The theft of approximately $102 million worth of historic artifacts from the Louvre Museum in Paris provided a stunning example of the risks that major cultural institutions can face and the often limited insurance options available to cover financial losses.
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Museums also tend to have coverage for art that is in transit or on loan, said Seth Lamden, an insurance recovery partner at Blank Rome. He noted that such coverages are often "wall-to-wall" and paid for by the loaner in recognition of the increased hazards when moving objects out of permanent collections.
"That's a much riskier environment, and it's a much easier situation to insure: We're talking about a discrete piece or collection for a short duration of time. So while it may be expensive, it's not going to have the same pricing considerations of having a collection insured indefinitely in what should be a relatively safe and secure environment," Lamden noted.
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"Louvre Heist Exposes Coverage Gaps for Art Collections," by Abraham Gross was published in Law360 Insurance Authority on October 23, 2025.
