Major European insurers expect France to bear the bulk of the cost of rebuilding...
- Major European insurers expect France to bear the bulk of the cost of rebuilding the Notre-Dame Cathedral after a fire tore through the eight-centuries-old Paris landmark on Monday.
“It is really going to be up to the French state and benefactors to help to restore and rebuild this,” Robert Read, head of art and private client at Lloyd’s of London insurer Hiscox told Reuters, adding it could take up to 20 years to restore the cathedral. French President Emmanuel Macron has said France would launch a fundraising campaign to rebuild Notre-Dame, which ranks among the finest examples of French Gothic cathedral architecture.
Reinsurer Swiss Re said works of art in buildings such as the cathedral are generally not insured because they are often priceless. Any art works on loan from third parties would, however, be insured, Read added.
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