Insurers expect France to bear rebuilding costs for Notre-Dame cathedral
The cost of a multiyear restoration project could itself take a year to become clear, industry experts say
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. The cost of a likely multiyear restoration project could itself take a year to become clear, industry experts said. “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 clients at Lloyd’s of London insurer Hiscox, told Reuters, adding it could take up to 20 years to restore the cathedral. “The scaffolding costs are going to be enormous, actually securing the building is going to be enormous. The cost of renovating the [British] parliament is a similar sort of number,” Read said. The cost of repairs and upgrades to the neo-Gothic fronted parliament building on the banks of the River Thames has been estimated at up to $8bn. French President Emmanuel Macron has said France would launch a fundraising campaign to rebuild No...
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