If the stolen historical golden helmet and three bracelets are not recovered, the Dutch government will have to cover the €5.8 million loss. The Drents Museum's insurance will not pay anything, as confirmed by RTV Drenthe and the Ministry of Education, Culture, and Science.
The Dutch government guarantees €9 million, covering 30% of the total insured value of the collection. This means that in cases of theft, loss, or damage, the government is partially responsible for compensation.
Since the stolen artifacts' value (€5.8 million) is below the government’s €9 million coverage, the museum's insurance does not need to contribute.
Because the government assumes part of the risk, museums pay lower insurance premiums. For this exhibition, the Drents Museum saved 25–30% on insurance costs.
Minister Eppo Bruins (NSC) explained that this system makes valuable exhibitions accessible to the public, as otherwise, insurance costs would be too high for museums. Generally, museum insurance discounts range between 30–40%, and in some cases, over 50%.
If the helmet and bracelets are found damaged, the government will also cover repair costs.
This would be the largest amount the Dutch government has ever had to pay for stolen or damaged art. Since 1989, museums have been able to request government guarantees for international exhibitions.
The Dutch government has backed tens of billions of euros worth of art. Until now, only €8,000 has been paid in damages. Last year alone, the government guaranteed nearly €460 million for artwork loans across 13 museums.
Anna Melnykova, "Palace of Labor (palats praci), architector I. Pretro, 1916", shot with analog Canon camera, 35 mm Fuji film in March 2022.
ArtDependence Magazine is an international magazine covering all spheres of contemporary art, as well as modern and classical art.
ArtDependence features the latest art news, highlighting interviews with today’s most influential artists, galleries, curators, collectors, fair directors and individuals at the axis of the arts.
The magazine also covers series of articles and reviews on critical art events, new publications and other foremost happenings in the art world.
If you would like to submit events or editorial content to ArtDependence Magazine, please feel free to reach the magazine via the contact page.
