The first step in this case was to obtain a copy of the original laboratory diamond grading report and carefully compare it to the provided estimate. The contents claims expert on the job had previously worked for a very high end jeweler, specializing in grading yellow diamonds specifically. Consequently, he was able to provide a technical edge and determined that the insured's original stone was of poor quality for reasons the jeweler had overlooked.

Click on “Next” at the bottom right to find out what happened.

The expert determined that the ring could be replaced for $111,000 based on similar stones available in the market at that time, but the jeweler did not agree. As luck would have it, this was around the time of the largest jewelry show in the world, which takes place annually in Las Vegas, Nevada.

The End Result

The contents specialist went to the show and priced yellow diamonds. It was then decided that based on these new stones in the market, the ring could be replaced for $107,000. The jeweler was not happy with this lower estimate. However, he eventually conceded at the urging of the insured and revised his $145,000 estimate to $107,000.

A fair and accurate settlement for this case was reached due to the diligence and persistence of the contents claims specialist and claims adjuster. Without domain expertise in fine jewelry and the drive to go the extra mile to find like, kind and quality replacement stones, this case may not have worked out as smoothly for the insured or the insurance carrier.