Jewellers Block

Jewellers Block Insurance

1. This is for the benefit of:-
• Individuals, Companies or shops engaged in the business of gold, jewellery, other precious metals and stones. (retail, wholesale, manufacture)
2. Interests which can be insured
• Stock in trade consisting of jewellery, gold, platinum goods, bullion, precious stones, pearls, watches, clocks, silverware and other similar goods, and crystal etc.
• Furniture, Fixtures, Fittings, Plant & Machinery, Office Equipment, Alarm Systems, etc.
• Bank Notes (within a certain limit)
3. Scope of Cover
   
All Risks basis (other than specified Exclusions) up to Full Policy/ Stock limit
• Burglary, housebreaking, Hold-Up or Robbery
• Fire & Allied Perils
• Sleight of Hand/ Mysterious disappearance.
4. Cover is available for stocks (within certain Limits) whilst
• At the identified business locations within UAE and outside UAE.
• Carryings by Employees within UAE or elsewhere.
• During Transits.
• At private residence of employees in a locked safe.
• At third party locations for repair or valuation purposes (Entrustments/ memo).
• At Exhibitions.
• At Photo shoots.
• At Hotel Showcases.
• At Fashion shows.
• Sendings by registered mail, airfreight and courier.
5. Basis of Valuation (Claim Settlement)
• At cost price for property belonging to the Insured.
• At Entrustments price not exceeding the cost price for property entrusted to the Insured.
• At selling price for goods already sold but not yet delivered.
6. Limitations (subject to underwriting criteria)
• Value out of safe outside business hours (not during lunch time)
• Window Smash Limit
• Private Dwelling house
• Bank Notes
7. Proposal Form
• All questions should be clearly answered and the form signed and dated by the Proposer.
8. Advantages
• Facility to arrange automatic increase of Stock Sum Insured during a specified period such as peak seasons.
• No deductible for Furniture, fixtures and fittings and sending losses.
• 10% No Claim bonus awarded on renewal.
• Sleight of Hand/ Mysterious disappearance covered upto full stock limit.
• No restrictions on out of safe limit during lunch hours.
• Cover is available whilst not only at the business premises but also outside the premises as detailed under point 3 above, subject to terms, conditions and limitations of the policy.
• Ability to buy back exclusions like Employee infidelity, Stock-wearing limit for Staff.
• Ability to extend existing cover to another temporary location for a specific period subject to Underwriting criteria.

Anglo-Belge & Greenshield

Greenshield Insurance Brokers, a leading boutique insurance broker based in Dubai has formed a joint initiative with Anglo-Belge Special Risks and SBJ Limited, to bring a specialized Jewellers' Block facility to the UAE.

Anglo-Belge is a prominent insurance broker focused on the jewellers and diamond wholesalers and has been established for over 45 years in Antwerp & Geneva. SBJ is a top ten Lloyd's of London broker, connected with various Lloyd's syndicates. Greenshield Group has been in the insurance and banking business for over six decades, and provides the local servicing and support.

A dedicated specialty team based at Greenshield in Dubai handles the insurance needs of the growing jewellers market and provides diamantaires with the security and flexibility that was previously only available in established overseas centres such as London, Antwerp and New York. The S&P rating of the facility brought by the new joint initiative is 'AA' and the policies are 'tailor made' to suit the needs of even the most demanding clients.

• All-Risks Cover at no extra charge vs. Named Peril Cover
• Full Policy Limit coverage for Mysterious Disappearance, Sleight of Hand, Shoplifting, etc.
• Availability of High Limits for Sendings/ Carryings/ Entrustments on a world-wide basis
• Specifically Tailor Made Exhibition Covers
• Possibility to Buy-Back most of the Exclusions
• High No Claims Bonuses
• We have managed to explain the dynamics of the Dubai market to the AA Rated Underwriters, who have agreed to Reduced Premium Rates, despite Extensive Additional Cover