Marsh urges jewellers to update risk management
Broker warns that high-profile losses in the sector could impact renewals
Marsh is urging jewellers to work with their brokers to review risk management and security practices ahead of the 2010 insurance renewal season or risk facing sizeable increases in premiums.
Marsh's advice has followed a spate of well-documented losses in the diamond and jewellery market this year, ranging from ‘stone-switching' and fraudulent valuations to high-value robberies.
In addition, the market has also experienced a downturn in the wholesale value of certain classes of diamonds and
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