Meanings of cherished institution in English

I am told that another cherished institution of Ireland is passing away-

Election oratory is an old and cherished institution.

They had come to witness the abasement of the great enemy of their most cherished institution.

If they smell a rat about the precincts of a cherished institution, they will always stop their noses to it if they can.

Consequently, The Feminist Press-itselfa cherished institution of the global women's movement-rebirthedthis edition, which is in all respects identical to the original edition.