JAA launches new consumer jewellery insurance product

Press release

The Jewellers Association of Australia (JAA) is excited to announce the launch of a new consumer jewellery insurance product – JewelCover.
“For too long our members have expressed their frustrations in dealing with domestic insurers who redirect their customers to the insurer’s preferred jeweller at the expense of the customer’s family jeweller.

As a board, we have carefully looked at how to address this issue for the past two years. It is with the addition of new board members who possess both the skillset and experience in dealing with such projects, that we were able to bring this project to fruition.”
Solely directed at the consumer, JewelCover can be referred by JAA members at the point-of-sale. It will also be available direct through the JewelCover website. The JAA reviewed multiple submissions before selecting an insurance provider to put together this new offer. To ensure the best outcome for the Association and its members, it was critical to select a provider with an extremely strong track record in claims management, with years of experience in jewellery insurance and that had the resources to effectively service the portfolio. With this in mind, the JAA selected JewelCover to refer customers of JAA members to. The policy is underwritten by one of the leading domestic insurers of fine art and jewellery in the world – Chubb Insurance Australia Limited.

JewelCover will be working closely with the JAA board to ensure its members’ interests are always protected.

JewelCover allows JAA members to refer their customers to obtain worldwide protection against loss, theft or damage. Most importantly, the customer will always be sent back to the original jeweller or have the ability to choose the jeweller to replace or repair their jewellery in the event of a claim. The policy will be an agreed value policy, meaning that the sum insured is the sum that will be paid out in the case of a total loss, with absolutely no demands for discounts.

“Our goal is to put back the millions of dollars of claims that are currently paid to a handful of jewellers (and in many cases cash settled), back into the tills of our members.”

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