Marsh to Work with Diamond Broker

Marsh UK announced that it has arranged to work with world-wide diamond trade insurance broker Driesassur NV, as part of its Specie Practice, “which delivers insurance services and advice concerning valuable property, precious metals and stones in transit or at rest.

“Marsh will provide specialist risk solutions to Driesassur’s diamond industry clients, as well as access to insurance cover for stock on their premises and in transit world-wide by personnel conveyance, armoured car or by plane. Marsh will also provide a claims negotiation resource.”

Philip Turner, Managing Director of Marsh’s Specie Practice, commented: “Clients are demanding ever-broader and more sophisticated coverage, as well as specialist risk advisory services, which are integral to Marsh’s offering in this sector. Marsh’s services encompass the full spectrum of risk for the world-wide diamond trade, from mining for precious stones in volatile geographies through to high-end retailing, where often gems worth hundreds of millions of dollars have to be insured for display at trade shows and exhibitions.

Driesassur’s Chief Executive Alain Spruyt noted that the “insurance industry has changed considerably in recent times and the role of the London broker is no longer just to ‘place the file’.” He indicated his firm was looking for expertise and an “incisive understanding of the risk and insurance issues that concern our clients the most,” which he said Marsh could provide.

Source: Marsh UK – www.mmc.com