Rebuilding Notre Dame, the 800-year-old Paris cathedral devastated by fire this week, will cost billions of dollars as architects, historians and artisans work to preserve the medieval landmark.
Notre Dame and all of its pre-1905 artworks are the property of the French state and not insured. The French government is responsible for costs like restoration and rebuilding because it has the financial resources to do so -- and because taking out private insurance on something as valuable as a national monument would be difficult and expensive.
High-net-worth individuals, corporations, and other entities with substantial assets -- like France or any other nation-state -- often choose to self-insure instead. Rebuilding a centuries-old landmark is difficult and expensive because the goal is to preserve the original character of the building, not just replace it.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Built by thousands, beloved by millions: Rebuilding Notre-Dame is an undertaking worthy of its historyNotre-Dame – one of the grandest works of European architecture and a beloved Paris landmark – smoulders. After surviving the Franco-Prussian War and the bullets of the Second World War, the cathedral has been scarred and scorched. But it survives
Read more »
Insurers expect France to bear Notre-Dame rebuilding costThe cost of a likely multi-year restoration project could itself take a year to become clear
Read more »
As donations pour in, rebuilding Notre-Dame gets politicalEven as prayers, hymns for the cathedral continue to ring out across Paris, an unease is building over the future of the church and the role wealthy families and big corporations are playing in its destiny
Read more »
Experts Say Macron’s Plan To Rebuild Notre Dame Is Way Too AmbitiousOne expert said rebuilding the Notre Dame Cathedral could take 15 years
Read more »
France mourns after Notre-Dame blaze but over $1-billion in donations raise hopeFrench President Emmanuel Macron promised to restore the fire-damaged cathedral to its glory within five years, although most experts expect it will take twice as long
Read more »
Worshippers and magnates raise nearly $1 billion to rebuild Paris’ Notre Dame after fireSome are skeptical of the French president’s promise to rebuild the cathedral in five years, saying it’s not enough time considering the Olympics come to Paris in 2024
Read more »
Devastating blaze ravages Paris’ iconic Notre Dame Cathedral, collapsing spireThe fire engulfed one of the greatest architectural treasures of the Western world as tourists and Parisians looked on aghast from the streets below
Read more »