OREANDA-NEWS. November 18, 2009. Ingosstrakh IJSC won the open tender for the right to sign a state contract for insurance of the exhibits in the exhibition called “Great Prince of Tavrida G.A. Potemkin. Age and Personality” in Tsaritsyno. Three other Russian insurance companies took part in the tender.

The exhibition will be held in Moscow, in the Tsaritsyno museum preserve from December 16, 2009 till May 23, 2010. There will be about 400 objects of art of Peter the Great’s times from 14 museums of Moscow and St. Petersburg. 

The exhibits were insured by Ingosstrakh “from nail to nail” which means that insurance protection covers the whole period of the exhibition, including transportation and exhibiting of the cultural values. The insurance coverage includes risks of damage, total loss or loss of exhibits for any reason. 

According to Andrey Erofeev, head of Cargo Insurance Department of Ingosstrakh IJSC, today museums that participate in travelling exhibitions prefer to have good insurance coverage, because the expert estimates show that every year there get stolen pieces of art to the amount of USD 2 to 6 billion and normally not more than 10 percent of what was stolen can be recovered. Priceless exhibits may also be harmed when transported. Ingosstrakh covered several such cases. In Russia the largest payment made by Ingosstrakh as compensation to transportation damage totaled USD 1.2 million. The Pushkin Museum of Fine Arts received compensation for Rembrandt’s “Portrait of an old woman” damaged when being delivered to an exhibition in Houston.