Will Notre-Dame’s multi-million euro restoration be covered by insurance?

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Who owns Notre-Dame and is it insured?

The French state owns the building and is its own insurer, and thus bears the entire risk.

"It doesn't use an insurance company … which is the case with a certain number of chateaux, it is a choice," said Dominique de la Fouchardiere, head of the SLA Verspieren firm, a specialist in insuring historical monuments and chateaux.

Although the state owns the building, it is theoretically the archdioceses of Paris who is responsible for insuring the interior.

Contacted by AFP, the archdioceses of Paris did not immediately respond about the insurance coverage of the artworks and objects in the interior of the cathedral.

How will the insurance be brought into play?

Most likely with the determination of the origin of the fire and if one of the firms working on the cathedral is determined to have been responsible.

"There is a major risk that in this case it will go to court given the importance of what is at stake and the determination of responsibility is complex," said Nicolas Kaddeche at Hiscox, a specialist insurer for artworks.

With a number of different firms working on construction and renovation projects, he said it can be difficult proving who is ultimately responsible.

What kind of payout is likely?

If responsibility for the outbreak of the fire is not assigned to one of the firms working on renovating the cathedral, then the French state will be on the hook.

Thus the €700 million in private donations already pledged will be important.

However, if one of the firms working on the cathedral is determined to have been responsible, the insurance company is liable up to the amount of the policy taken out.

How are the value of the building and artworks determined?

SLA Verspieren's de la FouchardierRead More – Source

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