Non-Incomes Risk Mitigation Mechanisms for Cultural Heritage: Role of Insurances Facing Covid-19 in the Italian Context

Pagano, Andrea; Romagnoli, Francesco; Vannucci, Emanuele

doi:10.2478/rtuect-2022-0066

Cited by 2 publications

(6 citation statements)

References 21 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The management of a heritage site involves high baseline costs [84]. The visitor income loss in heritage organisations impacted employment and organisational viability [24].…”

Section: Impact On Tourism and Visitor Economymentioning

confidence: 99%

“…Existing financing schemes are not suitable for heritage organisations [38,50]. Instead, considering the precarious cash flow situation in heritage organisations, insurance cover against business disruption and income loss should be extensively utilised [84]. Additionally, tax reform was suggested by the Heritage Alliance as one of the government intervention measures [50].…”

Section: Impact On Tourism and Visitor Economymentioning

confidence: 99%

See 1 more Smart Citation

Assessing the Long-COVID Impact on Heritage Organisations

Volanakis,

Seymour,

Fouseki

2024

Heritage

View full text Add to dashboard Cite

The aim of this paper is to understand the long-COVID impact on cultural heritage organisations, and future research needed. COVID-19 was disruptive to cultural heritage socioeconomic activities across the world during 2020 and 2021. Whilst government intervention and changes from physical to digital engagement generally prevailed, the long-COVID impact on cultural heritage organisations, their people and users, buildings, and collections remains unknown. The extent, also, to which financing, curating, visiting, and volunteering patterns have changed is uncertain. Following the pandemic closures and associated support, cultural heritage organisations are facing continuing economic, social, political, environmental, technological, and organisational culture pressures. This research examines the existing academic literature, sector publications, annual reports and associated visitor information to understand whether cultural heritage organisations have long-COVID, whether they can survive another pandemic, and what further research is needed to be better prepared. Four case studies from the UK look at the visitor and financial impacts of COVID-19 on the British Library, the London Transport Museum, The Theatre Royal Drury Lane, and Kensington Palace. This paper contributes to heritage research by providing a deeper understanding of the impact that COVID-19 had on heritage, and how to proactively plan for similar future disruptions. The impact themes show that change did not result in a new normal but in the need for a new space, consisting of blended space (physical and digital), mixed space (indoors and outdoors), and community of practice space (isolated or cross-sector networking space). The literature highlights the significance of the sector coming together during the pandemic to share knowledge and provide support through its networks. It also highlights how important it is for such unity not to be lost but to be harnessed to support ongoing organisational sustainability and better preparedness for future crises. Finally, future research suggestions are proposed grouped into social, digital, financial, and operational research themes.

show abstract

“…The management of a heritage site involves high baseline costs [84]. The visitor income loss in heritage organisations impacted employment and organisational viability [24].…”

Section: Impact On Tourism and Visitor Economymentioning

confidence: 99%

Section: Impact On Tourism and Visitor Economymentioning

confidence: 99%

Assessing the Long-COVID Impact on Heritage Organisations

Volanakis,

Seymour,

Fouseki

2024

Heritage

View full text Add to dashboard Cite

show abstract

“…For calculating on-year loss events, as showed in Eq. ( 1) the denominator is the premium received during the calendar year, with the numerator being insurance payouts for insured events that happened during the calendar year, plus insurance reserves for losses sustained during the calendar year [11].…”

Section: Static Methods In An Insurance Company Portfolio Analysismentioning

confidence: 99%

“…For the passive strategy (indicated with the subscript P in the following symbols), the random present value of the total payment by the public administration, fixed a generic time horizon of m years, CP(0, m), as reported in Eq. (11),…”

Section: Flood Risk Insurance Strategies For Public Administrationmentioning

confidence: 99%

See 1 more Smart Citation

The Mitigation of Socio-natural Hazards through Smart Insurance Contracts

Jonathan Pagano

View full text Add to dashboard Cite

This Doctoral Thesis delves into insurance’s multifaceted and multidisciplinary role in protecting individuals, communities, and societies against the financial burdens of socio-natural disasters. The research seeks to provide a comprehensive understanding of the dynamic mechanisms through which insurance functions as a risk transfer and risk reduction instrument, examining its potential for influencing disaster preparedness, resilience, and urban-societal adaptation. The research investigates the evolving role of disaster insurance, including the challenges and opportunities it presents in the face of an increasingly unpredictable climate.

show abstract

Non-Incomes Risk Mitigation Mechanisms for Cultural Heritage: Role of Insurances Facing Covid-19 in the Italian Context

Cited by 2 publications

References 21 publications

Assessing the Long-COVID Impact on Heritage Organisations

Assessing the Long-COVID Impact on Heritage Organisations

The Mitigation of Socio-natural Hazards through Smart Insurance Contracts

Contact Info

Product

Resources

About