Misc Claims > Jewellers Insurance Policy

This police had been specially devised for diamontaires, i.e. those establishment dealing solely in diamonds, jewelers either for retail or whole sale marketing. The policy cover

• Loss due to fire, explosion, lightning, burglary, house breaking theft, hold up, robbery, riot, stikess and malicious damage and terrorism in the premises.
• Stocks in the custody of Insured or his authorized employee or brokers, agents, cutters and goldsmiths.
• All risk cover whilst such property is in transit by Regd. Post , Air freight and through angadia.

Case Study-I

on 27.01.09, the insured’s employee opened the show room at around 9.30am to 9.35am in presence of two front security guards and 12 house keeping staffs. Everything was as usual and at around 10.15am, the staff stared coming and between 10.25 to 10.30am, the staff bus came with around 10-12 persons of PC Jewellers. They opened the strong room around 10.35am and brought out the stocks on the counter for display. The same was more or less displayed on the counters respectively, then suddenly at around 10.52 to 10.55am, one person in Police Uniform has brought one thief like person with handcuffs inside. Three more persons accompanied them. The security guard tried to stop them. On his intervention and asking about the matter, the person in Police dress informed that this culprit has sold some gold to one Geeta Madam in the showroom and the Police want to get it identified. In between, the other two accompanied persons suddenly put pistol on Security guards head and brought them inside and then all five pull out their revolvers and also the employees on gun point. The unknown culprits had taken Diamonds jewellery as well as gold jewellery from various counters and in the meantime one of the employee on the hooter/Alram and on hearing the alarm, the culprits fled with the stolen jeweller and diamonds worth crores of rupees. The entire incident was completely recorded in the CCTV Camera at various locations in the showroom. The Police took the CCTV coverage CD and which helped to arrest the culprits and recovery of stolen jewellery from them.

Case Study-II

The insured is one of a famous wholesale jeweler in Delhi and having various branches at UP like Lucknow, Banaras etc. Their main manufacturing factory is located at Delhi. As per the normal practice, as per the requirement, the branch offices were purchasing the pure gold and sent it to Head Office (Delhi) for manufacturing the ornaments.

Their Lucknow Branch purchased around 8.0Kg pure gold and sent the same to Delhi for manufacturing ornaments. After manufacturing the ornament, they transfer the same to their Lucknow account through stock transfer challan and the same was sent to Luckow through their two employees, one armed security guard in a rented car. Started from Delhi in the morning and went to Meerut and met various customers and done some sale there. Since they were late at Meerut, the further transportation from Meerut to Lucknow was not safe at night, they returned back to their Delhi Office. During the transit, at around 7.30pm, when they reached near Moradnagar, one car over take their car and forced them to stop the car. Four armed culprits stepped down from the car and attacked the employees and driver of the insured and looted the remaining jewellery around 5.0 Kg kept with them.

Finally the FIR was registered and the some culprits were arrested and recovered around 2.0 Kg of jewelery and two main culprits were still absconding with the remaining stolen jewellery.