I wonder who owner her, what is her value, and was she insured?
I don't know that things like that are, or should be, insurable. Generally, insuring something requires being either being able to quantify the replacement cost of an item, or else what it would sell for on the open market. The concept of "replacement cost" is meaningless for the Cutty Sark, and I don't know of any market for such boats.
I don't really see any good way to set the valuation for insuring something like the Cutty Sark. It would seem that either the valuation would be too small to be meaningful, or else it would be so great as to encourage fraudulent destruction. Can insurance companies somehow avoid these problems?