Jewelers Mutual Insurance has issued an advisory to jewelers on three insurance issues related to the Sept. 11 terrorist attacks.
First, because of possible delay of mail service, Jewelers Mutual has extended its due dates for receiving payments by 14 days. The extension period is good until the end of September, says Ron Harder, JMI president. Policy effective dates and termination dates, however, will remain as they appear on the renewal notice.
Second, due to uncertainties with security, the insurance company recommends that businesses postpone shipping valuable items until the end of September. If a shipment must be sent, it encourages businesses to use the United States Postal Service’s Express Mail or Registered Mail. Other services like Fed-Ex or UPS can be considered when they are in full service with security in place.
Third, concerning airline travel, Jewelers Mutual’s commercial policies for businesses (like all jeweler’s block policies) do not cover jewelry lines checked as baggage. That exclusion hasn’t been waived. The risk of loss is too great, says the company. If any airlines a jeweler uses do restrict carry-on luggage, “the insured must consider alternatives such as shipping the line via armored courier or driving to the destination,” says the JMI report.
For more information go to the JMI website at (www.jewelersmutual.com).
Harder also urges jewelers to be even more security conscious in their business for the foreseeable future. “With law enforcement’s attention now being directed away from normal things, there is an opportunity for more crime,” he said. “So, there is a need to be vigilant and cognizant of what is happening in your store.”
Jewelers Mutual’s staff is also doing what they can to assist the victims of the Sept. 11 tragedy. In the day immediately following it, the JMI staff raised $2,200, which the company matched, and which was sent to the Red Cross and the United Way’s Sept. 11 Fund.
“The recent terrorist attacks have affected each of us personally, as well as professionally,” says a statement on JMI’s web site. “We join Americans across the country in offering our thoughts and prayers for those who lost family and friends, for those working in the rescue efforts, and for the businesses impacted by this disaster.”