It’s been a sad week in architectural history because the 856-year-old Notre-Dame de Paris caught fire while undergoing restoration work, and the historic building is suffering from significant damages. If you’re wondering which company insures the cathedral, you may be surprised to find out that technically it isn’t covered.
According to Financial Times, most rebuilding costs are likely to fall on the French state, the owner, which essentially acts as the insurer. However, two contracting firms involved in the rebuilding efforts are both insured by Paris-headquartered AXA.
AXA said in a statement: “The cause of the fire is currently under investigation. All Axa teams are fully cooperating with the state services to aid in the process. We must now be patient and let do their specialists work.” AXA also said its art division “is involved in the insurance of certain artefacts and ceremonial objects in the Notre-Dame.”
On top of the possible payouts that AXA may face from whatever claims that arise, the insurance group pledged to donate a multi-million dollar figure towards the rebuilding. They also mentioned working with employees, customers, partners, and French heritage stakeholders to exercise better prevention and risk management efforts. Additional rebuilding funds have already been donated by the out-pour of support from French families and people all over the globe.