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

Abstract The economic cultural heritages are exposed to several natural and nowadays biological hazards, which, in addition to causing potential structural damage, can lead to severe loss deriving from financial non-incomes. The paper aims to highlight the role of insurance in mitigating financial damages and losses, specifically explaining the key role of insurance in mitigating biological hazards like Covid-19. The paper is part of broader research by the authors and uses the assumptions and results already obtained previously in the context of the case study relating to the asset of Villa Adriana and Villa D'Este