Beazley prides itself on its knowledge and experience in writing this complex class of business, and the ability to adapt products to the territories in which we trade.
Our team underwrite all aspects of the jewellery trade, including wholesale, retail and manufacturing, along with associated trades such as pawnbrokers, art dealers and galleries. From small and medium enterprises to large multinationals with global branches, geographically we can consider business on a worldwide basis and already insure a substantial proportion of the jewellery trade in the UK, as well as significant portfolios in the US, Europe, South America, Asia and Australia.
Our market leading position is built on a thorough understanding of the jewellers block class and strong long-term relationships with our brokers and specialist producers.
- The team underwrites a global account, utilising specialist surveyors, security consultants and trade associations unique to each country, providing expert risk management advice to the policyholders
- Adoption of the latest technologies where possible to enhance security and reduce the likelihood of theft, such as smoke generating systems, 'smart water', improvements in security glazing, locks, alarm sensors and multi path signalling
- Support given to our producers through fast quote responses (same day or 24 hour submission responses)
- Flexible cover with terms specifically tailored and appropriate to the territory
- High quality claims handling through an experienced claims team and dedicated global adjuster network
What we look for in producing brokers
We look for partnerships with specialist producing brokers who have a full understanding of this class of insurance, knowledge of their local market, and a direct relationship with their clients, as well as a long term commitment to work together with us to build a profitable portfolio of jewellers block business.
The core commercial products cover risks of direct physical loss or damage to trade stock of the customer's business, including while in transit away from the premises if required. Depending on the territory, coverage may be extended to include general business contents, glass, buildings, exhibitions/shows and loss of profits on a fire and perils basis.
Specialist areas underwritten by the team include:
- Jewellers block - retailers, wholesalers, manufacturers and pawnbrokers
- Art and antique dealers
- Fine art - both private collections and commercial
- Private jewellery and collections
- Coin and stamp dealers - both private collections and commercial
- Gun dealers
- General specie excluding cash in transit
Up to $10,000,000. Further increases are available as special acceptance - excluding third party liability and employers liability.
We can consider business on a worldwide basis, subject to Lloyd's and local regulations and licences. Where appropriate we can work with local insurers to underwrite the business on a reinsurance basis, allowing local policies to be issued to the client.
Jewellers block team
Jewellers block forms
Wordings: These have been developed over many years and are agreed between Beazley and the coverholder on a bespoke basis appropriate to the account profile and country of origin. Proposal form: A signed and dated proposal form is the basis of any insurance issued, the format of which will be agreed between Beazley and the coverholder. All other proposal forms will be made available on request.