Jewelry claims are complex and need special attention by jewelry and diamond experts. Insureds are faced with a jewelry and diamond pricing system that changes daily. The terminology used to define quality of gems and diamonds can be confusing for both insurers and the policyholder.

Consider this:

  • There are more than 70,000 jewelry businesses in the US, all with different levels of experience, training, and service.

  • U.S. customers spent more than $50 billion on jewelry and watch purchases in 2016.

  • According to insurance industry data, $1.5 billion in jewelry is lost or stolen annually.

Jewelry insurers and policyholders can benefit greatly from the use of expert, knowledgeable replacement services: the insured receives a replica of that cherished piece, and insurance carriers often save a great deal by replacing, identifying or deterring fraudulent claims, and benefit from the cycle of collecting premiums from the policyholder who usually reinsures the replacement piece with the same carrier.

Claimlink© Jewelry Replacement

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.