Chola gives Gem & Jewellery trade risk cover

Cholamandalam MS General Insurance (Chola MS), a joint venture between the Murugappa Group and Japan-based Mitsui Sumitomo, launched Jeweller�s Block, a comprehensive insurance package for the gem and jewellery industry. The policy promises insures gems and jewellery from the time it lands in India until it is exported.Jeweller�s Block provides all risk cover for diamond dealers and jewellery manufacturers, which includes transactions in diamonds, precious stones, jewellery and bullion.

The scheme provides cover for insured gems and jewellery when they are on show in domestic and international exhibitions.The package also offers coverage for boiling and casting operations outside of business hours, in contrast to the current industry practice. Other options include terrorism cover and the choice of voluntary deductible for premium savings.

�With comprehensive protection covering loss to stock - both in premises and domestic transit - infidelity of employees and asset protection to ensure business continuity, Jeweller�s Block will ensure peace of mind to gems and jewellery traders,� said Arun Agarwal, managing director of Chola MS.