Theft Claims on Rise

Time for a Mid-Term Check-In

As trusted advisors in Jeweler's Block Insurance, it’s crucial that we help our clients not only secure the best coverage but also prevent potential losses. Mid-policy reviews are a great opportunity to ensure everything is on track and offer added value to your clients.

Here are a few key security tips you can remind your jewellery store clients of during your next check-in:

• Regular Security Audits: Encourage your clients to review their security systems regularly. Alarms, surveillance cameras, and safes should be inspected to ensure they are up-to-date and functioning properly. A comprehensive audit can highlight vulnerabilities before they turn into risks.
• Staff Training: A well-trained staff is the first line of defense. Remind clients that their employees should be educated on loss prevention, handling high-value items, and responding to security threats. Ongoing training ensures everyone stays vigilant.
• Inventory Management: Accurate record-keeping is essential for loss prevention and smoother claims processing. Recommend that your clients conduct frequent inventory checks and use technology to monitor stock, especially during busy seasons.
• Reinforce Physical Barriers: Simple upgrades, like reinforced display cases or window bars, can make a significant difference in preventing theft. Remind clients that investing in sturdy, tamper-resistant hardware adds an extra layer of protection.
• Stay Current with Coverage: Jewellery stores often acquire new stock, relocate, or make upgrades that affect their insurance needs. A mid-term review allows you to reassess their current coverage to ensure it reflects their current business operations. This is also a great time to suggest additional coverage.
• Crisis Management Planning: It’s not just about preventing theft but also having a plan for when incidents occur. Discuss the importance of having a crisis management plan in place, including employee safety protocols and communication strategies in the event of a loss.

Take Action Today!

As a broker, now is the perfect time to reach out to your jewellery store clients and schedule a mid-term policy review. Help them ensure they have the right coverage and that their security measures are up to date.

Contact our Jewelery Store Insurance team at info@JeweleryStoreInsurance.ca to assist with policy reviews, updates, and any additional coverage your clients may need.

LET’S WORK TOGETHER TO SAFEGUARD THEIR BUSINESS

AND PREVENT LOSSES BEFORE THEY HAPPEN.