Twenty-five leading Lloyd's of London and European jewelry insurance underwriters received a presentation of the International Gem Tower by a senior team from Extell Development Company. The presentation was hosted by the Fine Arts, Jewelry and Specie (FAJS) team of Willis London. It addressed the underwriters to learn how the 34-story trade center will be an opportunity for them to offer clients preferred insurance rates that reflect the highly advanced security planned for the building.

The underwriters participated in a Q&A session on key issues and obtained valuable feedback on important features including vault security and building access. The Willis FAJS team, together with Extell, will continue to foster a dialogue to maintain a free flow of ideas on security best practices and any new advances being introduced.

Raizy Haas, Senior Vice President at Extell explained "Our goal is to secure preferred insurance rates for companies who purchase units in the International Gem Tower and, in our view, an open dialogue with the insurance industry about our security infrastructure and program is the best way to confirm that the International Gem Tower will be the premier diamond building in the US in terms of location and security."

"It is very unusual for such an open dialogue to happen between developers and insurers before a building is complete - and for insurers to have input on vital issues such as security can only help the success of the project," noted Laurence Molloy, deputy managing director of Willis FAJS. "We welcome Extell's open approach to the development process and are confident that there will be tangible benefits for insurers and future tower unit owners.