This particular case involved fame, celebrity, and high-pricedlawyers. Throughout every step of the way, the claims adjusterand the contents specialist worked closely together to ensure afair settlement.

The case involved a world-famous musical group. The wife of oneof the band members claimed that a highly valuable ring – a giftfrom her husband – had been lost or stolen from a hotel room wherethey were staying while on vacation.

The ring was a hand-designed piece with a 6.00 carat plus fancyyellow diamond set in the center. The original estimate to replacethe ring given by the Beverly Hills jeweler where the ring waspurchased was for $145,000.

The Background

The first step in this case was to obtain a copy of the originallaboratory diamond grading report and carefully compare it to theprovided estimate. The contents claims expert on the job hadpreviously worked for a very high end jeweler, specializing ingrading yellow diamonds specifically. Consequently, he was able toprovide a technical edge and determined that the insured's originalstone was of poor quality for reasons the jeweler hadoverlooked.

Click on “Next” at the bottom right to find outwhat happened.

The expert determined that the ring could be replaced for$111,000 based on similar stones available in the market at thattime, but the jeweler did not agree. As luck would have it, thiswas around the time of the largest jewelry show in the world, whichtakes place annually in Las Vegas, Nevada.

The End Result

The contents specialist went to the show and priced yellowdiamonds. It was then decided that based on these new stones in themarket, the ring could be replaced for $107,000. The jeweler wasnot happy with this lower estimate. However,he eventually conceded at the urging of the insured andrevised his $145,000 estimate to $107,000.

A fair and accurate settlement for this case was reached due tothe diligence and persistence of the contents claims specialist andclaims adjuster. Without domain expertise in fine jewelry and thedrive to go the extra mile to find like, kind and qualityreplacement stones, this case may not have worked out as smoothlyfor the insured or the insurance carrier.