Marsh has appointed Jonathan Ballard as the jewelers’ block specialist in the London office of its Specie Practice, which delivers insurance services and advice concerning the insurance of valuable property such as diamonds, precious metals, art and cash.
He will be responsible for generating new business opportunities for Marsh in the jewelers’ block market worldwide.
Ballard, who joins Marsh from SBJ Global Risks where he was a Divisional Director, specializes in designing insurance programs and delivering risk management advice to wholesale and retail diamond dealers. He has seven years’ experience in placing jewelers’ block business in the Lloyd’s and the international insurance market.
Philip Turner, Specie Practice Leader at Marsh, noted: “In times of recession, theft in the diamond and jewelry sector tends to increase. For example, organized criminals will try to capitalize on the darker side of human nature by exploiting employees with financial worries.”
He added that Ballard’s “experience in this very niche and challenging area of business will be a great asset to our clients seeking advice on the appropriate insurance protection they should have in place, as well as risk avoidance measures they should be taking to minimize their losses.”