Assessment of Insurance Cost of Religious historical and Cultural Monuments

• Main Authors: Rimma Rygzynovna Afanasieva, Alexander Nickolaevich Tsatsulin
• Format: Article
• Language: English
• Published: North-West institute of management of the Russian Presidential Academy of National Economy and Public Administration 2018-04-01
• Series: Управленческое консультирование
• Subjects: saint isaac’s cathedral; architectural masterpiece; historical and cultural monument; the list of unesco world cultural and natural heritage; property values; property rights; cost types; real estate valuation; bundle of rights; approaches to business valuation; protected status; insurance cost
• Online Access: https://www.acjournal.ru/jour/article/view/461
• ISSN: 1726-1139; 1816-8590

The article discusses the problems associated with the protection and evaluation of the St. Petersburg-monuments of architecture buildings, which are under state protection, with appropriate protection status - «a monument of history and culture». We also consider the technical issues be included in the market value of the property factor «historical reputation» with three classical approaches to evaluation - cost, income and comparative. Of particular interest is the formation of a project cost of insurance for the purpose of St. Isaac’s Cathedral, included in the list of UNESCO World Heritage sites. In the absence of a proper valuation of methodical maintenance of monuments article authors try to construct an algorithm and a procedure for determining the insurance value of St. Isaac’s Cathedral.