuation for covering the Bayeux Tapestry and has provisionally approved it. Formal confirmation of the loan is contingent upon the final valuation.
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