A Plan To Help Museums With Insurance

Since the Sept. 11 attacks, U.S. museums have struggled to obtain works for major exhibitions from overseas due to skyrocketing insurance rates and jittery art lenders who fear losing their pieces in a terrorist strike.” Now legislation has been introduced in the US Congress that “would raise the amount of indemnity coverage that can be provided at any particular time from $5 billion to $8 billion. It also increases how much coverage the program – run through the National Endowment for the Arts (NEA) – can provide to one exhibition, from $500 million to $750 million.”