New Products

20/05/2010   Processing Risk Insurance for Diamonds

Certain Underwriters at Lloyds have developed a new insurance contract to insure potential losses when processing diamonds. This is aimed at diamond cutters and polishers.

Insurance can be purchased up to 80% of the agreed value, subject to prior examination of the diamond. Premium costs will vary, however the commencing rate would be 0.75% of the value. Therefore to insure a diamond value £50,000 against loss during processing would cost approximately £400.

For further details contact Jocelyn Warren at GJIS Limited.