Is the Smithsonian, the Hermitage and or the Louvre insured by their country or by a public/private ins. co.?

Question

Was with friends and the recent theft at the Hermitage came up and they thought that it was insured (privately) and I assume that it is self insured by (in this case) Russia. I further assume that the Smithsonian is self insured by our government. (Even tho we can further discuss that most things in all of these museums is not replacable. Does anyone know?

Answer 1

The values are too high and too concentrated to get private insurance on the complete collections. Some loans, and transfers to other museums may have private insurance.

Answer 2

When you're dealing with major works of art, they are generally insured by several different ways. It depends on what the object is and it's potential worth.