Need a P&C Carrier That Will Insure Gems

[TristanTLC]

I have a special case that needs to be placed. I have a gentleman who has an Emerald stored in the Sarasota Vault, FL that is worth about 320M. He has applied for a loan against the Emerald and one of the conditions is that the Emerald must be insured by a reputable company. It's already been appraised and we have the SKR, I just need a company that will insure the gem. I've already Called Lloyds, and they have are working a few bids for me. Any other suggestions?

 

[DurAmerica]

I think you should try Chubb.

www.duramerica.com

 

[djs]

Was this not insured previously? Pretty big $$$$ amount to leave exposed.

I'm sure this will be a difficult placement, but then, you already know that!!!!

Dan

 

[TristanTLC]

It is currently covered under the warehouse's blanket policy with a special rider for the increased value. The lender wants it to have it's own stand alone policy. Lloyd's has given me a quote - it is even more steep than I first imagined. I guess I should have expected it to be outrageously expensive.

 

[briko3]

You have to think...that's a lot of risk for a company. A lot of fraud is possible in a situation like that.

 

[saieddie]

You should call Ocean Insurance. Ask for Danny.

 

[Agent_007]

TristanTLC,

I am an agent in Florida....Check your PM

 

[drcoastline]

There are multiple markets in Lloyd's all with many different premiums. Try a different syndicate premiums will be all over the place.

 

[TristanTLC]

Thank you for the information, this policy has already been issued.