Treasury to Cover Bayeux Tapestry Loan to UK for Estimated £800M

The UK Treasury is set to provide indemnity insurance estimated at £800 million for the Bayeux Tapestry while it is on loan to the British Museum in London next year. The insurance will cover potential damage or loss to the nearly 1,000-year-old artifact during its transit, storage, and display, according to the BBC.

The 70-meter-long embroidery, which depicts the Battle of Hastings in 1066, will travel from France to London as part of a cultural exchange agreement between the two nations' governments. The loan is facilitated under the Government Indemnity Scheme (GIS), which covers situations like loss or damage to artifacts.

The agreement has sparked debate among art experts regarding the risks associated with transporting the delicate tapestry. A Treasury spokesperson stated that without the long-standing scheme, "public museums and galleries would face a substantial commercial insurance premium, which would be significantly less cost effective." The spokesperson emphasized the importance of the GIS in enabling cultural exchanges and protecting valuable artifacts.

The Bayeux Tapestry's arrival in the UK is anticipated to be a major cultural event, drawing significant public interest. The British Museum is preparing for the arrival of the tapestry, with specific details regarding the display and storage arrangements to be announced in the coming months.