Word: gardner
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Museum officials said the cost of such insurance would exceed the museum's $2.8 million operating budget. Also, Mrs. Gardner's will bars the museum from buying or installing replacements for stolen works even if they were insured, they said...
...insurers said, however, that theft insurance was affordable even for small museums, and disputed the Gardner's claim that it would cost millions each year...
...That's a pretty normal figure," Block said. "I don't know where the Gardner people got the idea it would cost millions...
Museum spokesman Barry Wanger said Gardner officials reviewed the museum's insurance policies about two years ago. He said they had received widely varying cost estimates and concluded that protection against theft was too expensive...
...outlook for the recovery of the Gardner pieces is better than average because they are so well-known, but the outlook is still not bright, investigators said...