The Art in Embassies program of the U.S. State Department just turned 50 last year, but its growth in the last decade has been particularly dramatic if the insured value of the artwork is any indication. Although Art in Embassies purchases original works, such as the $1 million sculpture for the new U.S. Embassy in London, much of the artwork on display at various State Department installations throughout the world is in fact borrowed. In 2002, the State Department maintained a $20 million policy for artwork. By 2010, it had grown to $65 million. This year, the agency is looking to renew its current level of coverage, informing interested providers that “[i]nsurance must cover all items in any location in a Department of State facility abroad up to a value of $200,000,000.” Last year, the $200 million policy cost the government $86,932.
