Merrick, NY—In our fifth installment of “Your 2019 Must-Do List,” we hear from Marisa Green, senior vice pesident, Willis Towers Watson. Her recommendation? ‘Dust Off Your Jewelers Block Policy and Get a Health Check-Up.’ Read on for the full scoop!
One thing you need to do for your business in 2019 in order to start your year off right is to dust off your Jewelers Block Policy and ask Willis of New York to give your policy a “health check-up.”
The diamond and jewelry industry continues to change. The insurance marketplace continues to change. Your Jewelers Block policy may also need to change with these market fluctuations. For example, we feel the Loss Settlement Clause is one of the most important parts of your Jewelers Block Policy. It dictates how the insurance carrier will pay you in the event of a covered loss. It also dictates how much coverage you should purchase.
Marisa Green of Willis Towers Watson.
Does your Jewelers Block policy have a Loss Settlement Clause tailored to your business? Does it take into consideration the age of your merchandise or the different categories of merchandise which you carry? Will the current loss settlement formula put you back in the same position you were in before the loss occurred? If you are not sure, then it’s time for a health check. Please see us (Table 950) at the upcoming Centurion Scottsdale Show.
Missed the first four installments? Read Ellen Fruchtman, Fruchtman Marketing on Prepare Your Marketing Budget For 2019; Invest in Staff Education and Training with Katherine Bodoh, AGS; Clean Out The Clutter with Barry Lustig, The Gordon Co.; and Critical Gem Identification Skills, with GIA’s Cathryn Ramirez.